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mrsrainbow
LIF Adult
Member since 1/17 1465 total posts
Name:
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Repeal of Dodd-Frank
Great. Now we're giving big banks back all their control so they can ruin the economy again and profit. When are people going to wake up. He's doing everything he can for all his rich cronies st our expense.
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Posted 2/4/17 7:55 AM  |
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bookworm
Two Little Rosebuds
Member since 8/09 2106 total posts
Name:
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Re: Repeal of Dodd-Frank
I need someone who understands constitutional law to explain to me how an executive order can scale back legislation that was passed by two houses of Congress and signed into law by the president.
Does the constitution really afford him this simple device to run roughshod over the legislative process and system of checks and balances?
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| Posted 2/4/17 8:12 AM |
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Chai77
Brighter days ahead
Member since 4/07 7364 total posts
Name:
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Re: Repeal of Dodd-Frank
I don't know, but apparently he can and is. Maybe it's up to the judicial branch to sanction him? Like with the Muslim ban. I took AP US Gov but this experience is making me want to study law so I can more fully understand how these things work.
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| Posted 2/4/17 8:34 AM |
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MrsT809
LIF Adult
Member since 9/09 12167 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by Chai77
I don't know, but apparently he can and is. Maybe it's up to the judicial branch to sanction him? Like with the Muslim ban. I took AP US Gov but this experience is making me want to study law so I can more fully understand how these things work.
Maybe the president should do the same
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| Posted 2/4/17 8:39 AM |
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2BadSoSad
LIF Adult
Member since 8/12 6791 total posts
Name:
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Re: Repeal of Dodd-Frank
This is my question also, can he really just rule by executive action on everything?????
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| Posted 2/4/17 12:10 PM |
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Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
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Re: Repeal of Dodd-Frank
They aren't going to take away all of Dodd-Frank. If you truly understand the ins and outs of the legislation you would know that there are parts of it that were poorly done. Even the Democrats agreed to that when it was passed. The legislation is over 2000 pages long (I would bet most that past it didn't even read it) and it took several years to implement. Some think that parts of it, like the building out of the CFPB were unconstitutional. I think the CFPB will stay in tact (the work they do on behalf.of the consumer is beneficial), but this order will allow for more oversight of their budget and make them more accountable.
The theory was that it would ensure that banks are too big to fail. It didn't succeed in that. It has made lending so stringent that there are middle class people amd small businesses that can't qualify for loans. There has to be a middle road when it comes to overseeing the banks.
I will be watching this closely to see what kind of changes are made. This could be very positive for the consumers and the economy.
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| Posted 2/4/17 2:50 PM |
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MichLiz213
Life is Good!
Member since 7/07 7979 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by Jenhos
They aren't going to take away all of Dodd-Frank. If you truly understand the ins and outs of the legislation you would know that there are parts of it that were poorly done. Even the Democrats agreed to that when it was passed. The legislation is over 2000 pages long (I would bet most that past it didn't even read it) and it took several years to implement. Some think that parts of it, like the building out of the CFPB were unconstitutional. I think the CFPB will stay in tact (the work they do on behalf.of the consumer is beneficial), but this order will allow for more oversight of their budget and make them more accountable.
The theory was that it would ensure that banks are too big to fail. It didn't succeed in that. It has made lending so stringent that there are middle class people amd small businesses that can't qualify for loans. There has to be a middle road when it comes to overseeing the banks.
I will be watching this closely to see what kind of changes are made. This could be very positive for the consumers and the economy.
See, and I thought the CFPB would be dismantled. Republicans fought Warren on that from the very beginning. I'm glad it will remain intact.
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| Posted 2/4/17 3:26 PM |
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Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by MichLiz213
Posted by Jenhos
They aren't going to take away all of Dodd-Frank. If you truly understand the ins and outs of the legislation you would know that there are parts of it that were poorly done. Even the Democrats agreed to that when it was passed. The legislation is over 2000 pages long (I would bet most that past it didn't even read it) and it took several years to implement. Some think that parts of it, like the building out of the CFPB were unconstitutional. I think the CFPB will stay in tact (the work they do on behalf.of the consumer is beneficial), but this order will allow for more oversight of their budget and make them more accountable.
The theory was that it would ensure that banks are too big to fail. It didn't succeed in that. It has made lending so stringent that there are middle class people amd small businesses that can't qualify for loans. There has to be a middle road when it comes to overseeing the banks.
I will be watching this closely to see what kind of changes are made. This could be very positive for the consumers and the economy.
See, and I thought the CFPB would be dismantled. Republicans fought Warren on that from the very beginning. I'm glad it will remain intact.
Republicans fought the structure of the CFPB. I don't see it going away completely but a big change in the structure. I could be wrong but we will have to wait and see.
I just hate to see people panic when 1. They don't necessarily understand what they are talking about (I am not directing the they at anyone specific) 2. Until they see what the changes will be
This is a very complex regulation.
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| Posted 2/4/17 3:42 PM |
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bookworm
Two Little Rosebuds
Member since 8/09 2106 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by Jenhos
They aren't going to take away all of Dodd-Frank. If you truly understand the ins and outs of the legislation you would know that there are parts of it that were poorly done. Even the Democrats agreed to that when it was passed. The legislation is over 2000 pages long (I would bet most that past it didn't even read it) and it took several years to implement. Some think that parts of it, like the building out of the CFPB were unconstitutional. I think the CFPB will stay in tact (the work they do on behalf.of the consumer is beneficial), but this order will allow for more oversight of their budget and make them more accountable.
The theory was that it would ensure that banks are too big to fail. It didn't succeed in that. It has made lending so stringent that there are middle class people amd small businesses that can't qualify for loans. There has to be a middle road when it comes to overseeing the banks.
I will be watching this closely to see what kind of changes are made. This could be very positive for the consumers and the economy.
Thank you, this is great information.
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| Posted 2/4/17 6:18 PM |
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mrsrainbow
LIF Adult
Member since 1/17 1465 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by Jenhos
Posted by MichLiz213
Posted by Jenhos
They aren't going to take away all of Dodd-Frank. If you truly understand the ins and outs of the legislation you would know that there are parts of it that were poorly done. Even the Democrats agreed to that when it was passed. The legislation is over 2000 pages long (I would bet most that past it didn't even read it) and it took several years to implement. Some think that parts of it, like the building out of the CFPB were unconstitutional. I think the CFPB will stay in tact (the work they do on behalf.of the consumer is beneficial), but this order will allow for more oversight of their budget and make them more accountable.
The theory was that it would ensure that banks are too big to fail. It didn't succeed in that. It has made lending so stringent that there are middle class people amd small businesses that can't qualify for loans. There has to be a middle road when it comes to overseeing the banks.
I will be watching this closely to see what kind of changes are made. This could be very positive for the consumers and the economy.
See, and I thought the CFPB would be dismantled. Republicans fought Warren on that from the very beginning. I'm glad it will remain intact.
Republicans fought the structure of the CFPB. I don't see it going away completely but a big change in the structure. I could be wrong but we will have to wait and see.
I just hate to see people panic when 1. They don't necessarily understand what they are talking about (I am not directing the they at anyone specific) 2. Until they see what the changes will be
This is a very complex regulation.
Well excuse me for not having a degree in finance 
But when the president says he wants to repeal
Part of Dodd Frank to benefit his friends who can't loans, I'm concerned. Not panicking.
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| Posted 2/4/17 8:04 PM |
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Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by mrsrainbow
Posted by Jenhos
Posted by MichLiz213
Posted by Jenhos
They aren't going to take away all of Dodd-Frank. If you truly understand the ins and outs of the legislation you would know that there are parts of it that were poorly done. Even the Democrats agreed to that when it was passed. The legislation is over 2000 pages long (I would bet most that past it didn't even read it) and it took several years to implement. Some think that parts of it, like the building out of the CFPB were unconstitutional. I think the CFPB will stay in tact (the work they do on behalf.of the consumer is beneficial), but this order will allow for more oversight of their budget and make them more accountable.
The theory was that it would ensure that banks are too big to fail. It didn't succeed in that. It has made lending so stringent that there are middle class people and2 small businesses that can't qualify for loans. There has to be a middle road when it comes to overseeing the banks.
I will be watching this closely to see what kind of changes are made. This could be very positive for the consumers and the economy.
See, and I thought the CFPB would be dismantled. Republicans fought Warren on that from the very beginning. I'm glad it will remain intact.
Republicans fought the structure of the CFPB. I don't see it going away completely but a big change in the structure. I could be wrong but we will have to wait and see.
I just hate to see people panic when 1. They don't necessarily understand what they are talking about (I am not directing the they at anyone specific) 2. Until they see what the changes will be
This is a very complex regulation.
Well excuse me for not having a degree in finance
But when the president says he wants to repeal
Part of Dodd Frank to benefit his friends who can't loans, I'm concerned. Not panicking.
Sorry occupational hazard for me!!! People (and I am not saying you) are so quick to say people who aren't in an uproar about something are uneducated or racist etc. Works on both sides that people grab on to something and run with it even if they don't know all the facts. Not sure where you heard him say he wants to repeal it to benefit his friends, but the reality is it will help big business but more importantly it will help small businesses as well as individuals who want to start businesses, buy houses, buy cars etc. and need loans.
I worked in a major financial institution and rolled out Dodd-Frank there and will now be on a very different side of it based on where I work now. It is going to be a long sticky road but not necessarily a bad thing.
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| Posted 2/4/17 11:43 PM |
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mrsrainbow
LIF Adult
Member since 1/17 1465 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by Jenhos
Posted by mrsrainbow
Posted by Jenhos
Posted by MichLiz213
Posted by Jenhos
They aren't going to take away all of Dodd-Frank. If you truly understand the ins and outs of the legislation you would know that there are parts of it that were poorly done. Even the Democrats agreed to that when it was passed. The legislation is over 2000 pages long (I would bet most that past it didn't even read it) and it took several years to implement. Some think that parts of it, like the building out of the CFPB were unconstitutional. I think the CFPB will stay in tact (the work they do on behalf.of the consumer is beneficial), but this order will allow for more oversight of their budget and make them more accountable.
The theory was that it would ensure that banks are too big to fail. It didn't succeed in that. It has made lending so stringent that there are middle class people and2 small businesses that can't qualify for loans. There has to be a middle road when it comes to overseeing the banks.
I will be watching this closely to see what kind of changes are made. This could be very positive for the consumers and the economy.
See, and I thought the CFPB would be dismantled. Republicans fought Warren on that from the very beginning. I'm glad it will remain intact.
Republicans fought the structure of the CFPB. I don't see it going away completely but a big change in the structure. I could be wrong but we will have to wait and see.
I just hate to see people panic when 1. They don't necessarily understand what they are talking about (I am not directing the they at anyone specific) 2. Until they see what the changes will be
This is a very complex regulation.
Well excuse me for not having a degree in finance
But when the president says he wants to repeal
Part of Dodd Frank to benefit his friends who can't loans, I'm concerned. Not panicking.
Sorry occupational hazard for me!!! People (and I am not saying you) are so quick to say people who aren't in an uproar about something are uneducated or racist etc. Works on both sides that people grab on to something and run with it even if they don't know all the facts. Not sure where you heard him say he wants to repeal it to benefit his friends, but the reality is it will help big business but more importantly it will help small businesses as well as individuals who want to start businesses, buy houses, buy cars etc. and need loans.
I worked in a major financial institution and rolled out Dodd-Frank there and will now be on a very different side of it based on where I work now. It is going to be a long sticky road but not necessarily a bad thing.
No worries I understand. And what little I do know off Dodd Frank is that it's extremely onerous, but we had a huge economic crash because of the big banks and I do believe they need regulation. I don't have a problem with reworking Dodd Frank in a way that's fair, but I'm concerned he's going to put us right back to where we were before the crash. He's not exactly a shining example of fiduciary prowess.
Here is the direct quote from the NYT: “We expect to be cutting a lot out of Dodd-Frank, because frankly, I have so many people, friends of mine that had nice businesses, they can’t borrow money,” Mr. Trump said in the State Dining Room during his meeting with business leaders. “They just can’t get any money because the banks just won’t let them borrow it because of the rules and regulations in Dodd-Frank.”
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| Posted 2/5/17 7:38 AM |
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Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
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Re: Repeal of Dodd-Frank
I think his point is that business owners took a hit because of this regulation. I wouldn't over read into it.
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| Posted 2/5/17 11:20 AM |
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bookworm
Two Little Rosebuds
Member since 8/09 2106 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by Jenhos
I think his point is that business owners took a hit because of this regulation. I wouldn't over read into it.
My (personal) main concern is trying to understand the scope of the executive order as I don't remember it being used in the past to scale back existing legislation.
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| Posted 2/5/17 3:52 PM |
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mrsrainbow
LIF Adult
Member since 1/17 1465 total posts
Name:
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Re: Repeal of Dodd-Frank
Posted by Jenhos
I think his point is that business owners took a hit because of this regulation. I wouldn't over read into it.
Trust me, I'm not trying to be cynical or an alarmist - but if anyone else in the world said what he said I probably wouldn't bat an eye. We know he's corrupt, everything he is doing is corrupt in some way, so when it comes to rolling back regulations that could have potentially dangerous consequences for our economy, given his "stellar" reputation for economics and finance, I'm not inclined to give him the benefit of the doubt.
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| Posted 2/6/17 8:59 AM |
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