Why is the financial sector in “shambles” really? Because of Dodd-Frank? I am sure there has been an impact, but shambles sounds like a Foxian style exaggeration.
I don’t watch Fox, so leave out the straw men.
There are several issues with Dodd Frank, the first being that instead of solving “too big to fail”, it guarantees more of it. The largest issue to me is that it increases risk in the financial system by wrecking community banking, leading to the big banks getting even bigger.
And then there’s the “Volker Rule”, which purported to increase transparency in trading, but has led to multiple unintended consequences, none of which are good. So, what you have is a law that was passed to decrease the risk in the financial system, but instead INCREASED the risk in the system, made the system less transparent, more costly (especially to poorer Americans — you may have noted that “good credit scores” are now 740 and above, where they used to be 720 and above — -causing hundreds of thousands with good credit to pay higher interest rates due to Dodd-Frank) and basically not solved a damn thing it was supposed to solve.
But if you can point to the evidence, I will certainly entertain the idea. I don’t know much about Dodd-Frank except that it’s a whistleblower law that incentivized whistleblowers.
I have no idea where you got the idea it was a whistleblower law. It’s not.
If they are being taken to court over these sorts of practices (or even fear this) I imagine it is disturbing the financial sector somewhat, but is the solution just allowing corporations to do as they please? Many believe the regs are in place for a reason. And even with Regs in place the corporations are always getting around them.
Let’s not get into the details of specific regulations, because nobody who is sane is against ALL regulations. The point is that where regulations are concerned, more is not always better. Further, the larger issue is that the government is not able to manage an economy better than supply and demand does, and when they try, history shows depressed results.
And to be fair to Trump, he seems to be mildly concerned about actually helping his base. I just don’t think he has the political skills to pull it off. We shall see.
He may not, but I would be horribly disappointed if the Dems block him on proposals that they themselves made under Obama, particularly in the area of infrastructure. But that appears to be where we are going.