The president of the united States, Donald Trump, yesterday signed two executive orders that lead to the start of the review of the call to reform Dodd-Frank, the cornerstone of the response of the u.s. government to the financial crisis of 2008. Among other things, the above-mentioned legislative package, enacted in 2010, establishes supervision more stringent controls and risk more severe for financial institutions, mandates annual testing of resistance to assess the vulnerability of the banks against a future crisis of markets and fixed protections extra to the customers of those companies.
Despite the fact that these reforms were insufficient and inconclusive at times of Obama –in large measure by the unwillingness of the centers of political and economic power to change the current economic model, its approval was significant as it introduced ” minimum elements of rationality in the financial system, whose greed led to the collapse largest since the Great Depression, between 2008 and 2009.
To what can be seen, the pressure of the bankers to eradicate this regulation is emphasized and strengthened with the start of the era Trump, to a great extent by the positions of privilege and decision making, which occupy a prominent former finance in the cabinet of the current president. However, the new wave antirregulacionista Trump is a button shows up where the big interests will determine the orientation of the current government, even against the general interest and economic rationality.
two weeks to the opening of his presidency, Trump has taken several of the flags more questionable to the society of his country and the international public opinion, and this has diminished its popularity within the united States –not to speak of the terrible image that has outside– to the degree that, according to various polls, it is located as the head of retail approval at the start of a management to the front of the White House.
In this case, however, becomes even more important that among the congressmen in the u.s. to deprive the prudence and that, upon the evidence of the disastrous results of uncontrolled speculative and the clear need to correct the deviations bank, safeguard as a minimum, the regulation adopted as a result of the crisis of 2008 and 2009.
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