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White House prepares order targeting banks for "unbanking" for political reasons
- duxup 1y agoAs usual this seems like it is "corruption! .... FOR me and my friends ..."
- torium 1y ago[flagged]
- hightrix 1y agoI'm curious, how often throughout history has a statement like "that guy is an idiot" had an unnamed person been so easily and widely recognized. We all know who you are talking about, just like everyone know what "guy" I'm talking about.
- Fishkins 1y agoI'd say a large part of the country had the same sentiment about George W Bush. I'm not sure whether that was true or just an act, though. In politics, I think the opposite of Hanlon's razor has often been applicable. It's easy to feign ignorance to avoid responsibility. That being said, I believe there has been an increase in genuinely dumb people in American politics in the past ~15 years.
- kjellsbells 1y agoI always felt there were dim/smart, benign/malicious axes in politics. Nixon for example: malicious but very very smart (eg wrt China). Reagan: not a razor, but fundamentally good-willed (see for example his interactions with Tip O'Neill from the other party) Dim and malicious is of course the worst of all. Not least because such people will attract the smart and malicious like flies.
- nradov 1y agoGeorge W. Bush scored well above average on standardized tests. People who worked with him and have no reason to lie report that he was deeply engaged on policy issues and had a good command of the facts. And yet despite all that he still managed to make some truly terrible decisions that still negatively impact the country today. It was really the mainstream media who falsely labeled him as an idiot. The "chattering class" who make their living by speaking and writing tend to denigrate others who aren't particularly good at those things, regardless of their other abilities or achievements.
- shadowgovt 1y agoHistory suggests that a divided America tends to elect less effective leadership. The goal of the electorate becomes less about electing someone who will support your causes and more about electing someone who won't screw you over. We saw this in the so-called "bumbling generation" that led up to the Civil War, and when a President widely regarded as more charismatic and competent President was elected, several states panicked and seceded.
- dzonga 1y agoworse more is the manipulation by actors with malevolent interests such as a16z, crypto guys - bad hombres in general who have the idiots ear. it's another case of 'white genocide' in south africa.
- evilDagmar 1y ago[flagged]
- mindslight 1y ago[flagged]
- sybercecurity 1y agoThis feels like another case where there should be legislation, but would never get done. It would also require admitting that auditing requirements are so burdensome that they are used to arbitrarily enforce policies, which no one wants to do.
- scottLobster 1y agoHonestly, the root of most of our current problems can be traced to Congress not being able to effectively pass legislation and ceding ever more power to the Executive and Judiciary as workarounds.
- kilroy123 1y agoStrongly agree. I also think this has been going on for the last 20 years. The root issue has always been Congress.
- deleted 1y ago[deleted]
- bamboozled 1y agoOn it goes…
- ChrisArchitect 1y ago[dupe] Earlier: White House Preps Order to Punish Banks That Discriminate Against Conservatives https://news.ycombinator.com/item?id=44793168 https://news.ycombinator.com/item?id=44793168
- lazyeye 1y agoThis was actually a significant problem during the Biden administration. The rules were so vague that de-banking could be used in whatever context the administration found convenient. Apparently many companies were pushed offshore as a result. Andreessen/Horowitz talk about it here https://m.youtube.com/watch?v=n_sNclEgQZQ https://m.youtube.com/watch?v=n_sNclEgQZQ
- JumpCrisscross 1y ago> rules were so vague that de-banking could be used in whatever context the administration found convenient But the courts were a check. The precedent the current administration has set is for summary debarking in the future in exchange for e.g. not being investigated for securities fraud.
- deleted 1y ago[deleted]
- lazyeye 1y agoIf you watched the video you would know that the anecdotal evidence was precisely the opposite.
- shadowgovt 1y ago[flagged]
- lazyeye 1y ago[flagged]
- shadowgovt 1y agoOf everything he's done with EOs, this might actually be the most legal one. the President has authority to allocate enforcement resources. "We are going to make sure the law was followed" is that authority. He can dress it up with all the flowery "no political debanking" rhetoric he wants, but if there's no actual law against refusing to hold accounts for the KKK, there's nothing for enforcement to do, and that's that. (Apart from that, increased scrutiny could of course uncover other kinds of lawbreaking. When we're talking banks? Not against that.)
- asdffdasy 1y agoexcept you feel for the misdirection. unbanking is a very widespread issue that affect actual minorities all over the country. this text ignores that, then play the victim saying unbanking is affecting rich white people who want to obviously avoid taxes and launder money via illegal tokens, but are being denied because they are trump supporters. that's most definitely not unbanking, that's the system working as intended and the "because" part is obviously false. but now everything is upsidedown. this is not about the kkk having bank accounts (they already do!). this will be another technicalities to be abused on the coming cryptocurrency fleece to end all cryptocurrency fleeces.
- shadowgovt 1y agoEntirely possible, but since Chevron has been overturned, courts are no longer obligated to defer to Executive interpretation of the law, and as much as people think SCOTUS is in Trump's pocket... They're not particularly anti-bank and it's a bit of a toss-up whether they'd rule for or against a bank that dragged a case of "The Feds say we can't do this and we're pretty sure Congress didn't say that" all the way to them (and banks have a lot of money to do that dragging).
- mandeepj 1y ago> "They did discriminate," Trump said of actions taken by JPMorgan after his first term in office. Well, don’t call Insurrection then!!
- darkhorn 1y agoHe is preparing the USA for a dictartorship.
- seivan 1y ago[dead]
- rayiner 1y agoBoth this and the other Trump EO that came out today (requiring colleges to report detailed race data to ensure they’re complying with SFFA) are good ideas and democrats should steal them. Don’t let Trump bait you into supporting Wall Street debanking people for their political views. That’s a total loser issue.
- jmye 1y agoWhy should banks be required to do business with you (for non-protected class reasons)? Why should Democrats want to make sure that colleges can ignore non-white and non-Asian applicants, regardless of potential ability? Why would Dems support any of this clear and obvious bullshit, that is solely being pushed to distract from other… issues the administration is having?
- rayiner 1y ago> Why should banks be required to do business with you (for non-protected class reasons)? Because most people aren’t libertarians and hate Wall Street. It’s a layup. And there’s nothing magic about “protected class reasons.” With respect to private entities, it’s just Congress’s Commerce Clause power. Congress can expand the categories to include whatever it wants. > Why should Democrats want to make sure that colleges can ignore non-white and non-Asian applicants Democrats should want to enforce SFFA, which bans racial preferences, whether those policies favor whites, asians, or anyone else. Not only because it’s the law of the land, and necessary to maintain a functioning multi-ethnic society, but because it’s popular: https://thehill.com/homenews/education/4411246-majority-support-ban-race-college-admissions-poll/ https://thehill.com/homenews/education/4411246-majority-supp... Using racial preferences to create a unified “people of color” political identity loyal to Democrats has failed and it’s time to declare it dead: https://www.latimes.com/delos/story/2025-07-02/pew-research-latino-vote-trump-2024-election-mike-madrid-paola-ramos https://www.latimes.com/delos/story/2025-07-02/pew-research-...
- assword 1y ago[flagged]
- lazyeye 1y agoHoly shit you have not faintest clue what you are talking about.