The Donald Trump presidency is nearing the 100-day mark and he has already signed over 65 executive actions, with many focused on regulation.
And last Friday he was at it again.
This time, President Trump again turned his attention toward financial reform by signing two presidential memos ordering six-month reviews of the 2010 law that gives authority for regulators to designate large firms as a risk to the financial system. It would also give them the authority to shut those firms down with minimal collateral damage if they’re on the verge of failing.
Indeed, these actions are in-line with his campaign promise, in which he vowed to replace the Dodd-Frank financial reform law. The way I see it, these two new actions are taking direct aim.
And these follow another financial regulatory memorandum already signed by President Trump, instructing the Labor Department to delay implementing an Obama rule requiring financial professionals who are giving advice on retirement — and who charge commissions — to put their client’s interests first.
But President Trump hasn’t stopped at just financial regulatory reform. He has also signed executive actions on:
- Initiating a review of the Clean Power Plan, which restricted greenhouse gas emissions at coal-fired power plants.
- Requiring every agency to establish a Regulatory Reform Task Force to evaluate regulations and recommend rules for repeal or modification.
- Instructing agencies that whenever they introduce a regulation, they must first abolish two others.
- Reviving the Keystone XL pipeline and Dakota Access pipelines.
He also signed three other related orders that would expedite the environmental permitting process for infrastructure projects related to the pipelines; direct the Commerce Department to streamline the manufacturing permitting process; and give the Commerce Department 180 days to maximize the use of U.S. steel in the pipeline.
President Trump sure has made a lot of noise with his pen, but questions remain …
Will any of these actions on regulation actually be implemented?
Sure, reviewing existing regulations is a worthwhile exercise and this new administration deserves props for raising awareness of the burdens that years of accumulating regulations can have on our economy.
But the proof is in the pudding: If these regulatory actions get implemented, will they work?
In other words, will Trump’s policies on regulation be able to help fix the sluggish U.S. economy?
I want to hear from you! In the comment section below, please give me your views on how you think Trump is doing with regulations.
Good investing,
Mike Burnick
DANIEL JOHNSON May 1, 2017
THE DODD-FRANK LAW WAS DESOGNED TO RESTORE THE REGULATIONS PUT IN PLACE BY THE GLASS-STEAGAL LAW WHICH WAS NUETERED BY PRES CLINTON LEADING EVENTUALY TO THE OUT OF CONTROL BANKING SPECULATIONS FOLLOWED BY THE GREAT RECESSION. IT APEEARS WE ARE AGAIN HEADING INTO A REPEAT OF THE BUBBLE ECONOMY AND AN EVENTUAL COLLAPSE .
Dick April 30, 2017
What bold tax plans ? One page ? He’s as cheep and cheesy as his bragging ,while he only tweets an signs Executive orders of which have done nothing .His first 100 days have been a dangerous joke . He comes out clapping like a reality show as does N Koreas president. They are a lot alike all bluster and BS .
WillO April 29, 2017
Trump is a salesman-con artist and has no idea how to run the country, he admits its complexity has surprised him. His lack of knowledge (aka ignorance) is very worrisome. I keep hoping he will wise-up, but he keeps playing the same old game. His latest salvo…a one page tax memo…. gives billions to the rich and ultra rich and nothing for the rest of us. The recent and ongoing years of low interest rates inflated the stock market, helped banks, and insurance companies, but did little for Joe six-pack. Credit card interest rate are abusive and so are the rates on college loans. Meanwhile big pharma floods the TV with prescription drug ads almost nobody needs but the 5% with serious medical problems. Trump’s tax plan is upside down. The way to decrease the deficit is to inflate it away (slowly), this means the bottom 75% of the people need more money to spends, not less. The rich save most of their income. Will he try the “Wag the dog ploy ‘ with the DPRK? No longer a Republican.
W April 29, 2017
Everything in Trump’s mind seems to be a zero-sum game. I win – you lose. You win – I lose. The real world is different and that’s why he won’t succeed.
JPowell April 27, 2017
The Republican party will combine with a few Democrat members to finally help Trump complete his four important promises.
Clarence Stern April 27, 2017
Trump’s ideas and executive orders are based on his vast business and negotiation experience. Careful examination should reveal which will be beneficial, without negative unexpected consequences.
Those that indicate positive benefits,with beneficial modifications, hopefully will be put into action.
Unacceptable orders will certainly be trashed.
Most of us want what appear best for our country, and not for any political party or individual.
Bill Kaufman April 26, 2017
Trump was giving a speech to a large blue collar audience during the campaign,ut and he During one of his campaign rallies, Trump said that he was going to help “all you working men by getting rid of the “death” tax””. Whereby he got howls of approval. Of course the audience didn’t know that the estate tax had no application to them. They were being deceived.
With Trump, the devil will always be in the details.. You can bet that the tax changes he wants will get rid of the minimum alternative tax too (the chief reason he paid any taxes recently). There will be many distortions created by some of the changes Trump wishes to impose, for example, a rush for regular employees to set themselves up as contract workers or as independent contractors under their own LLC’s.
Trump is a fraud. Please see our blog: http://www.trumpuniverse.net for proof.
Eagle495 April 27, 2017
Bill, You nailed it!
elinor April 26, 2017
he is great !!!
Frederica Dreyer April 25, 2017
I’m curious if you believe financial etf’s will be affected by the pension crisis ahead.
FD
Eagle495 April 25, 2017
No….. He will only make the rich richer and further devistate the Middle Class, as has happened under every Republican Administration since the “Republican Revolution” of the 1980’s….. He is more likely to bring on another Republican Stock Market Crash and Depression…… That would be the third Republican Stock Market Crash in the past 100 years!…. The undereducated are getting conned…… 🙁
Ron April 25, 2017
a problem can only be addressed if it is brought into the light , making the new ideas to solve the bad ideas that are not working and sort out new ways to make corrections . the president will make something happen and it will take less time to see if he is on the right path because it will be attacked every step , if its not working we will know quickly or the nay sayers will ignore the effects.
Jim Barclay April 24, 2017
even if Trump doesn’t succeed in reducing government red tape and instituting reform he will at least put the people that are wasting the peoples money and time on notice that he is serious about reducing government waste
Frank April 24, 2017
Yup, it’s just noise. This guy is on a repeal and destroy mission; that’s all he and his goons know how to do. Forget about any meaningful legislation about the economy, resources, the environment or anything else until he is impeached and removed from office. Don’t expect anything from robot Pence, either…just more of the the same old crap.
Ron April 25, 2017
Hi Frank,
You seem to be a devoted follower of the Dem agenda.. but you seem to forget that the main reason for the so-called good times of the 90s was a result of the policies of Reagan.. and the Computer Bubble which
was driving a Digital Revolution…
When Business is over-regulated, they seek other places to do business..
The people are told by the Lap Dog media that the Republicans want Dirty Water and dirty air for their children to breathe… but the Democrats who say they want to clean it all up are the first to hop on a private jet and attend some
Climate Conference.. It would appear that it was people like Al Gore and Leonard De Caprio who
have the biggest Carbon Footprint, while preaching that they were trying to save the World.
Why did they not simply use Teleconferencing to prove it?
Why would the media blame the republicans for the crash of 2009, when it was the creation of Fannie Mae and the bundling of Bad Sub-Prime Loans made to everyone who asked for one was the cause of the bursting bubble.. when interest rates began to climb during the last two years of George Bush Jr…
By the way, it was 2006 and 2007 that the House and Senate were already Democrat and Bush was no more than
a criticized Lame Duck who was unable to stop anything, without being accused of being obstructionist.
It was Clinton (who removed the protections of the Glass Steagal Act that protected Saving’s Banks from the risks
of a crazy Investment bubble) as he left office.. It was like setting the Self Destruct sequence on the USS Enterprise as he teleported from the Bridge to join the Ferengi……. to count his “Gold-Pressed Latnum”
It may not be too late for you to fill in the blanks, but you have to remember that it is the Democrats
who were the Southern Slave Owners, who also wore the White Sheets and created Jim Crowe ..
I guess you forgot that… and believed it was Southern Republicans who did all that.
There are many who want to see the US Fail…. and they almost succeeded… What we are watching now are the
lies of the last few decades being exposed as the Government/Media complex is scrambling to hold on to power,
while a real patriot rides through town, to drain the Swamp.
Eagle495 April 26, 2017
Fake news….. Fhe rally was caused by Fed chairman Paul Volcker, who brought Inflation and High Interest rates under control…. Reagan wanted to fire him, but could not, Then when it worked and brought the rally of 1982-1999, Reagan went silent…..
Reagan then appointed Greenspan who thought it was fine to remove Glass-Steagall (which was brought by the Democrates in 1933 to stop the financial abuses which cased the Republican (Hoover) Crash of 1929) in 1999 by the Republican Majority Congress which brought on the Republcian Crash (Cheney/bush) of 2007-2009 (which was saved by Obama, a Democrat, just like Democrat FDR did in 1932)….
Ron April 28, 2017
Hi Eagle495,
The Glass Steagall act was rescinded by Clinton in his last few months of 1999..
https://www.nytimes.com/2017/04/06/business/dealbook/donald-trump-elizabeth-warren-big-banks.html?rref=collection%2Ftimestopic%2FGlass-Steagall%20Act%20(1933)&action=click&contentCollection=timestopics®ion=stream&module=stream_unit&version=latest&contentPlacement=2&pgtype=collection&_r=0
hawk5000 April 25, 2017
who was THE president to be impeached while in office cmon guesss…………………………..BILL CLINTON
Eagle495 April 26, 2017
Fake News: NOT Impeached!
Percy Allan , Australia April 24, 2017
I think Trump is all bluster and no substance. When the market eventually crashes his magic show will be over and America will be forced to address its structural problems of excess debt, low investment, infrastructure decay and income inequality.
Jeff April 24, 2017
Other than the Dems , who cannot allow TRUMP to succeed, his biggest threat to progress are the establishment Reps lead by Paul Ryan. Just look at the Obamacare replacement fiasco. How do you sit there all those years griping about Obamacare and then come up with a piece of garbage like Ryan did and then say you have the votes. Ryan can’t be that stupid. They will NEVER get Dem votes, therefore, put together A bill (forget this 3 phase nonsense) to repeal and replace and pass it with 51 votes. DONE. Let the squealing begin. Get the spine to do what needs to be done to move forward…..unless you’re Paul Ryan leading the Never Trump crowd and you don’t want Trump to succeed either. Oh yeah, then blame it on the Freedom Caucus…they’re the ones that want to do what they all SAID they would do, some for most of 8 years. Then, if you’re Ryan, you did such a good job, then you go on vacation and get the taxpayers to foot the bill by visiting NATO. What a load of BS.
Ethan Walker April 24, 2017
There is an ideological zealotry that many subscribe to that says all regulation is bad. This might be true if it weren’t for greed and lust for power. If these two human conditions did not exist then we might be able to do away with most regulations. Next these zealots will want to abolish traffic signs, traffic lights and speed limits. After that we can do away with the entire criminal code such as prohibitions on murder, rape and theft. All regulations must go!
Barbara Kelly April 24, 2017
Yes Trump can do if the damn dems stop attaching an damn anchor on to Trump. They have from the start being in a neg attitude and not working with Trump on getting this down. They have pissed me off to no end. I wouldn’t mind one bet if they all drowned in their own septic mess and never be able to surface again. They are finished in my book. Their underhanded degrading crimes to bring down or stop Trump is a black mark on them all. I see them as sewage that needs to be flushed down the toilet. They only think of themselves and their crappy party. They don’t work for their people at all. All they want is revenge on anyone that didn’t vote for them or their party or hillary, the criminal.!!!!!!!! They want to destroy anything or anyone who doesn’t think like them. It is so out there in your face you can’t miss it. just like this budget coming up —they want to blame the gop. WHEN you think about it –it is the spending that was done in the last 8 ugly yrs of OBAMA THE TRAITOR. Think that one over people and you decide. and then call your congressmen to help. Because why, — The money is going to come out of your rear and your earnings again.!!!!!
Ron April 25, 2017
Well Said, Barbara.
squeaky gate April 24, 2017
Historically wee donald doesn’t have an enviable track record..circa The Golf Course bullying in NE Scotland and his show ponying on TV s The Apprentice’, I just cannot believe the families running the world couldn’t have put up a more suitable puppeteer to further their avaricious appetites for control…perhaps the Brexit, donald and French election could be the signal of Party Type politics ruling the hen house are on the way out , hopefully not with a big bang!
Richard Lee Braun April 24, 2017
Politics is reserved for politicians.Trump has declared he is not and will not become a politician,nor bow down to
any lobbyists.He says he has no special interests.I want to believe this wealthy ,often zealous individual
Trump has been loved,admired and hated by many New Yorkers for several decades.
He is unique.But what does that really mean?It means I listen when he speaks,though I do hold reserve thoughts.
All my life I have been listening to someone else attempt to sell me their ideas and/or products.Being born in
this country and living here all of my 72 years,life experiences have changed and reversed my views on many
subjects .Avarice and power of the elitists have brought us to where we are and the common man is always responsible for carrying out what the central bankers would have us believe.Over the last 2 decades,the public has began to realize more and more ,the general media faces much of the same as do politicians,Big business
reaches every corner.Can Trump bring back a stronger country that is currently headed from #1 to # 3? His
popularity grows everyday.A friend suggested to me that trump is not Trump anymore.His suggestions were more than just a little off-beat.As I told so many others many months ago,Trump would learn Washington and what a
surviving/successful politician must do,through personal top advisories.Yes,I have to believe,as the positive thinking individual that I am,Trump will bring us to a better future.Had Trump come along 25 years ago ,we would have had a shorter climb.But climbing out of this pit,as deep as we are,I believe with all my spirit,is headed in the
right direction/PERIOD and EXCLAMATION-respectfully-_RL Braun.
Golden1 April 26, 2017
Wow, RLB, a man who understands what is going on and is man enough to stick up for a new president and for what he stands for; the American people. Think about it! If all Americans would get behind the President and his agenda to protect American citizens by keeping us safe from foreign and domestic terrorists and hardened criminals, help honest hard working tax paying immigrants become American citizens, decrease over taxation, eliminate unfair trade, support the poor through education and training rather than welfare, reduce government control by over regulation, buy America/hire America, keep American jobs here, replace our failed health and education programs and bring God back into more Americans lives if they choose, the rest of the world would have no choice but to follow our example as a country. So, I say well said in you commentary RLB. Thank You.
jf April 24, 2017
If Trump can not get it done, then we might as well throw in the towel. The Obama’s, Clinton’s and Democrats are doing their best to regulate us back into the stone age, and destroy the very principles my forefathers fought for in forming this great Republic. The democrats, so called entertainers, and media seem hell bent on turning this country into another Venezuela, Cuba, or some other third world dictator run country.
Geo April 24, 2017
The real questions are: How much damage will these environmental rapists do? How many new cancers and other disease will they cause? How much of America’s wilderness heritage will they steal from our children and sell off to the highest bidder? What new ponzi schemes will the financial con artists be able to get away with? How many more seniors will lose their life savings and homes to these crooks? How many more trillions of tax payer dollars will be required to bail out these corporate criminals when the latest house of cards inevitably comes crashing down?
Larry White April 24, 2017
Mike,
I like what Trump is doing but I do not think he can succeed for several reasons:
The headwind our $20T national debt and liabilities for Medicare and Social Security.
The continuation of our debt based economy and fiat currencies worldwide
Growth with remain tepid for the foreseeable future do our declining Energy Return on Investment.
Our civil war-the deep state, media, democrates, and fractions of the republican party do not want Trump to succeed.
Geopolitical tensions are likely to lead to a war in North Korea, Iran or even China ( South Sea Islands)
Charles Goldman April 24, 2017
I keep hoping he will listen to his most intelligent advisers and cool down his tweets. I hope he can face the reality of climate change and stop pretending Science is faked. Our country was built on our post war lead in Science and now he wants to cut out funding for Science and spend many times the annual cost on a wall. For some reason it reminds me of the one the Russians built in Germany. Building it will promote tunneling under it and then one day we will tear it down on the unsound thinking that built it. Makes no sense in an age when electronics could do the job and it represents a wild use of limited resources better spent on roads, bridges and water works for our decaying infrastructure. Please Mr. Trump avoid another war and announce after “considerable thought” that you have decided that the money for the wall can be much better spent to mend our country’s social and financial woes.
Kim Andersen April 30, 2017
Have Faith Mike, We are In a Mess..!!! But, you have to Start Somewhere Right ?….. And, This is the Man to DO IT…!!!
wayne frederick April 24, 2017
Trump needs to make good on everything that he said he would do. I would like to see more action and less golf.
Jeff April 24, 2017
Are you serious? Trump has done more than all the republicans in Congress put together. And, you’re worried about him playing golf on a weekend. Get real dude. Get after your do nothing representatives and senators.
Larry April 24, 2017
“Saving the coal industry” by removing regulations has a lot of potential negatives. If we increase the amount of green houses will accelerate climate change. This will lead to greater extremities in weather and natural disasters hurt the economy, probably a lot more than the short run gains to the coal industry. Removing environmental regulations also sets us up for significant public health crises which cost a lot of money.
We need to be wise, considering all likely effects –on the whole economy — and not focussed solely on possible short term gains by one sector
Jeff April 24, 2017
We have the cleanest air and water in the world…even with our coal all these years. You need to worry about China and India and what they’re NOT doing. Forget about climate change….that’s a Dem invention to make money. Google the Chicago Climate Exchange and see what all the usual Dem suspects plus Goldman Sachs had in the works, assuming Obama would get his ludicrous Cap and Trade legislation passed. He couldn’t so he tried to do it thru exec orders. The earth has had temp swings and trends up and down before…and long before fossil fuels were in use. It’s nonsense and a false narrative to say you either regulate carbon dioxide or you kill the earth. Just look back to the 70s when they called it global cooling…oopps, then it was global warming……ooopps…..now it’s climate change. Hell yes, the climate changes.
hawk5000 April 24, 2017
WER’NT PROGRESSIVE liberal socialists democrats whining that because of pollution we were going into a new ice age oh that didnt work out lets call it global warming ….. oh noooo that doesnt work out either ……..lets call it climate change and have the hollywood elite be our spokes-people somebodys got to believe us in california
Kim Andersen April 30, 2017
Over Priced GOOD ACTORS is about RIGHT Hawk….. !!!…. There a Joke !!
Michael Bates April 24, 2017
We see a constant barrage of criticism, ridicule, and resistance against pres. Trump from a well orchestrated liberal left. The “left” includes state and federal politicians, liberal media, academia, and established bureaucracies in every sector. I do not think Trump has the “horsepower,” to really get much done in the face of such opposition. The will overpower and out-smart him at every meaningful turn.
flyfinner April 27, 2017
Let’s hope so. The ignorant raving con man has to be stopped.
Jan Passmore April 24, 2017
………………….its about time we had a President that is looking out for BUSINESS and not just increasing “entitlements” !!!
William C Fields April 24, 2017
Yes I believe Trump will make America great again
Bob Miri April 24, 2017
Biggest con man ever!
hawk5000 April 24, 2017
YEA i gotta agree with you bob the biggest con man ever was barack obama and susan rice and hillery clinton
Eagle495 April 25, 2017
What’s your education level, hawk?
Ray April 30, 2017
Better than your’s
Tom Bacon April 24, 2017
I think the Obamacare problem could be solved by allowing all veterans to use whatever private medical facilities they wish, and then turn the huge VA Hospital System over to Medicaid and Welfare. In this way we could solve both problems with one executive action and much lower cost than any alternative so far proposed.
jf April 24, 2017
Well said Tom, but your solution is too practical to ever be accepted by main stream politicians. I am a veteran, and I have never understood why there are separate medical facilities just for veterans. jf