Dodd-Frank Reform

Last week president Trump announced that he would be reforming the Dodd-Frank Act which was signed into law by President Obama. The law put heavy restrictions on financial institutions and Wall Street after the 2008 financial crisis. Trump critics see a reform of this law as a way for the president to allow the rich to get richer however in many ways it is actually a way to hold Wall Street more accountable. For example under Dodd-Frank gives a safety net to banks by allowing for government bailouts paid for by the taxpayers, however Trump would like to get rid of this. Donald Trump has always promised to be a very business friendly president and this is the beginning of following up on his promise. Regulation when it comes to business, specially the financial industry, can be very crippling. Some people believe that if there is no law to protect them business will run amuck but like Adam Smith said there is always the Invisible Hand guiding them.

http://www.latimes.com/business/la-fi-trump-bank-loans-20170226-story.html