The Republican-led House on Thursday voted to free Wall Street from many of the constraints put in place after the 2008 financial crisis, the opening salvo in what is likely to be a protracted battle over deregulation of the powerful banking industry.
Big banks, from Goldman Sachs to Bank of America, would face less scrutiny, and other large financial institutions, such as insurance giant MetLife, could escape tougher rules allaltogether under the legislation approved largely along party lines.
The Trump administration backed the bill, the Financial Choice Act, as part of a multipronged effort to ease banking regulations to spur economic growth. The legislation probably will face stiff resistance in the Senate, but it provides a road map of sorts for the policies the president plans to put in place as he appoints new regulators. Trump, who has complained about tight lending practices, has ordered three reviews of banking rules, the first of which Treasury Secretary Steven Mnuchin is set to deliver as soon as next week.
Yes, they're sneaking things through while this circus is going on. They already got bank deregulation done this week. The last time we had rules like this, it built up into a bubble that caused the 2008 economic crisis.
House passes sweeping legislation to roll back banking rules
This is a case of the foxes rewriting our banking laws.
Yes - it passed almost unnoticed through the House of Representatives with barely a whit of coverage in the press. The article does say:I thought it still have to pass through congress first
The legislation probably will face stiff resistance in the Senate, but it provides a road map of sorts for the policies the president plans to put in place as he appoints new regulators. Trump, who has complained about tight lending practices, has ordered three reviews of banking rules, the first of which Treasury Secretary Steven Mnuchin is set to deliver as soon as next week.
Trump is just obsessed with NATO members not paying their back rent. Very grumpy, upping the rate and threatening to cut the Pentagon budget he promised his voter he'd lavishly spend on because: IS & China. I'm waiting until the greedy old bugger hears about the Marshall Plan. Think of the vig on that. So unfair!...
During the dinner, Trump went off-script to criticize allies again for not spending enough on defense. (The United States is one of only five members that meets NATO members’ pledge to spend 2 percent of GDP on defense.)
Several sources briefed extensively on the dinner say he said 2 percent wasn’t enough and allies should spend 3 percent of GDP on defense, and he even threatened to cut back U.S. defense spending and have Europeans dole out “back pay” to make up for their low defense spending if they didn’t pony up quickly enough. Two sources say Trump didn’t mention Russia once during the dinner.
“Oh, it was like a total shitshow,” said one source, who spoke on condition of anonymity as they weren’t authorized to discuss the closed-door dinner.
“The dinner was far worse than the speech,” said a former senior U.S. government official briefed on dinner. “It was a train wreck. It was awful.”
NATO headquarters declined to comment on the dinner. “This was a confidential dinner of allied leaders and we respect their confidence,” a NATO spokesperson said.
Trump’s actions during his Brussels visit, both in public and behind closed doors, shed light on how the transatlantic relationship has soured in just the few short months since Trump took office.
His decision to deliberately omit a line of his speech in which he pledged to honor NATO’s Article 5 collective defense clause also showcases another example of Trump going off script — a move that blindsided his national security team, as Politico reported.
Jim Townsend, the former top Pentagon envoy to NATO during President Barack Obama’s administration, said the visit damaged Washington’s standing with its closest allies. “[Trump] has no self control,” Townsend said. “He made his point — rudely, I thought — so why not use the dinner behind closed doors to talk about anything: Russia, strategy, Afghanistan. He didn’t.”
...
Yes, they're sneaking things through while this circus is going on. They already got bank deregulation done this week. The last time we had rules like this, it built up into a bubble that caused the 2008 economic crisis.
House passes sweeping legislation to roll back banking rules
This is a case of the foxes rewriting our banking laws.
The aptly named Swamp Diary guesses what's going on under Trump's hair piece....
For students of Trump’s history, the current drama resembles a grander remake of his previous housing, tax, sex, “university,” charity and loan intrigues, one with higher production values but the same basic plot: Trump plunging Trump into trouble. Inside his head, the president has got to be replotting the usual escape plan that has saved him when he’s found himself cornered. He’ll offer to buy his way out of trouble by paying a large fine but admit no wrongdoing.
Watch this place for his future plea bargains.
Last month, cops found bomb-making material, weapons, and ammo in the garage of his Tampa Palms apartment. On his bedroom dresser, a framed picture of Oklahoma City bomber Timothy McVeigh. On his computer, Nazi and white supremacist propaganda.
The 21-year-old, who is a member of the Florida National Guard, admitted to being a neo-Nazi sympathizer, and to making explosives materials.
In federal court Thursday, we learned while cops were discovering all of this disturbing evidence, Brandon Russell went shopping to buy more guns and 500 rounds of ammo. This time he took a buddy along who shares the same neo-Nazi beliefs.
Russell's dangerous plot came to light after his roommate, Devon Arthurs was arrested and charged with the murder of their two other roommates. Arthurs led police to the bodies and to Russell's bombs.
Arthurs says all of the roommates, Jeremy Himmelman, Andrew Oneshuk, and Brandon Russell were neo-Nazi believers, but recently Arthurs converted to the Islamic faith and turned on his roommates. Especially, he says, they disrespected his new Muslim beliefs.
Arthurs told cops Brandon Russell often threatened, on white supremacist websites, to blow up buildings and kill people.
The jittery old poop perhaps should be committed.Weeks after omitting any mention of NATO’s collective defense provisions during a speech at the treaty organization’s headquarters, President Donald Trump on Friday explicitly recommitted the U.S. to its Article 5 obligations.
“Well, I'm committing the United States, and have committed, but I'm committing the United States to Article 5,” the president said in response to a question from a Romanian reporter. “Yes, absolutely I'd be committed to Article 5.”
...
It's as stupid as it is sad
ARE YOU TIRED OF WINNING YET?! ARE YOU?!so much winning.
Christ Almighty, look at this display at Trump's first full cabinet meeting. You can almost see the gears turning in their heads as each tries to think of more elaborate ways to lick his orange ass when it comes their turn.
It's not quite the same as a parliamentary system, where the leader of the Government already has a pool of MPs he or she already knows to choose from, and where usually, there are already "shadow ministers" for most roles ready to hit the ground running. The US President has to "pick from fresh" people he or she thinks can do the job - usually folks who've held office at national or state level, but sometimes people with less political experience, like from business. Most of the time though, they'll have already been drawing up a list and talking to prospective appointees as soon as they get the party nomination. Once picked, they have to go through approval hearings in the Senate, ethical clearance, etc., and that can take time - especially if the majority in the Senate is the opposite party (well, if they're Republicans actually) as they tend to give nominees a hard ride or block the appointment of those they don't like.Why are they having their first cabinet meeting now, six months after getting into office?
In the UK, the prime minister usually holds the first cabinet within days of being elected. Same with your elections, what takes us six weeks to do takes you Yanks a whole year. It seems you lot like to do politics in the slow lane.
Judge ye not lest ye be judged innit.Why are they having their first cabinet meeting now, six months after getting into office?
In the UK, the prime minister usually holds the first cabinet within days of being elected. Same with your elections, what takes us six weeks to do takes you Yanks a whole year. It seems you lot like to do politics in the slow lane.
Judge ye not lest ye be judged innit.
After a year (a fucking year!) there's really no coherent British policy on severing their most important trade relationship in the name of sovereignty. A Labour leader who seemed to be snoozing on his allotment during the referendum proves to be able enough to scare but not beat the Tories. No 10 is contemplating hanging on in a humiliating CON-DUP pact. The Tories are in La La Land about their negotiation position with the EU. Viewed from abroad this looks pretty dysfunctional even in comparison with Trump.
A friend of President Trump said Monday that Trump is considering firing special counsel Robert Mueller, who is leading the FBI investigation into potential ties between the Trump campaign and Russia.
“I think he’s considering perhaps terminating the special counsel,” Chris Ruddy told PBS’ Judy Woodruff on “PBS NewsHour.”
“I think he’s weighing that option.”
Is it because he keeps sacking people or they resign before the cabinet is completed and they can meet?Why are they having their first cabinet meeting now, six months after getting into office?
In the UK, the prime minister usually holds the first cabinet within days of being elected. Same with your elections, what takes us six weeks to do takes you Yanks a whole year. It seems you lot like to do politics in the slow lane.