Trump orders review of financial rules to prevent future crises

[OKIsItJustMe]

Source: Reuters

U.S. President Donald Trump ordered the Treasury Department on Friday to examine two powers given to regulators to police large financial companies following the 2008 financial crisis, Treasury Secretary Steven Mnuchin said.

In his first visit to the Treasury building, Trump signed two memos that analysts view as largely affirming existing priorities he has outlined.

One temporarily bars regulators from identifying new non-bank financial institutions as "systemically important financial institutions,” or SIFIs, while also ordering a review of this process, Mnuchin said in a briefing with reporters.

…

The other memo directs regulators to temporarily halt the use of "orderly liquidation authority" to dissolve troubled financial institutions unless the president directs it in an emergency. Trump will order a review of this as well, Mnuchin said.

…

Read more: http://www.reuters.com/article/us-usa-trump-regulation-idUSKBN17N248

[SunSeeker]

1. Seriously? Mnuchin isn't going to prevent anything. He loves him some financial crises. nt

[klook]

2. To GUARANTEE future crises.

Disaster capitalism has a friend in Trump.

[Javaman]

3. the orange menace greases the runners for the express ride down hill. nt

[ananda]

4. Change "prevent" to "cause"

nt

[They_Live]

5. let me guess...

get rid of regulations and oversight?


F***ers.

And hey Mnuchin, I'll be boycotting anything with your name on it from here on out. Accidentally watched a movie ("The Accountant" -with bin AfFFLACKK) that he executive produced the other day, and when I saw his name on the end credits, I threw up a little in my mouth. Yuck.

[TomCADem]

6. Ah, More Pro-Worker Populism From Trump?

I have to say that being pro-worker just does not mean what it use to mean.