Doing away with the odious Dodd-Frank law

NY Times:

Bill to Erase Some Dodd-Frank Banking Rules Passes in House


Republicans have vowed to dismantle legislation enacted in the wake of the financial crisis, but their Choice Act faces a tougher fight in the Senate.
Hillary Clinton described Dodd-Frank to the bankers paying her handsomely for a few minute speeches as mainly politics.  It was one of her more honest statements in a career of saying things that were not so.

What the Democrats were trying to do was shift blame for the financial crisis from their own bad policies which caused the housing debacle to the banks who they forced to make bad loans to people who would not have been qualified for the loans under normal circumstances.  When those loans eventually turned bad they had a cascading effect on the housing market making many good loans bad as the housing prices went into a death spiral in several communities.

Dodd-Frank was one of the biggest cover-ups in history.  It wound up helping the too big to fail banks at the expense of the smaller ones.  It was an attempt to hide the dishonesty at the heart of the Democrat party.  They followed us this scam by blaming not only the banks they had coerced into making bad loans but also falsely accused the Bush tax cuts as causing the mess they had made on their own.

Comments

Popular posts from this blog

Another one of those Trump stories Ted Cruz warned about

Iraq says civilian casualties in Mosul caused by ISIS booby trap, not US air strike