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You don’t have to guess that Dodd Frank was weakened by lobbyists it was a mainstream media story all weekend. https://www.bloomberg.com/news/articles/2023-03-

• Woodi 4y ago
  > You don’t have to guess that Dodd Frank was weakened by lobbyists I keep reading: "by lobbyists", "by Trump"... But googling less then 5 seconds shows "Congress cut burdens for smaller and mid-sized banks in 2018". So blame Google ? Or congresspeoples being more stupid then suicidal lobbyists ? I thinked elected officials should be kind of smart filter not a bucket for throwing money...
  • kasey_junk 4y ago
    https://www.senate.gov/legislative/LIS/roll_call_votes/vote1152/vote_115_2_00054.htm https://www.senate.gov/legislative/LIS/roll_call_votes/vote1... Mike Crapo Republican of ID was the sponsor in the senate. House roll call: https://clerk.house.gov/Votes/2018216 https://clerk.house.gov/Votes/2018216 Here is Trumps tweet on the subject. https://twitter.com/realDonaldTrump/status/999258232110579714 https://twitter.com/realDonaldTrump/status/99925823211057971... For context, this rollback is actually a compromise. Jeb Hensarling of Texas lead a contingent that wanted to roll back Dodd-Frank entirely but it didn’t have the votes in the Senate because it was split more evenly between parties. Dodd-Frank has been unpopular with conservatives since it passed. So what the lobbyists did was convince small town democrats to cross parties and vote for the bill saying it would strengthen small banks. And maybe it did! We haven’t seen a small bank failure since it passed and a few typically fail every year. But it also let bigger regional banks off the hook.