So Trump signed two executive orders on Friday 2/3 taking aim at financial regulations. The first takes aim at Dodd-Frank, which, if dismantled or substantially weakened, would have major effects on the stock market, and, in all likelihood, expected returns.
That's what the article focuses on. Basically, leverage would come back like a motherfucker, shitty mortgages that homeowners can't afford would spring up again, big banks would be able to be more reckless, and the economic cycle would almost certainly be put on fast-forward.
The other executive order was aimed at taking out the fiduciary rule, which calls for financial advisors to act in the best interest of their clients and not sell em shitty, high-cost funds that they get kickbacks for. Sounds like why the hell wouldn't you want that? How can that possibly be bad (except for the advisors)? But Trump wants it gone before it's even enacted, which was set to happen April 10.
Submitted February 06, 2017 at 02:41PM by pigletsdaughter http://ift.tt/2kApX98
