Politics
Politics
Out of context: Reply #28922
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Casting Wall Street as Victim, Trump Leads Deregulatory Charge
https://www.nytimes.com/2017/11/…
Most noticeably, there’s been a dramatic change in tone from the White House. This weekend, Mr. Trump wrote in a Twitter post that regulators, in particular the consumer bureau, have left the financial industry “devastated and unable to properly serve the public.”
It was a rare instance of a politician casting Wall Street as a victim — especially since the banking industry is on a roll. Commercial banks last year generated $157 billion in profits, the highest level ever, according to the Federal Deposit Insurance Corp. Banks are making lots of loans. Their stock prices have been marching ever higher.
- It will be interesting to see how many days it takes to go from Wall street is "devastated" to full on crisis.R_Kercz