The ECB’s Mario Draghi is factual to warn against relaxing rules such as Dodd-Frank aimed at preventing another financial crisis“The last thing we want at this point in time is a relaxation of regulation,” said Mario Draghi, president of the European Central Bank on Monday. He is factual to worry. Relaxation of financial regulation is precisely what Donald Trump has in intellect and the effects could be felt around the world.
The US president seems to have accepted the half-baked belief that US banks are somehow so tied down by international regulations that they are obliged to hoard capital that could be used for lending to the American economy. “I have so many people, or friends of mine,who have nice businesses who can’t borrow money,” said Trump when he signed an executive order last week. Related: British firms suffer Brexit impact, and as ECB's Draghi warns on US protectionism – as it happened Continue reading...
Source: theguardian.com