The Problem With Stereotyping Republicans: Dodd-Frank

[georgephillip]

Is Dodd-Frank Wall Street Reform Legislation a Hoax?

"The problem with stereotyping Republicans is that when they are screaming from the rooftops about a legitimate fraud, Democrats don’t believe them — even when the evidence is overpowering that they are right.

"For years now, Republicans have been screaming that the Dodd-Frank Wall Street Reform and Consumer Protection Act that was signed into law in 2010 by President Obama is a fraud on the public.

"Few have examined Dodd-Frank’s failed promises as carefully as Wall Street On Parade.

"The legislation promised to rein in derivatives – it didn’t. It promised to end the future need for taxpayer bailouts of too-big-to-fail banks. It didn’t. It promised to institute the Volcker Rule to prevent banks from gambling with insured deposits.

"It didn’t.

"It promised to reform the practices of the ratings agencies that played a pivotal role in the 2008 collapse.

"It didn’t."

Wall Street on Parade has consistently supported Bernie against the status quo.

A vote for Trump OR Clinton is a vote for the status quo.

 

[georgephillip]

"Take this morning’s news from Bloomberg News. The so-called Volcker Rule provisions of Dodd-Frank that barred the Wall Street banks holding insured deposits from owning private-equity funds (where they could inflate asset values with little push-back) and hedge funds (where they could dump or hide their own losses) have been repeatedly pushed forward and now are not set to go into effect until July of next year – an outrageous seven years after Dodd-Frank was signed into law.

Is Dodd-Frank Wall Street Reform Legislation a Hoax?

"Wall Street is clearly counting on their heavy funding of Hillary Clinton’s campaign to put a friendly ear in the Oval Office, and at the Fed, Treasury and SEC, so it can individually apply for permanent exceptions to these and various other Dodd-Frank rules."