Smart People Take Trump's Ideas To Deregulate Banking Seriously

15.12.2024 17:00

Crooks and Liars

Watch and listen, kids, as the bullshit flows like honey. Washington Post columnist Catherine Rampell is sounding the alarm over a Wall Street Journal piece a few days ago, and Republican operatives are saying, "No big deal!"

Here was the headline: "Trump Advisers Seek to Shrink or Eliminate Bank Regulators -- Advisers asked potential nominees whether Trump could abolish the FDIC."

Well, people in the financial field certainly took it seriously. Janet Yellen, for one.

Barron's reported, "Trump Advisers Seek Bank Regulator Cutbacks, Echoing Project 2025".

Sheila Bair, former chair of the FDIC, says the Treasury Department would not be a good fit for her former agency:

As a former Treasury official, big supporter of the Department, but it would not be a good home for deposit insurance. Deposit insurance is funded by bank premiums, not taxpayers. Treasury has no expertise in handling bank failures. Changing the guarantor would create confusion…

— Sheila Bair (@SheilaBair2013) December 13, 2024
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