President Donald Trump Will “Scrap” Obama’s Dodd-Frank Law
$DIA, $SPY, $QQQ, $VXX
Donald Trump says he will deliver a plan in the next 2 weeks to rewrite the Dodd-Frank law.
A terrific result would be that Donald Trump and party members in Congress are aligned on that Top Republican priority.
The Dodd-Frank plans will be the 1st of many actions on policy issues that include healthcare, national security and a tax overhaul. Expect alignment between Mr. Trump and Congress on the dismantling of the Obama Legacy.
The populist Trump’s intentions are fairly well defined, if not publicly expressed.
Donald Trump said in an interview Tuesday that he will produce a plan that’s “close to a dismantling” of the Y 2010 financial regulation law that came in response to the 2007-2008 financial crisis.
In ongoing conversations House Republicans that are supporting Mr. Trump, including several committee and subcommittee Chairmen, are exchanging ideas informally with the Trump Campaign, says Representative Chris Collins, a New York Republican and early House backer of Mr. Trump.
This group of lawmakers meets weekly now with Trump Campaign representatives.
The spokesman for the National Federation of Independent Business, said that Dodd-Frank “shows up on our regular surveys of small business owners as an impediment to capital.” While NFIB said that it took no position on the legislation, “we expect that most small business owners would not weep over the repeal of Dodd-Frank,” he said.
The Democrats have vehemently defended the legislation, formally known as the Wall Street Reform and Consumer Protection Act.
Democratic Presidential front-runner Hillary Clinton responded to Donald Trump’s assertion that he’d repeal Dodd-Frank as “Reckless.”
Thursday, the US major stock market indexes finished at: DJIA -91.22 at 17435.40, NAS Comp -26.59 at 4712.53, S&P 500 -7.59 at 2040.04
Volume: Trade was above average with about 923-M/shares exchanged on the NYSE
- NAS Comp -5.9% YTD
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