At a speech this morning, ranking member of the Senate Banking Committee, Sherrod Brown, said “what we will not do is a wholesale rollback of Dodd-Frank.” That would be counterproductive… the law is working.”
How does it feel Trumpsters? Your beloved leader is literally hopeless, unable to get nothing done in an establishment controlled house and senate. This utterly powerless democratic senator just beat out the fuck down.
“Big changes create uncertainty, which is bad for everyone,” he said.
In spite of Trump ordering a rewrite of rage bill and dismantling of its key components, Sen. Brown and his good pal, Republican Chairman of the banking panel, Sen. Mike Crapo, like it just fine. Sen. Brown even took time out to praise his colleague and tell the people who paid him to make his speech that they were very much interested in policy that could ‘foster economic growth.’
“The days of the Senate Banking Committee and its dysfunction and, let’s just say less than busy work ethic, I hope is behind us,” he said. “We both have a commitment to work on issues we can come together on.”
He didn’t exactly elaborate which policies he’d support to foster said growth, considering his strict adherence to normality and status quo, fearing change could upset the nice little apple cart he has set up for himself.
Bank ETF, $XLF, is sharply lower on this news.
Even the banks do not want a complete rollback of Dodd-Frank. They wanted modifications of the worst provisions. So this is only news to fanatics who thought it was going away completely.
It’s really all because of DB.
WHO the fuck or WHAT the fuck is “DB”?
How long does it take to type 4-8 extra letters?
@rigged, you are being such a DB lately
How long does it take to google DB?
@ Rigged…Deutsche Bank. But @ Bruce, I disagree……..I believe that it had to do much more with the Telegraph Piece on The Global Laundromat added with the Comments from BoE Carney on the credibility of the UK Banks. BTW it sucks so much being the only Bear left in the world.
@ TradingNymph …was just thinking about you the other day. Hope all is well
@anjing All Good, lol. Still watching that Massive, Massive, Massive China Commodity bubble, lol. Still having way too much fun. And you?
You’re not the only bear. I just came out of hibernation. We’ll see though. QE is powerful and Japan hasn’t given up and ECB is 60bil EUR a month ’til December. Clearly this was a pretty powerful move on good volume though so might be good for a week or two. If DB is in real trouble, then we could have a Lehman type event… who knows?
lol actually Japan and Swiss are more in trouble. They have painted themselves in a corner with all the Bonds, bonds, f/x they are holding. They are the only central banks that remain totally dovish. (well that and RBA). What IMHO is the big elephant were the comment out of China during their congress indicating that GDP will be something around 6.5. Since then, even with major copper strikes, the futures in china have not been giddy. Also the 18 cities that have added conditions to home buying. ECB may raise before their QE is finished per members last week. The Global Laundromat story IMHO has a lot of legs. Already China Press is picking it up. Organized Crime Money not flowing through the banks, and banks being examined for these illegal activities.
Doing well. My dogs are doing great and the winter was pretty easy up here. looking forward to spring and the trades setting up for the summer harvest……
Us in California had a really really wet winter, lol. Good for crops and stuff too here for sure. Plus, the water police will not be so crazy about my pool and green lawn, lol.
Good to see you again! Now be careful of the dream police. 😉