Democrat Maxine Waters says days of wine and roses for Wall Street fat cats are over
Rep. Maxine Waters of California is ready to take the reins of one of the most powerful House committees and under her watch, she says, the Republican-enabled Wall Street romp is going to be over.
The Trump administration and congressional Republicans have been intent on gutting Dodd-Frank, the Obama-era Wall Street reform law. Waters, who is in position to head up the House Financial Services Committee, says not any more. “Make no mistake, come January, in this committee the days of this committee weakening regulations and putting our economy once again at risk of another financial crisis will come to an end,” Waters said.
“It is essential that the Fed keeps a watchful eye on the financial institutions it supervises and makes strong use of its existing enforcement tools to crank down on institutions that break the law. […] I must say that I am concerned about proposals the Fed has put forth this year to reduce capital and liquidity requirements for the largest financial institutions which would weaken strong safeguards established by Dodd-Frank to protect the U.S. economy from another costly financial crisis.”
She’s also considering how she might use her subpoena powers to delve into the unindicted co-conspirator’s connections to Deutsche Bank, and whether the Russian government was involved in guaranteeing the loans it made to him.
Sometimes elections have delicious consequences.