Donald Trump held a meeting with business leaders Friday morning and told the world that he’s going to gut Dodd/Frank because his best buddies can’t get business loans.
Trump praised JP Morgan’s CEO Jamie Dimon, a member of his economic advisory board, during the meeting and then set his sights on Dodd-Frank, the Wall Street Reform and Consumer Protection Act.
Trump talked about cutting taxes and then said, “…and to do what we have to do in terms of regulation. We have some of the bankers here, there’s nobody better to tell me about Dodd/Frank than Jamie.”
He continued, “We expect to cut a lot out of Dodd/Frank because frankly I have so many people, friends of mine, who have nice businesses, they can’t borrow money because the banks just won’t let them borrow because of rules and regulations and Dodd/Frank, so we’ll be talking about that in terms of the banking industry.”