Removal of Dodd-Frank

evil wasabi

The Jongmaster
20 Year Member
After nearly four hours of debate on Thursday, the House passed the Financial Choice Act, legislation designed to replace the Dodd-Frank Act, derail the Department of Laborç—´ fiduciary rule and gut the Consumer Financial Protection Bureau.

Democrats, who consistently referred to the legislation as the Wrong Choice Act during the heated debate on the House floor, offered no amendments to the bill, which passed by a 233-186 vote.

The designation 努ould introduce a wholly inappropriate and unnecessary regime of bank-type regulations that would increase costs and reduce returns for investors, distort the fund marketplace, and compromise the important role that funds play as a source of financing and capital formation in the economy.

Other provisions ç”°orrect the indiscriminate application of bank-oriented stress-testing requirements to all large ç´♥inancial companies,樗 ICI added. å…¸hese changes would further reduce the risk of applying ill-suited measures to registered funds and fund advisors that would increase costs to fund investors without providing any corresponding benefits.

Something about removing restrictions on brokers having a fiduciary duty to their investors, in particular for retirement accounts - this is exactly why we ended up with Glass Steagle and the SEC.
 

Marek

Banned
Yes but abortions and Hillary's emails

I would happily give up anything to stop the libtard killary klinton and her evil Marxist agenda
 

fake

King of Spammers
15 Year Member
Hey, if the housing market crashes again, maybe I can finally buy a house.
 

neo_mao

Been There., Done That., It Was Shit.,
15 Year Member
It makes total sense guys.

We should also remove a doctors duty to provide ethical care for their patients. Imagine how much we could bring down healthcare costs if we did that!
 

fake

King of Spammers
15 Year Member
Nah, those 28 million don't deserve healthcare. They refuse to pull themselves up by the bootstraps.
 

evil wasabi

The Jongmaster
20 Year Member
https://en.wikipedia.org/wiki/Dodd–Frank_Wall_Street_Reform_and_Consumer_Protection_Act

No idea what's going on here and not going to pretend to even understand. holy shit

Yeah, the Financial "CHOICE" Act allows Trump to fire directors of Fannie Mae, Freddy Mac, and the Consumer Financial Protection Bureau.

Think about that last one. If Investors file a complaint against investment banks for fraud, Trump can replace the director of the office in charge of ensuring investment fairness, in order to quash a complaint. And I didn't touch on how "CHOICE" removes regulations to protect miners - you know, the people in the small towns who Paul Ryan claims to want to help make more money...

But the big target is going to be old people. Retirees with money that can be siphoned away by investment bankers and broker dealers through some silver tongued words lickety split. Check out Boiler Room for an idea of how it will be again.
 

LoneSage

A Broken Man
20 Year Member
Yeah, the Financial "CHOICE" Act allows Trump to fire directors of Fannie Mae, Freddy Mac, and the Consumer Financial Protection Bureau.

Think about that last one. If Investors file a complaint against investment banks for fraud, Trump can replace the director of the office in charge of ensuring investment fairness, in order to quash a complaint. And I didn't touch on how "CHOICE" removes regulations to protect miners - you know, the people in the small towns who Paul Ryan claims to want to help make more money...

But the big target is going to be old people. Retirees with money that can be siphoned away by investment bankers and broker dealers through some silver tongued words lickety split. Check out Boiler Room for an idea of how it will be again.

Thanks for dumbing it down for me, you know I'm retarded.
 
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