Donald Trump has signed another two executive orders to review and roll back financial industry regulations which were imposed by former President Barack Obama after the financial crisis.
"Today we’re assigning core principles for regulating the United States’ financial system," the President said to reporters, seated at his desk in the Oval Office.
"It doesn’t get much bigger than that, right?"
With one swoop of his pen, Mr Trump ordered a review of a cornerstone of Barack Obama’s legacy, a law that sought to curb Wall Street's loans and risk-taking – activities which arguably led up to and exacerbated the 2008 credit crisis.
The Dodd-Frank Act was signed in 2010 and was seen as a government stamp-down on banks after the administration was forced into a multi-billion dollar bailout to save the economy. Critics accused the former President of not going far enough to punish banks after the global economy tanked, penalising homeowners and causing a great recession. Full story...
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"Today we’re assigning core principles for regulating the United States’ financial system," the President said to reporters, seated at his desk in the Oval Office.
"It doesn’t get much bigger than that, right?"
With one swoop of his pen, Mr Trump ordered a review of a cornerstone of Barack Obama’s legacy, a law that sought to curb Wall Street's loans and risk-taking – activities which arguably led up to and exacerbated the 2008 credit crisis.
The Dodd-Frank Act was signed in 2010 and was seen as a government stamp-down on banks after the administration was forced into a multi-billion dollar bailout to save the economy. Critics accused the former President of not going far enough to punish banks after the global economy tanked, penalising homeowners and causing a great recession. Full story...
Related posts:
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