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August 15, 2017 | Under the Radar: Bankers Still in Charge in Washington

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel ( Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog:

The daily spectacle of Mr. Trump is proving very effective in distracting and diverting public attention, allowing the financial cartel to continue their self-serving work of queering public policies in their favor.  To wit:

The current regulatory agenda of the Securities and Exchange Commission, published in July, removed more than a dozen proposals related to Dodd-Frank, including the plan to restrict bonuses. See: Trump admin chips away at post-crisis Wall Street rules.

Obviously they don’t want anything restricting bonuses paid to the banking sector.  As shown here, financial deregulation and leaping relative pay in finance have gone hand in hand since the 1980’s.  Both have now eclipsed the extremes that helped usher in the Great Crash of ’29 and decades of suffering thereafter.  Very profitable for them indeed.  Crushingly expensive for the rest of us.  And will be again, no doubt.

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August 15th, 2017

Posted In: Juggling Dynamite

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