For once, then something (???)

The title refers to a poem by Robert Frost. You can have a look for free.

What I’d really like you to read is a BBC News page about Donald Trump.

He’s considering renewing something like the Glass-Steagall act. This was, perhaps, the last piece of legislation to be removed (in 1999) that led to the crash of 2008.

Paradoxically, while on the campaign trail, Trump threatened to revoke Dodd-Frank, which was put in by Obama to fix things a bit during the crisis.

You can read the BBC page for yourself; I’ll content myself with quotes, emphasis mine:

Mr McDonald said there are good political reasons why the president might want to take a tough line on the banking industry. “The average little guy loves to hear this, so he’s going to score points with his base and it may not hurt him politically at all because it may not get done,” he said.

Dodd-Frank was designed in part to protect consumer banking operations from riskier investment banking business. Among other provisions, it required banks keep money in reserve at levels the president has said he thinks are onerous on smaller operations.

Finally, on this administration’s ability to promise, measure, and deliver:

Earlier, US Treasury Secretary, Steve Mnuchin said he believed the American economy could be growing at a rate of three percent within two years, thanks to the administrations proposed tax reforms. On the campaign trail Trump promised growth of 4% a year. The economy is currently growing at a rate of 0.7%.

Truth? A pebble of quartz? For once, then, something?

That’s the dumb question.

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