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

[mitty14u2]

JUAN GONZÁLEZ: 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 nearly 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 foreign governments. He has also vowed to chip away at other parts of the legislation. Earlier in the month, Trump said JPMorgan CEO Jamie Dimon was giving him advice on what to do with Dodd-Frank.

PRESIDENT DONALD TRUMP: We have some of the bankers here. There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it. But we expect to be cutting a lot out of Dodd-Frank, because, frankly, I have so many people, friends of mine, that had nice businesses. They can’t borrow money. They just can’t get any money because the banks just won’t let them borrow, because of the rules and regulations in Dodd-Frank.
AMY GOODMAN: One of President Trump’s fiercest critics has been Massachusetts Senator Elizabeth Warren, who’s spoken out against Trump’s efforts to dismantle Dodd-Frank.

SEN. ELIZABETH WARREN: The 2008 financial crisis cost millions of people their jobs, their homes and their savings. And in response, Congress passed the bipartisan Dodd-Frank Act, which aimed to prevent big banks from blowing up the economy again. Now, President Trump has called Dodd-Frank a, quote, "disaster," and he has vowed to, quote, "dismantle" it. He started down that road two weeks ago when he issued an executive order on financial regulation. And he’s put two men—Steve Mnuchin and Gary Cohn—who have spent a combined—combined 42 years at Goldman Sachs, in charge of rewriting the rules to help big banks, like Goldman.

FEBRUARY 21, 2017 Democracy Now WATCH FULL SHOW from link

https://www.democracynow.org/2017/2/21/a_champion_of_the_people_or