The cost of Trump’s bank deregulation could be catastrophic. Unfortunately, the Trump administration is tearing away every layer of protection that was designed for the next economic crash. (MS NOW)
This bit of how the fuck, is brought to the US citizen by the same guy who thought tariffs were like discovering gold mines, only to end up with shit pies. It is also brought to the US citizen by the same guy whose companies have filed for bankruptcy six times, primarily involving his casino and hotel operations. These filings occurred between 1991 and 2014.
Regulators are gutting the capital requirements that are sensitive to the riskiness of banks’ businesses, the ones that are risk-neutral, the ones determined by banks’ performance in annual stress tests, and the ones that require additional protection for the “too big to fail” banks. This wholesale deregulation will allow banks to load up on more debt and have less of their own money available to absorb losses when their investments go south. (MS NOW)
It seems that the big banks, the big corporations, the big billionaires, who bought and paid for Trump’s presidency, are at it again, insisting that any guardrail established to help the average American is one too many guardrails keeping them from making even more enormous and out of proportion profits.
Ah, yeah, the good old days, when the taxpayer had to fund the TOO BIG TO FAIL BANKS. Good times, real good times are coming once again!
