Carper Coy on Congress Capo Convo
How utterly sick would it be for Carper to be the Senate minority leader? The answer is, so nauseatingly sick.
As early as Wednesday, the House will take up H.R. 6392, the Systemic Risk Designation Improvement Act. This bill would lift mandatory Dodd-Frank regulatory supervision for all banks with more than $50 billion in assets, meaning those financial giants would no longer be subject to blanket requirements regarding capital and leverage, public disclosures and the production of “living wills” to map out how to unwind during a crisis.... You can see with this bill’s framework how financial regulation in the Trump era will be relaxed, not by outright repeal but through deliberate atrophy. Republicans want to replace any mandatory rules for regulation with discretionary ones. That way they can claim that they’re merely improving the system by putting the decisions in the hands of the experts instead of members of Congress.