[A Reblog] Repealing Dodd-Frank

During the 2007-8 Financial Crisis, I knew that people were getting royally screwed over but being a fourth grader at the time, I didn’t know why or how. However, this past year, my APUSH teacher, in the process of explaining the collapse of the stock market that caused the Great Depression, likened what happened in the late 1920s to what happened in 2007 and he also explained what Roosevelt did to add oversight to the operations of banks and other financial institutions and linked that back to what Obama signed in the form of Dodd-Frank in 2010. And yet, despite having gone through at least two major depressions for about the same reasons, Congress is now getting ready to get rid of the controls that would prevent another one from happening.

Since I’m not very well-versed in the intricacies of economic ongoings nor am I familiar with how it affects individuals because I have yet to leave the nest, I’ve found someone who can speak about it. Check it out!

This is Lieutenant and I’ll talk to you later.

 

Donald Trump wants the big banks to take the kind of risk that caused the housing crisis. I started working in the hedge fund industry as an accountant in 2008. I saw their books, including some held at Lehman Brothers. It was mostly a bunch of write-offs and unwinds and legal payments.

via Repealing Dodd-Frank — Trump Diaries

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