Trump Admin Readies Big Gift for Wall Street While Waging War, Gutting Aid Programs
Common Dreams • • business
Key Points:
- The Trump administration and Federal Reserve proposed rules to reduce capital requirements for the largest U.S. banks by nearly 5%, potentially increasing financial system risks amid global economic instability linked to the US-Israeli war on Iran.
- Advocacy groups like Better Markets criticized the proposals, warning they would lower capital standards to pre-2008 financial crisis levels and prioritize Wall Street interests over the needs of Main Street families.
- Fed Governor Michael Barr dissented against the new rules, expressing concern that reduced capital and liquidity requirements, combined with cuts to supervisory staff, would weaken the resilience and trust in the banking system.
- The deregulatory package, led by Trump appointee Michelle Bowman, faces a 90-day public comment period and has drawn criticism for
