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OrdinaryAddss t1_jebtlaj wrote

Reply to comment by lawthrowaway101 in Biden pressures US regulators to toughen bank rules by lawthrowaway101

We had some and then Trump and his cronies loosened them again. This isn’t a purely Republican created problem, but they are a main cause of shit regs

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oldscoolwitch t1_jeee8uc wrote

You obviously just consume news headlines and have no idea what you are talking about.

All banks and the Fed have entire divisions devoted to stress testing and risk management built after the financial crisis that was supposed to stop exactly what happened from happening.

This is all political theater. The reality is that the banking system is ultimately too complicated and a complex system of this size is going to have parts that are brittle. We will always be fixing things in the rear view mirror while journalist write BS for people like you to consume.

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JohnLaw1717 t1_jeez0de wrote

Here's some paragraphs I found within the articles:

"The legislation eases regulations on all but a handful of the nation’s largest banks, and marks a significant victory in Trump’s efforts to cut rules in a bid to spur economic growth."

https://www.reuters.com/article/us-usa-trump-dodd-frank/trump-signs-bill-easing-u-s-bank-rules-into-law-idUSKCN1IP2WX

"President Donald Trump signed the biggest rollback of bank regulations since the global financial crisis into law Thursday."

https://www.cnbc.com/2018/05/24/trump-signs-bank-bill-rolling-back-some-dodd-frank-regulations.html

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