anti-regulation free-for-all

Amidst the Trump/Russia scandal, Republicans are gutting Dodd-Frank

And of course, misleading the American people while doing it:

The House on Thursday passed the Financial CHOICE Act, legislation to overhaul and replace the failed Dodd-Frank Act that has contributed to the worst economic recovery of the last 70 years.

“Every promise of Dodd-Frank has been broken,” said Financial Services Committee Chairman Jeb Hensarling (R-TX), as he read letters from Americans about how they were declined home, automobile and small business loans due to Dodd-Frank’s burdensome regulations. “Fortunately there is a better, smarter way. It’s called the Financial CHOICE Act. It stands for economic growth for all, but bank bailouts for none. We will end bank bailouts once and for all. We will replace bailouts with bankruptcy. We will replace economic stagnation with a growing, healthy economy,” he said.

Okay, first of all: The reason many of those folks are having trouble securing loans is because Dodd-Frank didn't go far enough. Banks are still allowed to do many of the things that brought about the Recession in the first place, like investing capital in money management schemes instead of point-of-use/point-of-sale businesses and product manufacturing and such. What the GOP is doing with this bill will put that on steroids, just like the early 2000's. And it will also expose you and I to major financial risks by sidelining the Consumer Finance Protection Bureau:

Those burdensome regulations

Among all their other train wreck policies, the NC GOP has made it a priority to "reduce these burdensome regulations", meaning they've spent a lot of time and effort gutting environmental and human safety regulations because sometimes those get in the way of a little bit of additional money in corporate fatcats' pockets.

It hasn't taken all that long for the results of their corporate allegiance to come home to roost. No one knows if the tragic deck collapse on Emerald Isle might have been prevented, but we do know that thanks to Neal Hunt and the NC GOP, Emerald Isle officials have no opportunity to perform routine deck inspections. Because freedom And profits.

At issue is a 2011 state law that says towns may make periodic inspections of residential properties only when there is “reasonable cause” to believe unsafe conditions exist. Emerald Isle Town Manager Frank Rush said that law prevents the town from inspecting beach houses unless there’s a complaint.

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