In a push to expand American’s freedom to buy things that are bad for them, the White House plans to scale back many of the regulations put in place after the financial crisis.
Gary Cohen, the new National Economic Council Director, said, “The Trump administration wants to give people a choice when buying financial products they don’t understand. Consumers will no longer be limited to the narrow band of products they actually need when being pressured by financial sales people; now they will have the opportunity to be talked into a multitude of irresponsible products.”
In response to the proposed deregulation, bank stocks have jumped nearly 50%. Manufacturing firms have also received a small boost as orders for barrels of roughly waist height have increased tenfold overnight.
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