President Trump wants to eviscerate Dodd-Frank banking regulations to permit:

 1. Reducing bank reserves, so that in the event of financial difficulties, the public will likely be asked – again – to fund a bailout.

• 2. Trading in derivatives by banks, using the Federal Deposit Insurance Corp. to cover losses, while also not disclosing these obligations on balance sheets, so neither investors nor regulators reading a bank’s financial statement can be alerted to the risk and vulnerability of these trades. (See public bailout, above.)

 3. Eliminating the requirement that investment advisers act as fiduciaries in order to expand their offerings, presumably freeing these agents to introduce and sell products not in the best interest of their clients.

Is this really how the swamp is drained and America is made great again?

Rod Regier


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