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[alr1ght]

https://www.washingtonpost.com/news...ap-wall-street-lawyer-jay-clayton-to-head-sec

NEW YORK -- President-elect Donald Trump announced on Wednesday that he will nominate Wall Street lawyer, Jay Clayton, to head the Securities and Exchange Commission.

As chair of the SEC, which polices Wall Street and the financial markets, Clayton would play a key role in Trump's efforts to usher in a period of deregulation, including undoing parts of 2010's financial reform legislation, known as the Dodd-Frank Act.

If confirmed by the Senate, Clayton would replace Mary Jo White, who announced shortly after the election that she would step down.

White, a former federal prosecutor, is known for a no-nonsense style and beefed up the agency's enforcement efforts over the last three years, pushing for more companies to admit guilt and taking more cases to trial. And during her term, the SEC has been a central player part of the Obama administration's effort to rein in big banks following the 2008 financial crisis and prevent future taxpayer bailouts of the industry. The agency has pushed for more oversight of hedge funds and other asset managers and has established rules that make it more difficult for big banks to make risky bets on the markets.

But Trump is widely expected to roll back some of the banking industry regulations the Obama administration put in place.

”We need to undo many regulations which have stifled investment in American businesses, and restore oversight of the financial industry in a way that does not harm American workers," Trump said.

 

[LiK]

The Swamp is overflowing!

 

[Izuna]

#buildtheswamp?

 

[Angelus Errare]

America was due for another depression anyway.

 

[MGrant]

Why the fuck not. I also anticipate MC Hammer's appointment to the Office of Touching This.

 

[HStallion]

Why the fuck not. I also anticipate MC Hammer's appointment to the Office of Touching This.

Vanilla Ice already got selected for Secretary of Ice.

 

[Electric Eye]

Vanilla Ice already got selected for Secretary of Ice.

What about Ice-T?

 

[Lord Frieza]

I think it's becoming more and more obvious with each pick that Trump, or those around him, are pushing for people to pretty much destroy the entire system. They want to sink the country and rebuild it after the pieces have all fallen. And it really just feels like nothing or no one is really in their way, either.

 

[efyu_lemonardo]

Nothing bad will come out of this.

 

[Usobuko]

Going to ride this wave before it crashes.

 

[rjinaz]

I'm so tired of these people pretending they care about American workers. You getting me a job that pays $10 an hour while taking away my benefits and with me not even making enough to afford the very product I am helping to make while the people at the top make so much money they could never spend it in a life time, does not mean you care.

 

[Like the hat?]

So glad we didn't get Clinton, what with being in wall streets pocket

 

[HStallion]

What about Ice-T?

Trump saw him in Law and Order and is going to have him head the task force overseeing the countries police officers.

 

[PBY]

I think this is a fine pick, actually.

 

[Ziltoidia 9]

They never EVER tell you what regulations they want to get rid of.

Never.

I've heard the same thing since forever. REGULATIONS ARE KILLING JOBS, etc.

They dont even tell you which ones. Just generic bullshit.

 

[Slayven]

Glad we have a president that isn't in Wallstreet's pocket

 

[jelly]

So, a little boom, Trump leaves office as things go to shit, normal people and the dems pick up the pieces, blocked at most turns after turning it around, republicans back in to tear it all down again.

I do wonder if people could take another crisis, think they would honestly lose their shit and let the whole thing burn down and jail the bastards, latter not as likely.

 

[MGrant]

I think it's becoming more and more obvious with each pick that Trump, or those around him, are pushing for people to pretty much destroy the entire system. They want to sink the country and rebuild it after the pieces have all fallen. And it really just feels like nothing or no one is really in their way, either.

Rebuild it? That sounds like work. Fuck it. Put my money in the Caymans and get me on the next boat to a country only rich people know about.

 

[Dubbedinenglish]

What about Ice-T?

Inner city security general

 

[jon bones]

Anyone holding cash needs to go long in financials, oil, tech and blue chips.

inflation is going to murder and equities are about to go boom (and then probably bust)

I think it's becoming more and more obvious with each pick that Trump, or those around him, are pushing for people to pretty much destroy the entire system. They want to sink the country and rebuild it after the pieces have all fallen. And it really just feels like nothing or no one is really in their way, either.

don't be silly. they just want more money, end of thought

 

[Heshinsi]

Let me get this straight. You guys are going from a former federal prosecutor, who has gone after law breaking Wall Street companies harder than anyone has in decades, to a Wall Street lawyer whose job it is to defend said Wall Street firms? This is the change of guards your new president feels is appropriate for the SEC? Ahh...what?!

 

[Lord Frieza]

Rebuild it? That sounds like work. Fuck it. Put my money in the Caymans and get me on the next boat to a country only rich people know about.

The GOP and people like Steve Bannon will put in the work to rebuild the systems of this country in their image.

 

[liquidtmd]

Build a second, third and fourth Swamp!

 

[Angelus Errare]

So glad we didn't get Clinton, what with being in wall streets pocket

And those secret emails she served to Ben G. Hazi about the Gold Sachs.

 

[Darryl M R]

Hopefully by the time I go to grad school and come out we will be experiencing the predicted bump the nation will get from deregulating banks. And then it will crash.

 

[Wilsongt]

Let me get this straight. You guys are going from a former federal prosecutor, who has gone after law breaking Wall Street companies harder than anyone has in decades, to a Wall Street lawyer whose job it is to defend said Wall Street firms? This is the change of guards your new president feels is appropriate for the SEC? Ahh...what?!

But her wall street speeches.

 

[Steejee]

They never EVER tell you what regulations they want to get rid of.

Never.

I've heard the same thing since forever. REGULATIONS ARE KILLING JOBS, etc.

They dont even tell you which ones. Just generic bullshit.

Well, the answer is just 'All of them'.

Except for the ones that bail out the banks after they fuck everything up, those are good.

 

[radios shipping overview]

Hope you're happy, Bernie or Busters. 👍🏻

 

[Sidewinder]

America was due for another depression anyway.

Trump makes the best depressions, the best!! Short term the economy will rise and everybody will applaude, but the crash will be fucking monumental.

 

[zethren]

Hope you're happy, Bernie or Busters. 👍🏻

And also the protest non-voters.

And also the trump voters

And also all of the idiots.

 

[Bruce Springsteen]

Moving beyond the predictable jokes used in every thread, he said from the start of his campaign he was bringing in non politicians to fill in roles, he's doing just that

 

[Slayven]

Anyone holding cash needs to go long in financials, oil, tech and blue chips.

inflation is going to murder and equities are about to go boom (and then probably bust)



don't be silly. they just want more money, end of thought

What if you are poor?

Moving beyond the predictable jokes used in every thread, he said from the start of his campaign he was bringing in non politicians to fill in roles, he's doing just that

Instead of chickens in the coop, he is bringing foxes and coyotes

 

[GuyKazama]

Seems like a good pick. Trump promised a pro-business environment.

 

[Xe4]

I used to say this is going to be the most corrupt admin since Harding.
I lied.
This is going to be the most corrupt administration ever.
If they last 8 years without a world shattering scandal, I'll eat my hat.

 

[zethren]

Seems like a good pick. Trump promised a pro-business environment.

Let me get this straight. You guys are going from a former federal prosecutor, who has gone after law breaking Wall Street companies harder than anyone has in decades, to a Wall Street lawyer whose job it is to defend said Wall Street firms? This is the change of guards your new president feels is appropriate for the SEC? Ahh...what?!

Seems like a good pick?

 

[Lord Frieza]

Anyone holding cash needs to go long in financials, oil, tech and blue chips.

inflation is going to murder and equities are about to go boom (and then probably bust)

Can you explain what you mean here?

don't be silly. they just want more money, end of thought

Very true for some, maybe most, but you're being naive here if you think the GOP isn't looking to rewrite this country, and you should take a look at some of the stuff Steve Bannon has said. It's coming, and I really don't see how it can be stopped at this point.

 

[Dubbedinenglish]

What if you are poor?

Wait for the trickle, ignore the yellow color and off smell.

 

[djkimothy]

Hope you're happy, Bernie or Busters. 👍🏻

this has to be emphasized more. They deserve everything that's coming to them.

 

[Lord Frieza]

Seems like a good pick. Trump promised a pro-business environment.

So, pro-business is fuck everyone else, and then eventually most businesses not too long after?

 

[radios shipping overview]

Seems like a good pick. Trump promised a pro-business environment.

I can't wait to party like it's September 2008 again, personally

 

[PBY]

Seems like a good pick?

I also think its a "good" pick (heavily qualifying this, with the caveat that "good" is all relative in a Trump world). He's actually qualified. He won't be handling enforcement, he'll be setting the policy directives. Sure - his clients are the big banks, but you'd be SHOCKED to see where a lot of former SEC attorneys work following their stint at the agency.

If anything, I'm just relieved this is a guy who smart and knows the industry. SullCrom is a great firm, and if we're talking about incentives at play here, the legal industry isn't reaaally that incentivized by deregulation. I just didn't foresee a world where this administration didn't try to repeal Dodd-Frank and slash financial oversight, so at least I take comfort that it isn't someone unqualified.

 

[zethren]

So, pro-business is fuck everyone else, and then eventually most businesses not too long after?

The way money and corporations are idolized in this country, work work work, boot straps boot straps boot straps, etc etc. It's not surprising that this is happening.

People look up to Trump because he is rich (supposedly). That is literally it. They make up the other reasons as they go along.

 

[Boney]

 

[Heshinsi]

The way money and corporations are idolized in this country, work work work, boot straps boot straps boot straps, etc etc. It's not surprising that this is happening.

People look up to Trump because he is rich (supposedly). That is literally it. They make up the other reasons as they go along.

But he's rich partly because he spent a life time screwing people over. People not too dissimilar to the majority of his supporters. I don't fucking get it.

 

[WeAreStarStuff]

Scorched Earth policy.

 

[B-Dubs]

What if you are poor?



Instead of chickens in the coop, he is bringing foxes and coyotes

By foxes and coyotes you mean wolves and mountain lions.

 

[Ushojax]

But he's rich partly because he spent a life time screwing people over. People not too dissimilar to the majority of his supporters. I don't fucking get it.

Temporarily embarrassed millionaires.

 

[Netherscourge]

They never EVER tell you what regulations they want to get rid of.

Never.

I've heard the same thing since forever. REGULATIONS ARE KILLING JOBS, etc.

They dont even tell you which ones. Just generic bullshit.

I'm guessing it has a lot to do with:

--Hiring practices and accommodations (aka - equal opportunity employment; meeting certain quotas, having ramps and dedicated parking for the physically disabled, etc...)

--Safety regulations (aka - OSHA forcing you to buy everyone safety helmets and pay for their training courses)

--Environmental regulations (aka the EPA forcing me to remove X chemical from my products and using more expensive Y chemical because of toxic emissions)

Pretty much any regulation that costs extra money or forces a business to pay for any sort of accommodation for the greater good will be targeted.

Because, Trump don't give a fuck.

 

[Splash Wave]

Hope you're happy, Bernie or Busters. 👍🏻

Bernie or Busters were definitely the reason Hillary lost the election.

 

[zethren]

But he's rich partly because he spent a life time screwing people over. People not too dissimilar to the majority of his supporters. I don't fucking get it.

He did to his supporters what he's done to all of those businesses/people throughout the years: he conned them. He screwed millions of people by being a con man.

Remember his line: "We won with the poorly educated! I love the poorly educated!"

They believe he tells it like it is, when in reality he's just telling them what they want to hear so they can elect him. The man is a fraud.