'An Abomination': Powell Cut Mention of Regulatory Failures From Bank Bailout Statement

Warren tweeted Friday that "the Fed chair's outrageous attempt to muzzle the rest of the government about his role in contributing to this current crisis is completely inappropriate—and it won't work."..

https://www.commondreams.org/news/powell-cut-regulatory-failures-mention

There’s a deeper story to Silicon Valley Bank’s failure. What can we learn from it? | Robert Reich | The Guardian

Once banking was deregulated, such a crash was inevitable. In the 1950s and 60s, when banking was boring, the financial sector accounted for just 10 to 15% of US corporate profits. But deregulation made finance exciting and exceedingly profitable. By the mid-1980s, the financial sector claimed 30% of corporate profits, and by 2001 – by which time Wall Street had become a gigantic betting parlor in which the house took a big share of the bets – it claimed a whopping 40%. That was more than four times the profits made in all US manufacturing.

https://www.theguardian.com/commentisfree/2023/mar/13/svb-collapse-2008-financial-crisis

Republicans blame woke instead of deregulation

https://www.youtube.com/watch?v=eqAwwEs6Jq0 

Video of Trump SURFACES Showing his TOTAL CULPABILITY

https://www.youtube.com/watch?v=3d1EYyrBDpw

Signature and Silicon Valley Bank Collapses Followed Softened Regulation - The New York Times

From the moment the law went into effect, the banking industry sought to rescind or at least relax it. Its argument was that onerous regulations constrained the industry's ability to lend money to creditworthy customers.

The argument fell on deaf ears with Mr. Obama in the White House. Mr. Trump was more receptive. Barely a week after taking office, he called Dodd-Frank "a disaster" and told reporters that "we're going to be doing a big number on" the law...

https://www.nytimes.com/2023/03/13/business/signature-silicon-valley-bank-dodd-frank-regulation.html

Trump Regulators Just Rolled Back a Major Obama Era Bank Reform – Mother Jones

On Thursday, five federal regulatory agencies voted to roll back a key financial rule enacted following the 2008 financial crisis. The change will make it easier for banks to invest in venture capital and will tweak some restrictions on bank investing in hedge funds and private equity—all forms of riskier investing that Congress limited after 2010. The revised rule will also shrink the financial cushion that banks are required to keep on hand during certain types of derivatives trading. This particular change could free up an estimated $40 billion of capital for banks to trade with. https://www.motherjones.com/politics/2020/06/trump-regulators-just-rolled-back-a-major-obama-era-bank-reform/

Trump’s plan to slash post-crisis Wall Street rules puts America at risk -- Business Insider

Trump has big plans for Wall Street. But there's one problem: he's letting Wall Street write its own rules....
http://www.businessinsider.com/trumps-plan-to-slash-post-crisis-wall-street-rules-risk-to-america-2017-8

Elizabeth Warren unloads on Trump's pick to lead Fed bank regulation -- Business Insider

Randal Quarles, President Donald Trump's nominee for Federal Reserve Vice Chair of Regulation, a position created after the financial crisis, took a lot of heat from Senator Elizabeth Warren in a hearing Thursday for what she described as "a 30-year career spinning through the revolving door in the private sector." ...
http://www.businessinsider.com/senator-warren-says-trump-fed-nominee-quarles-is-a-revolving-door-bank-lawyer-2017-7

House passes sweeping bill to strip back financial rules

The House of Representatives on Thursday passed sweeping legislation to strip and replace much of the financial regulations passed under President Obama after the 2008 financial crisis. The House passed the Financial CHOICE Act 233-186, along party lines. The bill is not expected to pass the Senate....
http://thehill.com/policy/finance/337004-house-passes-sweeping-bill-to-strip-post-recession-banking-rules

While You Were Paying Attention To Comey, House Republicans Voted For Everything Big Banks Want

 While much of the political world was watching the fallout from former FBI Director James Comey's Senate testimony Thursday, House Republicans were jamming through a bill that would largely gut the financial regulations in Dodd-Frank, the landmark banking legislation passed in 2010 after the worst financial crisis since the Great Depression. ...
http://www.huffingtonpost.com/entry/bank-regulation-choice-act-house-vote_us_5939af49e4b0c5a35c9d91d8?ncid=APPLENEWS00001

Now Republicans want to undo the regulations that helped consumers and stabilized banking -- Vox

As with health care, outreach to Democrats is unlikely.
http://www.vox.com/the-big-idea/2017/4/3/15143230/financial-regulations-dodd-frank-repeal-funding-consumer-protection

A Champion of the People or Wall Street? Trump Pushes to End Dodd-Frank & Consumer Protection Agency

As the Trump administration enters its second month, Republican lawmakers have begun a legislative attack on the Consumer Financial Protection Bureau, which was created in response to the economic crisis a decade ago. The bureau was created under the Dodd-Frank legislation, which is also coming under attack by Republican lawmakers and the White House. Last week, President Donald Trump signed an executive order to repeal a Dodd-Frank anti-corruption measure requiring oil and mining companies to disclose payments to governments. He has also vowed to chip away at other parts of the legislation...
https://www.youtube.com/watch?v=6EfUIcbZ08M&feature=youtu.be
Interview:

President Trump Takes On Dodd-Frank (Tom Ashbrook, On Point)

On the campaign trail, Donald Trump railed against a Wall Street he said was bleeding Americans dry. In the White House, President Trump is now pushing to loosen the reins on American banking. In an executive order signed Friday, he calls for taking apart the Dodd-Frank banking law passed after Wall Street threw the country into the 2008 financial crisis. He says it’s to free up the economy. Critics see a threat to the little guy. This hour in our On Point 100-Day Spotlight, President Trump and Wall Street. — Tom Ashbrook
Interview:
http://www.wbur.org/onpoint/2017/02/07/trump-dodd-frank-wall-street

Elizabeth Warren Slams Trump's Efforts to Dismantle Dodd-Frank—and Debunks His Fantasy Economics

The Massachusetts senator shreds the president's plans to take care of his "friends with nice businesses."...
http://www.alternet.org/economy/elizabeth-warren-slams-trumps-efforts-dismantle-dodd-frank-and-debunks-his-fantasy-economics

Barney Frank: Trump's Plan to Kill Wall Street Reform Act Could 'Crash' the Financial System (FORTUNE)

When President Donald Trump signed an executive order Friday to peel back the 2010 Dodd-Frank Wall Street Reform Act, the big banks rallied. Shares of the seven largest by market capitalization on the S&P 500 shot up by $35.4 billion, Fortune's Lucinda Shen reported.

But now Barney Frank, one of the authors of the act, has said that dismantling its safeguards on banks' abilities to accrue enormous debt and take on risky loans could place the entire financial system at risk, CNN Money reports....
http://fortune.com/2017/02/08/barney-frank-dodd-frank-trump-repeal/

Elizabeth Warren Breaks Down the Biggest Trump Scandal You Haven't Heard About | Alternet

Warren sounds off on the president's plan to gut the Consumer Financial Protection Bureau....
http://www.alternet.org/economy/elizabeth-warren-breaks-down-biggest-trump-scandal-you-havent-heard-about

Trump will allow Wall Street advisers to rip off retirees (ThinkProgress)

Trump also plans to sign an executive order paving the way to dismantle financial regulations. President Trump, flanked by business leaders, as he signed an executive order severely cutting regulations. ...
https://thinkprogress.org/trump-executive-orders-wall-street-bc0d65ccc5f8#.7w01k66vw

Donald Trump Promises To 'Dismantle' Wall Street Reform

In an interview with Reuters published on Wednesday, presumptive Republican presidential candidate Donald Trump said he will release an economic plan in two weeks that will undo nearly all of the financial reforms that went into effect in 2010. “I would say it’ll be close to a dismantling of Dodd-Frank,” he said, naming the financial reform package. “Dodd-Frank is a very negative force, which has developed a very bad name.”...
http://thinkprogress.org/economy/2016/05/18/3779349/trump-dismantle-dodd-frank/