Posted: September 30, 2016
I watched most of the debate on Monday night between Republican GOP Presidential candidate nominee Donald Trump and Democratic Presidential Hillary Clinton and came away with the belief that Hillary Clinton won the debate. I didn't hear about Donald Trump's deal with his house and he didn't acknowledge his deal with his federal taxes, which is crazy to me.
I am going to vote for Ohio Governor John Kasich, who to me, represents what I would want in a president. Hillary Clinton reversed her decision about the Trans Pacific Partnership (TPP), which she originally supported. "She said it was generated by, but she didn't know why she approved it".
Every Republican GOP presidential candidate has said that Donald Trump is not presidential and I agree personally.
RANDOM THOUGHT#1: In the wake of the 2008 financial meltdown, Congress did what it generally does after a crisis: It passed a law. Among other things, this law, known as Frand-Dodd, required major banks to maintain bigger buffers against downturns in the economy, refrain from running hedge-fund trading desks and produce a "living will" that could be used to liquidate them if they are faltering. The law also created the Consumer Protection Bureau (CFPB). Dodd-Frank has its flaws, but by and large has made Wall Street less like Las Vegas. Earlier this month, one of its provisions showed its worth as the CFPB caught Wells Fargo red-handed, creating bank and credit accounts for people who nothing about them, just so that personnel could meet sales goals.
But after the bank bailouts in 2008, the public was promised "never again". Unfortunately, the same congressional architects of that bailout that included Senators Chris Dodd and Barney Frank, enacted legislation giving regulators the permanent option of bailouts, as enshrined in the Dodd-Frank act. Those opposed to the Congress decision to deliver on the "no bailout" promise to reduce the reliance on the same regulators who missed the last crisis.
Known as the Core to the Choice Act, introduced by Representative Jeb Hensarling, it appears that government guarantees is at the fundamental flaw of our government to: Reduce capital, that unfortunately leads to excessive leverage and widespread insolvencies whenever asset value, such as houses, decline.
Given Wall Street's deceptions and miscalculations in creating the financial crisis, it's a wonder that anyone would think it needs regulatory relief. Equally, mistyfying is why anyone that promotes Wall Street is a political winner in an election year.