President-elect Donald Trump and his advisers are reportedly considering plans to weaken—or abolish altogether—top bank regulators, including the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency.
The Wall Street Journal reported Thursday that members of Trump’s transition team and the new Elon Musk-led Department of Government Efficiency have asked nominees under consideration to head the FDIC and OCC if the bank watchdogs could be eliminated and have their functions absorbed by the Treasury Department, which is set to be run by a billionaire hedge fund manager and crypto enthusiast.
“Bank executives are optimistic President-elect Donald Trump will ease a host of regulations on capital cushions and consumer protections, as well as scrutiny of consolidation in the industry,” the Journal reported. “But FDIC deposit insurance is considered near sacred. Any move that threatened to undermine even the perception of deposit insurance could quickly ripple […]
Here’s another glaring reason of terrible decisions indicating what Americans are in for in the next 4 years!!! These ultra-billionaires could care less if they lost a million, but most Americans would be devastated if they lost $10,000. You can’t trust these ultra-rich; they have no concept of what the average American deals with and how hard it is to make enough money today to just buy a house or a car, or even rent an apartment. We now must depend on vocal Dems in Congress to stand up for what is right for the middle and lower classes of America.
I keep wondering how many Americans are aware of what is happening.
.. i.e. ‘everyone’ of any particular group is a blanket statement that
supports bias, prejudice and even hate. While there be a current trend in relation to billionaires, there are also those at that financial level give considerable amounts of money and support to people and communities in need
It’s like saying ‘the only thing all women want is a man with lots of money. Or ALL teenagers ae disruptive and lack respect
Every individual, every situation has a myriad of possiblities and potential turning points for afffirming change. We need to hold space for connecton and step back from instant biased opinions. .