Today I read in the news that Donald Trump wants to dismantle Dodd-Frank. He apparently said it was impossible for bankers to function.
That quote caught my attention immediately. It’s obviously campaign rhetoric, not the actual situation. Frankly the banks seem to functioning just fine. There’s scant threat of a recession. The bank closures we saw after the bubble popped in 2008 have all but abated and jobs have been added every month for years. I guess I’m having trouble seeing what the problem is from my layman’s perspective.
If Trump starts monkeying around with Dodd-Frank, doesn’t that mean he’s playing with the status quo, which in this case seems to be working just fine? What ever happened to the ideology of not fixing something that doesn’t seem to be broken?
And why does Trump suddenly love bankers? I thought he always says that Hillary is in the pocket for Wall Street and that he didn’t need them or their money. Suddenly they are deserving souls in dire need and he’s the knight in shining armor riding in with his executive pen to save the day? None of this passes the smell test, but hey – Trump knows best, at least according to the typical Trump voter. Whatever he says is truth, no matter how ridiculous.
And why do Trump voters support giving the keys to the regulatory kingdom to a guy who has been most able to manipulate his own finances using loopholes and courts and every other tool at his disposal? In other words, Trump is a guy who’s made himself filthy rich whilst running many businesses into the ground. And yet the Trump voter is ready to trust the guy with the economy while he disables the very safeguards that were put in place to stop banks from abusing the system? None of the geniuses who want to vote for this guy are taking him seriously. He’s telling them exactly what he’ll probably do and they’re all fine with it. The very same people who stand to be laid off in a Trump economy are ready to vote for him because he’s going to fix things. Whelp, he’s going to fix things for them alright.
First, he’s going to take away their health care. Then he’s going to allow banks to write shady mortgages that endanger the economy and finally, he’s promises to roll back libel laws so he can more easily sue and intimidate anyone who dares to print criticisms of him or his policies. And STILL, the Trump voter is perfectly okay with all of this.
They want the insane running the asylum. They want the fox guarding the hen house. I’m sure there are more analogies I could remember to quote, but you get the idea. Thinking that Trump is out for the country is a joke at best and self-delusion at worst. He’s out for himself just like he’s always been out for himself. Pure and simple. And he’s not even bothering to hide his intentions. Instead, he’s simply going to smile and tell the typical Trump voter that, hey, it’s really a good idea if we abolish Dodd-Frank, because, you know, he said so. And the Trump voter, well, they’ll love him for it.