Saturday, December 10, 2016

COHN WANTS BANKS DEREGULATED

Donald Joker Trump has played another joke on us.

His pick for the Director of the National Economic Council is Gary Cohn.

Cohn is Goldman Sachs.

In fact, Cohn is that Goldman Sachs that he wants de-regulation so that banks can go on the rampage again.

Not good.

Now just a few years after the crash, perhaps the memory of people’s suffering has dimmed in Cohn's brain, or the hunger for risk-taking is back.

Cohn has given numerous speeches to universities and has consistently lobbied Congress, arguing that although banks are safer now than pre-2008, they are not better. His logic is that banks being hampered by regulations means that consumers suffer. Has he conveniently forgotten how much we suffered without regulations less than a decade ago?

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