February 9, 2017
Bernie Sanders, the left’s kindly grandfather and folk hero, took President Trump to task the other day for saying that he (Trump) intended to roll back the Dodd-Frank regulations. These regulations were put in place after the financial crisis of 2008, and were intended to prevent a similar crisis from recurring in the future.
“He is a good showman, I will give you that — he is a good TV guy,” Sanders said of Trump. “But I think he is going to sell out the middle class, the working class, of this country.”
Now, Sanders campaigned hard against Wall Street and big banks; he proposed all kinds of financial services taxes and fees to fund his socialist dream of free college, free ice cream and free ponies for everyone who wanted them. But he’s missing the point here. The repeal of Dodd-Frank isn’t a Trump thing; it’s a Republican thing. Anything that prevents big Wall Street banks from making obscene amounts of money is to be opposed at all costs.
Trump, in this instance, is only doing the bidding of the big bankers.