FOR IMMEDIATE RELEASE
Friday, February 3, 2017
Contact: Nick Jacobs, 202-618-6430 or njacobs@bettermarkets.com
Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued this statement on the Trump Administration’s executive order to roll back financial protections established in the Dodd-Frank Act:
“Trump would not have been elected dogcatcher if he told the American voters he was going to be the best friend to Wall Street since President Herbert Hoover in the 1920s. The American people trusted candidate Trump when he said he was going to protect them from Wall Street’s recklessness, but President Trump has betrayed that trust. He is unleashing Wall Street on Main Street, which is exactly what the financial protections of Dodd Frank were put in place to prevent.
“No matter how many of Wall Street’s talking points President Trump parrots, it can’t be denied that the 2008 financial crash was caused by de-regulating Wall Street’s high risk gambling. That’s what enabled Wall Street to crash the financial system in 2008, which required trillions of dollars in taxpayer-funded bailouts and rescue programs. De-regulating Wall Street is as bad an idea today as it was in the years before the 2008 crash.
“Trump’s government of Wall Street, by Wall Street and for Wall Street is going to cause another devastating financial crash, ruin the lives of tens of millions of Americans and probably end in a second Great Depression.“
###
Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.
