The Trump administration’s crypto corruption, rampant deregulation, and dropped crypto enforcement cases has greenlit the worst crypto grifters and threatened both investors and the stability of the financial system.
If the Trump administration gives a flood of Big Tech companies, fintech firms, and others their own industrial loan banks these operators will be free to prey upon people with unfair terms, junk fees, and sky-high interest rates.
When the Federal Reserve foolishly approved the Capital One takeover of Discover, it ignored the fact that Capital One had relentlessly closed bank branches after a series of mergers over the past decades.
This summer, federal bank regulators proposed a rule to massively weaken the key post-2008 financial crisis banking regulation designed to make the mega banks more resilient and reduce the risk of their failure.
The Trump administration has called for the recapitalization and return to private control of Fannie Mae and Freddie Mac, which provide critical support for the mortgage market.
The House Financial Services Committee is once again venturing into the artificial intelligence (AI) game and seems poised to let AI and Big Tech team up with Wall Street banks with almost no oversight.