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Old 11-25-2017, 09:34 PM
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Default Can we talk?

Is anyone here on the right worried that Trump broke a law put in place to protect us from crooked bankers?
the dodd frank law was not strong enough, most of us agree but one thing it did do was keep banks from doing most of the awful things that caused the great recession.

One caveat is that when a chairman of that oversight group retires, he is followed by a pick of his choice usually the number 2 man on that job.
this keeps political appointments at bay but more importantly keeps lobbyists from interfering with or watering down the safety measures put in.
#1 why would Trump do this?
#2 do you think the president (remember there will be opposing party potus some day) should wrest even more power?
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Old 11-25-2017, 09:41 PM
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Default Re: Can we talk?

Quote:
Originally Posted by saltwn View Post
Is anyone here on the right worried that Trump broke a law put in place to prot;ect us from crooked bankers?
the dodd frank law was not strong enough, most of us agree but one thing it did do was keep banks from doing most of the awful things that caused the great recession.

One caveat is that when a chairman of that oversight group retires, he is followed by a pick of his choice usually the number 2 man on that job.
this keeps political appointments at bay but more importantly keeps lobbyists from interfering with or watering down the safety measures put in.
#1 why would Trump do this?
#2 do you think the president (remember there will be opposing party potus some day) should wrest even more power?
I believe that HE will, at least, TRY.
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Old 11-25-2017, 10:10 PM
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Default Re: Can we talk?

Quote:
Originally Posted by saltwn View Post
Is anyone here on the right worried that Trump broke a law put in place to protect us from crooked bankers?
the dodd frank law was not strong enough, most of us agree but one thing it did do was keep banks from doing most of the awful things that caused the great recession.

One caveat is that when a chairman of that oversight group retires, he is followed by a pick of his choice usually the number 2 man on that job.
this keeps political appointments at bay but more importantly keeps lobbyists from interfering with or watering down the safety measures put in.
#1 why would Trump do this?
#2 do you think the president (remember there will be opposing party potus some day) should wrest even more power?
What law did President Trump break?

And exactly how?
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Old 11-25-2017, 10:42 PM
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Default Re: Can we talk?

Quote:
Originally Posted by saltwn View Post
Is anyone here on the right worried that Trump broke a law put in place to protect us from crooked bankers?
the dodd frank law was not strong enough, most of us agree but one thing it did do was keep banks from doing most of the awful things that caused the great recession.

One caveat is that when a chairman of that oversight group retires, he is followed by a pick of his choice usually the number 2 man on that job.
this keeps political appointments at bay but more importantly keeps lobbyists from interfering with or watering down the safety measures put in.
#1 why would Trump do this?
#2 do you think the president (remember there will be opposing party potus some day) should wrest even more power?
Wrong on the facts, the consumer credit Commissar can under Dodd Frank appoint a temporary successor to serve until a new Commissar is appointed and confirmed. That power is superseded by the Federal vacancies act which gives the President the authority to fill these vacancies. The law and precedent favor President Trump.

Naturally Democrats had plans to obstruct confirmation of any appointment Trump might make allowing the Commissar to in effect choose his successor. Elections have consequences only when Democrats win.

As for Dodd Frank not being strong enough, it has shrunk the number of big banks to seven and created a slush fund to bail the out the next time one of the chosen banks gets into trouble. In a city with millions of square feet of unused Federal office space the Consumer Credit Commissar spent hundreds of million in tax money building palatial new offices complete with indoor waterfall for himself and his army of bureaucrats. But with an unlimited budget and no Congressional oversight who needs to worry about costs?
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Old 11-25-2017, 10:55 PM
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Old 11-25-2017, 11:04 PM
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Default Re: Can we talk?

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Originally Posted by AZRWinger View Post
Wrong on the facts, the consumer credit Commissar can under Dodd Frank appoint a temporary successor to serve until a new Commissar is appointed and confirmed. That power is superseded by the Federal vacancies act which gives the President the authority to fill these vacancies. The law and precedent favor President Trump.

Naturally Democrats had plans to obstruct confirmation of any appointment Trump might make allowing the Commissar to in effect choose his successor. Elections have consequences only when Democrats win.

As for Dodd Frank not being strong enough, it has shrunk the number of big banks to seven and created a slush fund to bail the out the next time one of the chosen banks gets into trouble. In a city with millions of square feet of unused Federal office space the Consumer Credit Commissar spent hundreds of million in tax money building palatial new offices complete with indoor waterfall for himself and his army of bureaucrats. But with an unlimited budget and no Congressional oversight who needs to worry about costs?
I'll take your word that filling vacancies might be superseded by the president, he does have a lot of power. we've been seeing that for years now.
but so far the present commission has stopped additional banks from getting too big to fail. And there is a watch on what banks do in relation to the schemes they came up with leading to the recession.
Also who trump wants to appoint is against having an oversight agency to guard against selling 100% of your mortgage to 300% of its actual total.
Why would he do that?
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Old 11-25-2017, 11:10 PM
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Default Re: Can we talk?

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Originally Posted by jimbo View Post
What law did President Trump break?

And exactly how?
in the dodd frank act they set up a commission to oversee banking practices. to prevent politics or lobbyists from interfering, the head of the commission picks the successor when he retires or it goes to the number 2 in command. the retiring chairman upon retiring recently appointed his vice chair before he left. trump then appointed a temporary chair till one is appointed or confirmed. but one has already been appointed and does not need confirmation. since it is a government employee already vetting is not needed and this was thought to prevent corruption like what occurred in the 70s and 2008.
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Old 11-26-2017, 10:23 AM
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Default Re: Can we talk?

Quote:
Originally Posted by saltwn View Post
in the dodd frank act they set up a commission to oversee banking practices. to prevent politics or lobbyists from interfering, the head of the commission picks the successor when he retires or it goes to the number 2 in command. the retiring chairman upon retiring recently appointed his vice chair before he left. trump then appointed a temporary chair till one is appointed or confirmed. but one has already been appointed and does not need confirmation. since it is a government employee already vetting is not needed and this was thought to prevent corruption like what occurred in the 70s and 2008.
What law was broken?
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Old 11-26-2017, 10:37 AM
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Default Re: Can we talk?

Jimbo will probably keep asking what law Trump broke instead of addressing the issue of consumer protection and why it was set up like it was. This is what he calls debate. Simply excusing Trump. I have him on ignore but I will bet a donut that is his response to all of this.
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Old 11-26-2017, 10:41 AM
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Default Re: Can we talk?

Trump is infallible.
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