Summary
Trump’s team is considering abolishing key banking regulators, including the FDIC and OCC, with plans to consolidate their functions under the Treasury Department.
Critics warn this could undermine public trust in banking, weaken deposit insurance protections, and risk another financial crisis.
The FDIC, established during the Great Depression, played a crucial role in managing the 2023 banking crisis.
Trump allies, backed by financial industry donors, are also targeting other consumer protections, reflecting sweeping deregulatory ambitions tied to Project 2025’s proposals.
Experts fear these moves could destabilize the economy.
Wasn’t lack of regulation what caused the 2008 recession?
Yes, because the bankers made dumb deals for greedy profits. and then committed a lot of fraud.
I recommend the movie The Big Short (or the book its based on)
Sort of. 2008 happened because new financial products called CDOs allowed shit loans to be turned into gold, and people insured that gold.
More regulation may have helped, but there was a very specific cause.
I think you misspelled “Poor people trying to live above their divinely ordained station!”
Yes but American voters don’t give a shit.
They found a way to blame it all on the poorz. Oh, and POC.
And supply-side-God willing, we can get back to there.
The Gospel of Supply Side jesus
In case you didn’t know, this has been animated/narrated, too:
https://www.youtube.com/watch?v=X8xU-gKK17A
I had no idea and thanks for this! :)
Look, some of us are going to make the sacrifice to supply-side-God. We gotta do everything to help the rich get richer. Cause fuck us plebs.
Can’t you just smell the freedumb?
Of what I’ve read, regulation in the direction opposite from sane too.
Yes