Donald Trump remained relatively silent on financial regulation during his presidential campaign but past interviews reviewed by CNN's KFile show his support for deregulating the financial industry and reveal how a Trump administration may deal with Wall Street.
Thom Hartmann: Libertarians are pushing us over a cliff. We'll get sensible financial regulation, but not until conservative "predators" destroy the economy. This war – the Afghan and Iraqi wars, which I would argue are not so much a result of this economic crisis, they were more strategic and oil wars – those wars were basically volunteer wars. We have a pauper army, to an extent.
Romney's campaign said on Tuesday that JPMorgan Chase & Co's huge trading losses were an unfortunate part of a free market economy. Romney adviser Eric Fehrnstrom told NBC that, while Romney supports some financial regulation, the losses at one of the nation's largest banks involved investors, not taxpayers, and that rules for Wall Street should not hamper investments. So...Morgan wouldn't accept bailout money if it flatlined? Hmm?
Presidential candidates and politicians are touting Glass-Steagall regulation as a solution to the risks posed by big banks. Experts on financial regulation and economists share their thoughts on bringing it back.
It is no secret that our political system is corrupted by the influence of corporate money in elections. Pick any issue - financial regulation, energy policy, healthcare reform - and its problems can be traced back to unspoken quid quo pro agreements between politicians and their campaign backers.