Banks rack up big wins in Trump’s Washington

The following article by Sylvan Lane was posted on the Hill website January 11, 2018:

© Hill Photo illustration/Garrett Evans

Banks are ascendant in Washington, scoring major wins and enjoying the support of a friendly White House a decade after the financial crisis.

The banks are reeling in record profits, thanks to the growing economy and the booming stock market, the just-passed Republican tax-overhaul bill has slashed their tax rate and to top it all off, a bipartisan Senate coalition is fighting to loosen the post-crisis rules meant to curb risky behavior in the financial industry.

Critics of the banking sector say the shift is the result of Wall Street seizing control of the government; they compare President Trump’s appointments to a Wall Street occupation of the federal government. Continue reading “Banks rack up big wins in Trump’s Washington”