Saturday, November 14, 2020

Joe Biden's Coming Attack on Corporate America

The New York Times reports:

The transition teams that Mr. Biden selected to review finance-related agencies are filled with proponents of stronger regulation, jarring industry groups that are suddenly fearful the moderate Democrat is preparing for an unexpected onslaught of corporate oversight. The burst of anxiety reflects the uncertainty surrounding Mr. Biden’s approach and worries of a sharp reversal from President Trump’s steady rollback of regulations across the federal government.

Among those selected for the financial regulatory transition teams are Gary Gensler, who led the Commodity Futures Trading Commission during the Obama administration. He pushed through dozens of tough rules in the wake of the 2010 Dodd Frank law, including some that the Trump administration has watered down.

Also on the teams are Leandra English, a former deputy director of the Consumer Financial Protection Bureau, and Dennis Kelleher, a co-founder of Better Markets, a prominent financial reform advocacy group. Ms. English tried, unsuccessfully, to prevent Mr. Trump from installing a critic of her bureau, Mick Mulvaney, as its acting director three years ago...

“It will be a significant change in the orientation of financial regulation if these people are going to be the ones writing the policies,” said Christopher E. Campbell, assistant secretary of the Treasury for financial institutions from 2017-18. “From my perspective, the landing teams were folks that appeared to be more activist than centrist.” 

-RW

2 comments:

  1. Is anyone surprised by any of this? Anyone?

    Socialists gotta Sosh.
    Communists gotta Komm.

    The Goal was always and everywhere: Get Trump. That's all. That's it.

    Just please don't LIE and act surprised. Socialism with American Characteristics will kill and destroy just as effectively as Communism with Chinese Characteristics.

    My own view is that it will come down to 4 - 4 in the Supreme Court with Chief Justice Roberts deciding the future of the United States.

    One man, one vote, one time.

    It appears that Roberts, however has already been turned. So: You got Trump. Congratulations. Now we will all Reap the Whirlwind.

    This was all too easy.

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  2. Didn't Wall Street give 80% of their donations to Biden? Were they completely blindsided? Or did they know something that led them to think these people won't have real power?

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