In Latest Populist Betrayal, Trump Executive Order Unchains Wall Street Greed

Orders signed Friday are 'nothing more than special favors for the same Wall Street banks that crashed our economy in 2008 and put millions of Americans out of work.'
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    In yet another Wall Street giveaway, President Donald Trump on Friday afternoon took executive action to chip away at Dodd-Frank financial regulations and roll back rules aimed at reducing corporate tax avoidance.

    Lisa Gilbert, vice president of legislative affairs for watchdog group Public Citizen, described the orders signed Friday at the Treasury Department as “nothing more than special favors for the same Wall Street banks that crashed our economy in 2008 and put millions of Americans out of work.”

    According to ABC News, Trump signed “two presidential memoranda on the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010, which former President [Barack] Obama signed in response to the 2007-2008 financial crisis.” They order two six-month reviews of what the Los Angeles Timescalled “pillars” of Dodd-Frank: the Orderly Liquidation Authority and the Financial Stability Oversight Council.



    The first was established “to create a process for winding down a large, failing financial company in a way that protects taxpayers from large bailouts such as the ones paid out in the aftermath of the 2008 financial crisis,” as the Washington Post explains. The second “called on federal regulators to identify which financial institutions were large enough to merit enhanced regulation, as their collapse could destabilize the economy as a whole,” according to the Post.

    “Republican Treasury Secretary Hank Paulson conceived the Financial Stability Oversight Council as a forum for catching financial risks that fall through the cracks between the various regulatory agencies,” said Public Citizen financial policy advocate Bartlett Naylor on Friday. “The biggest bailout in the financial crash went to insurance firm AIG, which fell through one such crack. An executive order that questions this oversight can signal to firms intent on high-risk financial ventures that playtime is back.”

    Trump previously signed an order directing a roll-back of Dodd-Frank overall.

    Trump also signed an executive order directing Treasury Secretary Steven Mnuchin to review “all significant 2016 tax regulations to determine if they impose an undue financial burden on taxpayers, are needlessly complex, create unnecessary requirements, or exceed what’s allowed under law.”

    Mnuchin told journalists on Friday that rules enacted by Obama’s Treasury Department, meant to reduce corporate tax avoidance specifically through the process of tax inversions, would be among those targeted under Trump’s order.

    Trump decried such tactics on the 2016 campaign trail, saying companies that employed inversions “have no loyalty to this country.”

    “That’s why it’s so shocking to see him order this review, which could lead to a rollback of rules that would have sharply decreased incentives—and limited the ability of companies—to game the system by using inversions to permanently avoid a U.S. tax bill,” said Susan Harley, deputy director of Public Citizen’s Congress Watch division.

    Chye-Ching Huang of the Center on Budget and Policy Priorities added: “During his campaign, President Trump…said that inverting companies ‘have no loyalty to this country…And we have to do something.’ If the new executive order ultimately leads to rolling back the Obama administration’s anti-inversion regulations, President Trump will effectively be cutting taxes for profitable multinational tax avoiders and also creating a bigger incentive and opportunity for the inversions that he has so strongly criticized.”

    In its report on Friday’s signings, Vox said the set of actions was “a clear flashing light that the notion of a Trump-era GOP as an economically populist ‘workers’ party’ is dead, and business interests rule the roost.”

    And a dangerous one, at that. Lisa Donner, executive director of Americans for Financial Reform, told the New York Times: “From our perspective, it is a direction that is dramatically backwards on financial stability.”

    Following the ceremony, Trump announced there would be a “big announcement” on tax reform coming next week. He told the Associated Press he’d be unveiling a tax plan with a “massive” tax cut—”bigger I believe than any tax cut ever”—for businesses and individuals alike.


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    • Steve Stojanovich

      America is slowly committing suicide.

    • TecumsehUnfaced

      The orange demented thug is trying to make a play for dignity and comes off looking like an orangutan.

    • GALT

      Nature does not require you to have a “permission slip” to survive and it
      has programmed you to meet these requirements by whatever methods
      and means are at your disposal……and if you succeed, you get to do
      it all over again.

      You share this reality with every other living thing and depending on the
      their position on the evolutionary food chain, they will either be a resource
      or a potential co-operator or competitor…..while nature itself, may provide
      both challenges to be overcome or enhancements to be used, in completing
      the task before you.

      To claim to be intelligent is to recognise this reality and to use it to improve
      one’s probability to “continue to attempt to survive”…..which is the only
      RIGHT you have or will ever have, as you go about the “business” of living.

      Only humans have demonstrated the stupidity that seeks to deny that this reality
      is a UNIVERSAL constant, and can not be altered no matter what form the
      attempts to deny it have taken. To view these INVENTIONS one must truly marvel
      at the ultimate irony that what exists corresponds directly with each aspect of
      our biological imperatives….their replacement with various MEMES of denial,
      and the constant EXPLOITATION of those self same IMPERATIVES, to secure
      an advantage, in achieving them, for oneself…while actively seeking to deny them
      to others and disclaiming them…producing the ULTIMATE hypocrisy.

      Enter the great orange talking monkey, who is so stupid that in one election he has
      laid all this out for all to see, and exposed all the rest of his fellow talking monkeys
      in the process…those that can’t name the corrupted, those with public and private
      positions, those who speak from pulpits, those saving “democracy” and all the
      other confidence games that seek to maintain the misdirection from the FACT
      that “you have the RIGHT to continue to ATTEMPT to survive”…by whatever
      means necessary…and the only reason this idiocy continues, is that those who
      are the victims, are so easily aimed at other “victims”…..who are not now, nor
      have ever been…..the threat to their survival.

      “Do not ask for whom the bell tolls……”

      • tapatio

        Excellent comment.

        • GALT

          It seems to me that the “obvious” has been lost which
          requires a restatement of the obvious….since we have expended
          a great deal of effort to deny what every other living thing has
          never had the luxury of denying and which we too are fast approaching
          a time when, it will no longer be possible to deny what is and should
          always have been OBVIOUS. ( had we kept this in sight, we might
          have managed a better outcome than the one we are facing )

          • tapatio

            What you stated is quite obvious and something that all of us forget occasionally and most never seriously consider. It needs frequent repetition.

      • dale ruff

        Principles of Propaganda/George Goebbels:
        Principle 18: Displace anger on targets of hatred.

        Jews, Mexicans, liberals, immigrants, etc.

        The best targets for displaced anger are the least protected populations, Jews in Germany, undocumented immigrants (denied legal rights) and refugees in the US. Hitler attacked liberals (ie the left) not because they were unprotected but because they were the rivals to his power. Attack your rivals as traitors and then redirect anger at the most vulnerable populations. How did that turn out?

        • Mariajhall

          Managing director of Google!, is explaining to users to start off “Work at home” method, that People have been doing for about one year now. These days alone, I generated close to $36,000 until now with no more than my home computer as well as some spare time, despite that i have a fulltime 9 to 5 job. Even everyone not used to this, can make $89/per h easily and the earnings can go even higher over time… This is how i started
          !wr359c:
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          • allan Massey

            scam

        • GALT

          I am not certain what the purpose or intent of your citation is? Are
          you confirming the stated conclusion? Is your question rhetorical?

          The answer to it, is that it works just fine and continues to work, as
          history demonstrates…..and it is now present in every nation and will
          continue to evolve as the “great contraction” continues to unfold, as
          the infinite growth aspect of non empirical economic theory proceeds
          to its inevitable failure. ( even in nations where some progress has
          been made in the recognition that access to basic necessities is the
          primary function of government and in failing THAT it has no legitimate
          function at all. )

          Your example is one which illustrates an evolution which demonstrates
          an extreme result, but one that is available in many histories, including
          the United States which exterminated it’s indigenous population, and
          marginalized it’s minorities, each in turn, as they arrived and sought
          the “promise” of assimilation. ( many have yet to achieve it and given
          the present reality, many never will. )

          For those enthralled by the deception of language, the power of words
          is sufficient to blind them to the REALITY of that which drives us…in
          spite of all the evidence to the contrary…and yet the TRUTH lurks just
          a few more words away.

          “It takes a Tribe”……to be a Tribe.

          “It takes a village”……to be a village.

          What does it take to be “civilized”? Now that is still a question and will
          require some sort of rudimentary “intelligence” to evolve, but unfortunately
          that result is not one which biological evolution can remedy, since it is not
          an inheritable trait that can be chosen by natural selection.

      • Mij Swerdna

        Excellent take on this. The great orange talking monkey is in the house! I have to confine my exposure to this primate to the written word because everytime I hear that snooty, hyperbolic voice I cringe!

    • tapatio

      WHEN DO AMERICANS DECIDE TO STOP BEING RAPED AND HAVING OUR WORLD RAPED BY THESE SOCIOPATHIC PREDATORY CAPITALISTS???

      Below is the Rothschild-Bilderberg Predatory Capitalist Cartel – at the root of the corruption that has taken control of our country, its government, media and commerce. Until that corruption is rooted out and eradicated, America will continue to sicken and, eventually, die.
      These same Rothschilds, that hold controlling interest in the Federal Reserve today, also were patrons of Karl Marx and directed-financed the Bolshevik-Communist “revolution”. That one family name has been connected to more death and horror, over the last 300 years, than ALL other causes combined. The Rothschilds are, of course, Jewish.

      Rothschild Bank
      New Court
      St Swithin’s Lane
      London EC4N 8AL
      United Kingdom

      http://humansarefree.com/2013/11/complete-list-of-banks-ownedcontrolled.html

      (note: The list linked above includes only Central Banks in which the Rothschild/Bilderberg Cartel holds controlling interest. They also hold controlling interest in virtually every major
      commercial and investment bank on Earth)

      Rothschild History
      https://www.youtube.com/watch?v=rtiOEpOnqtI

      JFK and the Federal Reserve
      https://www.youtube.com/watch?v=_sJzPDOUvZE

      https://ia800308.us.archive.org/30/items/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin.pdf

      http://www.globalresearch.ca/the-federal-reserve-cartel-the-eight-families/25080

      https://socioecohistory.files.wordpress.com/2013/07/james_madison-moneychangers_banksters_control_of_government_by_controlling_money.jpg

      http://www.thetruthseeker.co.uk/wordpress/wp-content/uploads/2013/05/Nathan-Rothschild-and-famed-quote.jpg

      https://firstlightforum.files.wordpress.com/2013/04/why-the-jews-killed-jesus-jesus-jews-lulz-religion-1344086402.jpg?w=590

      http://shakeandwakeradio.com/1963-JFK.jpg

      https://rehmat1.files.wordpress.com/2015/11/rothschildpig1.jpg

      http://i0.kym-cdn.com/photos/images/original/000/956/598/d36.jpg

      The cartoons in this post are not “racist” because they are accurate caricatures of Jacob Rothschild and the star of david is the icon of Zionism – a political movement. It is also a reality that the vast majority of the leaders of this predatory cartel are from that ONE cult that comprises only 2/10ths of one percent of the world’s population, but provides a large double-digit percentage of the world’s criminals and two-legged predators.

      • Expanding_Brain

        I am Jewish and I agree with what you’re saying. When you make it a point to attack them as Jews, then your message is diluted and less effective. You’re the same as people who refer to Muslims as terrorists. Calling them Zionist is much more accurate and will allow your message to be heard by a larger audience. Good day

        • tapatio

          When, according to the NYT, Jerusalem Post, Haaretz, Pew and Gallup and the majority of Jewish anti-Zionist pundits, between 65 and 85% of all Jews are active Zionist supporters – from the Jew who attends an active Zionist synagogue and hasbara troll to Rothschild and Netanyahu’s level, that makes Zionism a DISEASE that is pandemic among Jews.

          Given the fact that the Rothschilds have used Bolshevism and Zionism and the American government as their puppets and have murdered many tens of millions with those weapons, the lives of a few million POSSIBLY innocent members of your cult are pretty irrelevant. Judaism has been a plague on humanity AT LEAST since the Canaanite Genocide. I don’t see Judaism changing much or the Talmud vanishing soon. That Satanic book is INCREASING in popularity among you.

          Let’s see…………thanks to Jewish greed and lust for power, something on the order of TWO HUNDRED MILLION HUMANS have perished in the last `100 years. There are 15 million Jews on Earth, at least 2/3 of whom are guilty of perpetrating or supporting violent crimes against humanity.

          THE MATH SEEMS TO WORK PRETTY WELL.

          Eventually, your Zionist cousins are going to do something that will arouse the majority of humanity, which already somewhat despises Judaism for its long history of crimes and hates Zionism for its current crimes, including the corruption of the US. It just might behoove your cult to take drastic steps to deal with the vipers among you. There’s no place left for you to run – CURE YOUR OWN CULTURE’S DISEASE OR YOU WILL ALMOST CERTAINLY DIE WITH IT.

          Zionism’s criminal behaviors ARE NOT A GENTILE RESPONSIBILITY – THEY’RE JUDAISM’S..

          • dale ruff

            You are blinded by your anti-semitism (opposing the right wing Israeli regime is not anti-semitic but continually blaming the Jews is. Like Hitler, you attack capitalism, then equate it with our real object of misdirected hatred, the Jews of the world.

            Oct/2013: ” When asked whether caring about Israel is essential, important but not essential, or not an important part of what being Jewish means to them, 43% of American Jews say it is essential, 44% say it is important but not essential, and 12% say it is not important. About half of Jews by religion (49%) say caring about Israel is an essential part of what being Jewish means to them, compared with 23% of Jews of no religion….
            Four-in-ten American Jews (40%) believe the land that is now Israel was given to the Jewish people by God, while more than half do not believe this is literally true
            About four-in-ten American Jews (38%) think the current Israeli government is making a sincere effort to bring about a peace settlement with the Palestinians, while 48% say this is not the case..

            Dec 2016 “Nearly half of US Jews favor sanctions on Israel.”

            There are more Jews in the US than Israel, and the majority are not Zionists.
            mondoweiss. net writes “here can be little doubt that the philosophy of Zionism—-Jewish nationalism—-is in retreat among American Jews. Zionism holds that Judaism is not a religion of universal values, but an ethnicity. It believes that Israel is the “homeland” of all Jews and that those living outside of Israel are in “exile.”. Zionists urge emigration to Israel, “aliyah,” as the highest Jewish value.

            Most American Jews, quite to the contrary, believe that Judaism is a religion, not a nationality. They believe that they are American by nationality and Jews by religion, just as other Americans are Protestant, Catholic or Muslim. While they wish Israel well, they do not believe that it is their “homeland.”. They believe themselves to be fully at home in America. This is nothing new. As early as 1841, at the dedication ceremony of Temple Beth Elohim in Charleston, South Carolina, Rabbi Gustav Poznanski declared: ”This country is our Palestine, this city our Jerusalem, this house of God our temple.”

            In the years since the end of World War II, in the wake of the Holocaust, many American Jews had a brief flirtation with the Zionist idea. Even the Union for Reform Judaism declared that, somehow, “Israel,” rather than God was “central” to their religion. More recently, however, we see that identification with Israel is declining among American Jews, particularly young people.”

            I have in my long life known many Jews including the late Yiddish scholar, Itche Goldbert.
            Not one has been a Zionist. I have been attacked by Zionist online for my support for the Palestinian cause, but I have never actually met a Zionist…and that is because, in America, they are relatively rare. In Israel, 80% of Jews are Zionists, but that is about 4 million, a quarter of the world’s Jewish population.

            Equating capitalist, Zionists, and Jews was the very equation Hitler used to redirect the anger of the German people away from its leaders (except the Social Democrats who were sent to Dachau to be worked to death) to a very unprotected population of about half a million Jews or .06% of the population.

            I know you can’t help it…you have the brain disease of anti-semitism…..which is a pity since your views of capitalism have merit…until you begin to blame the evils of the world, as Hitler did, on the JEWS AND THEN BEGIN TO SHOUT SINCE YOU THINK NO ONE CAN HEAR YOU IF YOU DON’T….and yet, the truth is, we can’t hear you when you shout. We only see a deranged, intelligent but poisoned mind screaming madly.

            You could a been a contender……

            • tapatio

              Your opinion would tend to be your own problem. I want a threat to MY grandchildren, MY world terminated so that that threat will not emerge again in 200 years. There is valid reason that the Jews have been expelled from more than 100 countries in the last 2000 years. The reason, if you bother with history NOT written by Jews, is that they are toxic.

        • Mij Swerdna

          I agree. This kind of talk puts me off in the same way that bigoted talk about “Russians” (as if 140 million people are untrustworthy barbarians) does. It’s it’s own brand of war propaganda and since WW2 it’s pretty much worn out it’s welcome amongst decent folk. Not crazy about Netanyahu because he’s not taking Israel in the direction I think it ought to go but it would be truly ignorant to hold Jews as a people responsible for his every policy. I certainly don’t appreciate Trump’s version of American “greatness” and would not want to have to account for his bs. You get my point. Add to this that Jews as a people in my experience tend to value diversity of opinion and enjoy debating- this makes it disingenous to paint them with a broad brush.

      • dale ruff

        The Rothchilds did a damn poor job of supporting Marx, who lived and died in poverty and saw his children die in misery. Your anti-semitism, as usual, destroys your insights about the capitalist conspiracy to dominate the world. Pity.