Title sums it up mostly. Mr. Hensarling is two days away from bringing the Financial Choice Act 2.0 (Details of Dodd-Frank’s replacement can be found here) to The House Financial Services Committee for discussion.
From The WSJ:
“Republicans are eager to work with the president to end and replace the Dodd-Frank mistake with the Financial Choice Act,” Mr. Hensarling said Wednesday. “It holds Wall Street and Washington accountable, ends taxpayer-funded bank bailouts, and unleashes America’s economic potential.”
And from the other side of the aisle, quoting Ms. Maxine Waters of CA:
“Simply put, the Wrong Choice Act bows down shamefully to Wall Street’s worst impulses, and would lead us back down the road to economic catastrophe,” she said earlier this month. The new version “cannot be allowed to become law. There is too much at stake for consumers and for our economy at large.”
If passed, do you think that this will lessen the blow of the next recession? Or will it make it more extreme than shaking the dead wood from the economy? Love to hear any thoughts.
