[An Nahar] President Donald Trump...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States...
will on Friday move to roll back key reforms enacted in the wake of the 2008 financial crisis, in what the White House sees as an effort to cut damaging red tape.
Officials say Trump will sign two executive actions asking the Treasury and the Labor Department to look into ways of reforming rules that were designed to make markets safer and give consumers more protection.
One order will ask the Treasury Department to identify possible changes to a package of financial reforms -- know as Dodd-Frank -- enacted in 2010 by president Barack Obama
Jedi mind meld...
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Among other things, the legislation created the consumer financial protection bureau and required banks to keep more capital on hand to prevent over-leveraging.
The review will also target the so-called "Volcker Rule," which curbs some speculative investments.
"(We) believe that Dodd-Frank in many respects was a piece of massive government overreach," said a senior administration official, previewing the orders Trump will sign later Friday.
"It imposed hundreds of new regulations on financial institutions, it established an enormous amount of work and effort for financial firms," the official said.
Republicans have made no secret of their dislike for the consumer financial protections bureau, which looks set to be targeted in the review.
Any substantial repeal of Dodd-Frank would require congressional action, but the Trump White House is keen to send a signal that it is ready to slash red tape.