Prior to a meeting with his economic advisory council on Friday morning, President Donald Trump held a briefing to set the agenda for it. “There’s nobody better to tell me about Dodd-Frank than Jamie,” Trump said, referring to 2010’s Dodd-Frank Act, the single most visible legislative consequence of the banking crisis, and also to J.P. Morgan’s CEO, Jamie Dimon, with whom he would later meet to discuss regulation. “We expect to be cutting a lot out of Dodd-Frank,” Trump said. “I have so many people, friends of mine, with nice businesses, they can’t borrow money, because the banks just won’t let them borrow because of the rules and regulations and Dodd-Frank.”

Emphasis my own.

am_Unition:

It's being, err, "spun" as though Dodd-Frank damaged the economy. Isn't the more conservative statement "the economy improved while Dodd-Frank was being adopted and has been in place (with no attribution/correlation invoked)" widely regarded to be true among both economists and business owners? Maybe Spicer could have said "Despite Dodd-Frank, we managed to improve our economy anyway" in a slightly different alt-reality.

This White House must be running out of steam. The tragically-fulfilled-to-verbatim campaign promises are piling up, and sure, I'm pretty banged up myself from all the national news, but there's still enough minds paying enough attention to make this pace of executive branch tomfoolery pretty unsustainable. Right? Maybe a lot of folks are planning to pin their every sin on Trump, but I think more than one politician, cabinet member, or business associate is going to wind up in the slammer before we're back on track.


posted 2630 days ago