Sunday, February 12, 2017


The new president has banned an entire religion from entering and in some cases, reentering, our country. People who have been properly vetted and is many cases, lived here for years.
His Secretary of Education wants to take public education funds (taxes) and give them to owners of private schools.
His HHS Secretary wants to take health insurance away from 28,000 Americans, and make it impossible for the rest of us to get insurance if we have a preexisting condition, kick us off our parents plan at age 18, not cover preventative care, and re-institute lifetime maximums on coverage.
His Attorney General wants to restrict voting rights.
His EPA Secretary has spent his political career trying to dismantle the very agency he now leads.

Need I go on?

Apparently I must, because now, he wants to roll back Dodd-Frank!

Dodd-Frank is the set of regulations enacted after the financial crisis of 2008.  It was part of the "bail-out" of banks deemed too big to fail.
Banks and financial institutions had made so many risky loans, while maintaining too little reserve, and when the economy started to decline, individuals and companies could not pay back the loans.

We can debate whether the bail-out should have occurred, but the fact is it did, and should too large to fail banks fail again, it would likely be repeated.  
Dodd-Frank better regulates large banks and Wall Street financial companies to decrease the likely-hood of another meltdown.
A total meltdown would have caused a worldwide depression, much worse than the multi-year recession in which many have not fully recovered.

But now our president, who campaigned as a man of the people, who is willing to take away healthcare coverage, public education, freedom of religion, the right to vote, environmental protection and more, is willing to risk another financial meltdown and bailout because:

“We expect to be cutting a lot out of Dodd-Frank, because frankly, I have so many people, friends of mine that had nice businesses, they can’t borrow money,” Mr. Trump said in the State Dining Room during his meeting with business leaders. “They just can’t get any money because the banks just won’t let them borrow it because of the rules and regulations in Dodd-Frank.”

The reason they cannot borrow the money is because those kinds of loans led to the problem last time and frankly, the people the president said he would represent and help, are sick of bailing out the fat cats.

No comments: