Daily Archives: November 13, 2016

Donald Trump opposed Wall Street regulations in past interviews

Donald Trump remained relatively silent on financial regulation during his presidential campaign but past interviews reviewed by CNN’s KFile show his support for deregulating the financial industry and reveal how a Trump administration may deal with Wall Street.

In the days after Trump’s victory, the Dow Jones Industrial Average unexpectedly soared to record highs. On the campaign trail, the president-elect has promised to repeal the 2010 Dodd-Frank law that imposed regulations on the financial industry in the aftermath of the Great Recession, but did little to tip his hand on how he would approach financial regulation as a whole.

In interviews with Fox News and CNBC in 2011 and 2012, Trump expressed his deep disbelief in the effectiveness of regulations in general.

Read on.

Court allows lenders to restart foreclosures any time

The Florida Supreme Court ruled that mortgage lenders can restart a suspended foreclosure at any time instead of within five years after a borrower defaults.

The court ruled that the five-year statute of limitations for foreclosure cases is dynamic, not static, resetting each month a mortgage borrower remains in default.

Michele Stocker, an attorney in Fort Lauderdale who represents mortgage lenders, told the Tampa Bay Times the state Supreme Court’s decision “effectively removes the unfair notion that people can live in a home for free after an extended period of time. It could help clear out the backlog of cases that have been sitting around for a while.”

The ruling arose from the 10-year-old case of Lewis Bartram, who defaulted on a $650,000 loan secured by a home in Ponte Vedra Beach.

U.S. Bank began foreclosure proceedings against Bartram in 2006, but the case languished because the bank’s law firm, a foreclosure mill headed by attorney David Stern, went out of business.

Read on.

Le Pen Says ‘We Are Not Going to Welcome Any More People’

Bloomberg:

France can’t take any more immigrants and it isn’t racist to say so, Marine Le Pen, head of France’s National Front, said in an interview with BBC television.

“We are not going to welcome any more people,” she said. “Stop. We are full.”

She said Donald Trump’s victory in the U.S. “showed that what they said was impossible is possible.”

“They’re Going To Be Gone” – Trump Vows To Deport Millions Of ‘Criminal’ Undocumented Illegal Immigrants

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Reince Priebus Confirmed As Trump’s Chief Of Staff; Bannon Becomes Chief Strategist

Taxpayers are still bailing out Wall Street, eight years later

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NEW YORK — Eight-years after taxpayers rescued the U.S. financial system, some of the country’s largest banks, including JPMorgan Chase and Wells Fargo, continue to receive billions in bailout money, according to government data.

Wells Fargo is eligible for up to $1.5 billion in bailout funds over the next seven years. JPMorgan and Bank of America could receive $1.1 billion and $964 million respectively.

The continuous flow of funds is a remnant of the $700 billion bailout effort, known as the Troubled Asset Relief Program or TARP, put in place during the financial crisis. Some of that money, about $28 billion, was carved out to help distressed homeowners by paying banks to lower their interest rates and monthly payments.

Read on.

Trump’s transition team is full of lobbyists, includes a climate change-denier and an ex-federal prosecutor involved in the mass firings of U.S. attorneys

 

resident-elect Donald Trump is shaking up his transition team as he plunges into setting up his administration, an enormous undertaking that likely requires him to alter his hands-on management style and consider going outside his small, insular group of loyalists.

Vice President-elect Mike Pence is now heading the operations, a demotion for New Jersey Gov. Chris Christie, who had been running the Republican’s transition planning for months.

Lobbyists and think tanks flooding transition effort to fill thousands of jobs and craft agenda 

  • Trump’s campaign spent relatively little time on transition planning during the campaign
  • Dozens of possible cabinet appointees have been floated including some seasoned Washington hands
  • Trump appears to be leaning toward seasoned Republicans for many economic positions
  • David Malpass, a former Treasury and State Department official, and Paul Atkins, a former Securities and Exchange Commission official, are guiding the transition team on economic issues

The scramble is on to identify people for top White House jobs and Cabinet posts, a herculean task that must be well in hand by the time Trump is inaugurated on January 20.

For Trump, who ran on a pledge to ‘drain the swamp’ of Washington insiders, the team is strikingly heavy on those with long political resumes.

 

WANTED! TOP JOBS IN TRUMPS TRANSITION TEAM

DEFENSE AND NATIONAL SECURITY 

Retired Lt. Gen. Keith Kellogg has been working closely with Trump adviser and retired Army Lt. Gen. Mike Flynn, advising the Trump campaign on matters relating to foreign policy and national security.

He was chief operating officer of the Coalition Provisional Authority in Iraq, the interim governing body following the fall of Saddam Hussein in 2003.

He previously worked as executive vice president of research and technology for Virginia-based information technology firm CACI International, which works as a contractor for defense, intelligence and homeland security agencies.

Read more: http://www.dailymail.co.uk/news/article-3929526/Trumps-transition-team-signals-return-GOP-establishment.html#ixzz4Ps5QJn1T