Banksters must be drowning in champagne right now!
With Trump administration taken over by Goldman Sachs, nothing can surprise us, anymore. The fairy tale of the 'anti-establishment' Trump who would supposedly fight for the interests of the forgotten - by the system - Americans, was collapsed even before Trump election.
What's quite surprising, is how fast the new US president - buddy of the plutocrats, is offering 'earth and water' to the top 1% of the American society, as if they had not already enough at the expense of the 99%. His recent 'achievement', was to sign for more deregulation in favor of the banking mafia that ruined the economy in 2008, destroyed millions of working class Americans and sent waves of financial destruction all over the world. Europe is still on its knees because of the neoliberal destruction and cruel austerity.
From thehill :
President Trump Friday signed a pair of executive orders aimed at lightening the regulatory load on financial institutions, setting the stage for a broader push to scale back the Dodd-Frank financial reform law.
The orders are somewhat limited in scale but indicate the new administration will make an overhaul of Wall Street rules a priority going forward.
The order itself is limited, but Trump will be able to make his mark on the law going forward, primarily by filling out key regulatory positions with his own picks. But more wholesale changes to the overall structure of those rules will likely require help from Congress.
Early indications are that Democrats are eager to criticize any efforts to make life easier for Wall Street. “The Wall Street bankers and lobbyists whose greed and recklessness nearly destroyed this country may be toasting each other with champagne, but the American people have not forgotten the 2008 financial crisis — and they will not forget what happened today,” said Sen. Elizabeth Warren (D-Mass.) in a statement.
The second order would have a more immediate impact. That executive action directs the Labor Department to halt work on a contentious rule aimed at retirement investment advisers, known as the “fiduciary duty” rule. The rule would require financial advisers to act solely for the benefit of their clients, a requirement backers say is critical to ensuring customers are not steered into pricey and ineffective investments by advisers looking to boost their commissions. The financial industry has fought the regulation, painting it as overbroad and overly burdensome. That rule was finalized last summer by the Obama administration but was not planned to take effect until April 2017. But under the order, the government is delaying implementation of that rule and ordering it to be reviewed by the Labor Department. With Trump in power, and Republicans and the financial industry longtime opponents of the regulatory effort, it is highly unlikely the rule will ever take effect in a substantially similar format.
So far, the only direct action that could be considered anti-establishment and anti-globalist by Trump, was the withdrawal of the US from TPP agreement, which, however, some claimed that it was already dead. Apart from this, Trump is absolutely committed to the dominant neoliberal doctrine, therefore, to the establishment.
Take a good look at the picture. Focus on the man who stands at the right (as we see the picture) of Trump to understand who is the real boss. The one who passes him the papers to sign. Observe the joy and satisfaction on his face. The only good thing is that, at least Trump is not pretending that he is the one who governs America:
And take a good taste of Gary Cohn: recently on Fox News, he argued fanatically in favor of deregulation, using the common neoliberal narratives propagated by the system. That is, he pretended that he cares about small and medium businesses, saying that the banks should make capital available for them. And guess what's the problem: taxes and regulation. Once the banksters get free from taxes and regulation the miracle will happen: they will start lending small-medium businesses, the real economy will flourish, the unemployment will disappear! Who cares about free healthcare and free education after all, right?
Yet, the reality is that, more than forty years of uninterrupted waves of deregulation, have brought financial catastrophe, inequality, unemployment, more poverty for the working class, more profits for the Wall Street 'gurus'.
The reality is that, Wall Street mafia celebrated because it has just achieved a primary target: deregulation.
Recall that, a leaked document back in 2014 revealed that “the EU suggests a number of mechanisms that will both scale back existing regulation, and prevent future regulation that might contradict the interests of financial corporations from both sides of the Atlantic. The leak follows news that EU negotiators have increased political pressure on the US to accept negotiations on 'financial regulatory cooperation', which the US negotiators have so far refused. [...] the US banks see the EU initiative as another welcome opportunity to attack domestic regulation, and has teamed up with its European counterparts to pressure the US administration.”
Looks like the Wall Street mafia finally found its best puppet!