President Trump Visits Treasury Department to Announce Reform Policy Review…

President Trump visited the Treasury Department today so sign one executive order and two presidential memorandums.

The executive order requires Treasury to identify and lessen burdens from tax regulations issued in 2016.  The two memorandum focus on examining and possibly revisiting two areas of the 2010 Dodd-Frank financial reform law in an effort to remove the regulatory and compliance burdens on smaller banks.

When Dodd-Frank was instituted it was sold to the electorate as a bill to stop banks from becoming too big to fail, there were 12 massive banks under that definition.  The goal was to create more national banks.  Since passage those ‘too big to fail banks‘ have become even bigger.  Twelve banks, are now five even bigger banks.  Go figure.

[Transcript] 2:55 P.M. EDT THE PRESIDENT: Thank you very much, Steve. Great honor, I must say. It’s a great pleasure to be at the United States Treasury Department and to meet so many dedicated public servants.

I went through that beautiful hallway where those incredible paintings of past secretaries, and it was really very interesting. I want to read every one, I want to learn about every one of them, but we have one that I hope will go down as one of the greats. I think Hamilton is tough to beat, but maybe you can do that too. We’ll take it, right? But thank you very much.

The Treasury Department is the guardian of America’s wealth and a worldwide symbol of American prestige. This department was first led by the same gentleman, Alexander Hamilton, a man who understood that the government must protect the jobs of its citizens and the wealth of our nation.

Secretary Mnuchin, who I’ve known for so long, and he’s so good and so smart and so financially adept, is working very hard every day to do just that — to protect the working citizen of America, and to safeguard our finances from anyone, anybody, any nation who would try to take advantage of the United States. His vast experience and financial talent are now being put into service on behalf of the American people. And you’ll see what I mean very soon.

We have taken unprecedented action to bring back our jobs and return power to our citizens. It’s been taken away. We’ve lifted one terrible regulation after another at a record clip, from the energy sector to the auto sector. And we have many more to go, and that’s going to be happening over the next, I would say, four to five weeks. And we’ve begun a historic effort to protect our manufacturing and our manufacturing businesses, companies and our workers from unfair foreign trade.

Protecting our Treasury also means getting other countries to finally pay their fair share for the cost of defense, and many other global projects that for too long have fallen under our guidance and, unfortunately, fallen under the United States taxpayer expense. And we’re going to end that; we’re going to end it quickly. We want fairness. We don’t want to take advantage of anyone. We want fairness.

We’re now in the process of rebuilding America, and there’s a new optimism sweeping across our country like people have not seen in many, many decades. We’re here today to continue this great economic revival. I will be signing three presidential directives to further protect our workers and our taxpayers.

The first executive action instructs Secretary Mnuchin to begin the process of tax simplification. Such a big thing. People can’t do their returns. They have no idea what they’re doing. They’re too complicated.

This regulatory reduction is the first step toward a tax reform that reduces rates, provides relief to our middle class, and lowers our business tax, which is one of the highest in the world and has stopped us from so much wealth and productivity.

Secretary Mnuchin is a leader in our effort to make America competitive again. We’re going to make it great again, we’re going to make it strong again, we’re going to make it safe again, and we’re going to make it competitive again.

I’m also issuing two directives that instruct Secretary Mnuchin to review the damaging Dodd-Frank regulations that failed to hold Wall Street firms accountable. I mean, they’ve done really, in many cases, the opposite of what they were supposed to. These regulations enshrine “too big to fail” and encourage risky behavior.

We’re taking steps to make our economy more fair and prosperous for all. As part of our broader financial strategy, we’re working to open up lending to small businesses and entrepreneurs, including our incredible women entrepreneurs who are doing better and better and better. We want opportunity for everyone and in every single part of our country.

Secretary Mnuchin and my entire administration are working around the clock to help struggling Americans achieve their financial dreams, earn a great paycheck, have a job that they love going to every single day, and have real confidence in the future. Together, we will restore prosperity to this nation, a nation that we so dearly love, and to bring people — who call this home — into a great, great way of living and a great way of life. They’re going to be thrilled. We’re going to be thrilled.

And you’re going to be seeing some very, very major changes. You’ve already seen them. I don’t know if anybody has looked recently, but if you looked at optimism indexes that are just coming out, manufacturing in particular, where it’s up to the highest point it’s ever been — 93 percent — it was a 27 percent increase over the past, over the last one.

So I just want to thank everybody for being here. This is such a privilege for me to sign. This is really the beginning of a whole new way of life that this country hasn’t seen in really many, many years. I want to thank you, and I want to God bless America. Thank you. Thank you, everybody.

So this is identifying and reducing tax regulatory burdens. That covers a lot of territory, believe me.

(The President signs the executive order.)

This is the subject of Financial Stability, the Oversight Council. Very important.

(The President signs the executive order.)

This is Orderly Liquidation Authority. It doesn’t sound like much, but it is. That’s a biggie. It doesn’t sound good, but it is.

(The President signs the executive order.)

And we’ll be having a big announcement on Wednesday having to do with tax reform. The process has begun long ago, but it really formally begins on Wednesday. So go to it.

Thank you very much, everybody. Thank you.

END – 3:03 P.M. EDT

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This entry was posted in Bailouts, Big Government, Big Stupid Government, President Trump, Uncategorized, US Treasury. Bookmark the permalink.

58 Responses to President Trump Visits Treasury Department to Announce Reform Policy Review…

  1. Pam says:

    It was truly exciting to watch this today. I gotta admit seeing the cheers from the treasury employees was very heartwarming.

    Liked by 20 people

  2. joshua says:

    GUESS WE WILL NOT BE SEEING A WOMAN’S PICTURE ON US CURRENCY NOW.

    Liked by 7 people

  3. I think those two genuinely like each other. Good.

    Liked by 9 people

  4. lorenetn says:

    Pretty cold reception from the staff. No applause at all on Sec. Mnuchin’s find introduction.

    Guess they are another bunch of swamp critters. Mnuchin has his work cut out for him.

    Like

    • SharonKinDC says:

      Did you not watch the video posted by SD in the thread? They cheered his arrival.

      Liked by 12 people

      • deanbrh says:

        The posts above really keep me wondering WHAT pleasure is derived from reaching (and commenting on) conclusions that have absolutely no basis in fact. It reminds me of the faked photos of the Inauguration and of the patriots. What pleasure was derived from that chicanery? Why does one person comment on cheering crowds and another on cold non-applauding crowds, looking at the same information? Rhetorical question, expressing the rage of unrequited love for a man who works harder than any other President we’ve ever had.

        Liked by 7 people

    • wyntre says:

      Guess you missed the clip of Treasury employees CHEERING POTUS Trump in your rush to post that comment.

      Liked by 13 people

  5. Pam says:

    Liked by 14 people

  6. annieoakley says:

    Dodd Frank is a travesty. Christopher Dodd and Barney Frank are multi millionaires at the very least and the rest of us are scraping by as usual.

    Liked by 12 people

  7. Pam says:

    Liked by 13 people

  8. Pam says:

    Liked by 13 people

  9. TexasDude says:

    What the “Great Recession”, which ended without TARP or any other help in 2009, did was to reward banks, business, and institutions that caused the mess in the first place!

    Liked by 10 people

  10. A2 says:

    Weekends with Mnuchin. I envision the congresscreatures having to watch and read about Mr Behemoth Swamp Wrestler on loop. Doesn’t get better than this

    Liked by 2 people

  11. David says:

    I am Israeli. It looks like your media is not reporting an American win from today. See attached.
    http://www.israelnationalnews.com/News/News.aspx/228406

    Liked by 9 people

    • ALEX says:

      I posted that in the comments earlier, but you are correct in many ways. Recent report showed 89% of the three evening news channels posted negative stories on President Trump since inauguration….

      They haven’t stopped the campaign style attacks and something like this or the Egyptian women being released and the reason(Trump asked,no deal made) are not part of narrative…It’s their loss and sad for the Americans watching these shows…They are the useful idiots as described so long ago…

      Liked by 7 people

    • In AZ says:

      Thank you David!

      Liked by 3 people

  12. wodiej says:

    Still winning? Sheesh, I don’t know….Well, ok.

    Like

  13. ALEX says:

    These issues with Healthcare and regulations have completely throttled this economy and I can say this as business owner… 4 – 5%+ growth is not out of question in a few years as President Trump returns us to policies not seen in decades…The energy sector is exploding.

    I firmly believe 3% plus is possible without any Congressional action and the fact President Trump will Veto any growth reducing junk from Congress…MAGA

    Liked by 11 people

  14. Trumpire says:

    Protecting our Treasury also means…ending DACA. Another politician who wants to president of Mexico.

    Nothing like throwing your base under the bus and trying to please all those who didn’t and never will vote for you.

    Trump tells young immigrants in US illegally to ‘rest easy’
    http://www.freerepublic.com/focus/f-news/3546220/posts

    Trump OKs DACA Amnesty: ‘This Is a Case of Heart’
    http://www.breitbart.com/big-government/2017/04/21/trump-says-daca-illegals-can-rest-easy/

    Liked by 1 person

    • ALEX says:

      Troll away

      Liked by 2 people

      • Trumpire says:

        No I’m not a troll. I was on the Trump Train back in 2010 when he was considering a run in 2012.

        Try again.

        Liked by 3 people

        • Bree says:

          You should try again.

          Liked by 2 people

        • My understanding he can’t just overturn DACA.

          Like

          • Trumpire says:

            Thank you for your thoughtful reply. Unlike the other juvenile responses.

            Trump said:

            ““We will immediately terminate President Obama’s two illegal executive amnesties, in which he defied federal law and the constitution to give amnesty to approximately 5 million illegal immigrants,” Trump said during a speech in Phoenix in August. “In a Trump Administration, all immigration laws will be enforced. As with any law enforcement activity, we will set priorities. But, unlike this Administration, no one will be immune or exempt from enforcement — and ICE and Border Patrol officers will be allowed to do their jobs.”

            http://dailycaller.com/2017/04/21/candidate-trump-promised-to-terminate-daca-president-trump-says-dreamers-should-rest-easy/#ixzz4evs9OFV9
            Trump said he would rescind Obama’s illegal executive orders on immigration. Now it is Trump’s illegal DACA program.

            Donald Trump opposed DACA and DAPA and called Obama’s executive orders on DACA and DAPA “one of the most unconstitutional actions ever undertaken by a President.”

            https://ballotpedia.org/Donald_Trump_presidential_campaign,_2016/DACA_and_DAPA

            After the United States Supreme Court blocked President Obama from implementing his Immigration Accountability Executive Actions on June 23, 2016, Donald Trump tweeted: “SC has kept us safe from exec amnesty–for now. But Hillary has pledged to expand it, taking jobs from Hispanic & African-American workers.”[3] He also issued the following statement: “Today’s 4-4 Supreme Court ruling has blocked one of the most unconstitutional actions ever undertaken by a President. The executive amnesty from President Obama wiped away the immigration rules written by Congress, giving work permits and entitlement benefits to people illegally in the country. This split decision also makes clear what is at stake in November. The election, and the Supreme Court appointments that come with it will decide whether or not we have a border and, hence, a country. Clinton has pledged to expand Obama’s executive amnesty, hurting poor African-American and Hispanic workers by giving away their jobs and federal resources to illegal immigrant labor – while making us all less safe. It is time to protect our country and Make America Safe Again and Great Again for everyone.”[

            In August 2015, Trump said that he would rescind President Obama’s Immigration Accountability Executive Actions, which proposed extending DACA and creating DAPA. During an interview with Chuck Todd, host of NBC’s “Meet the Press,” Trump said, “We have to make a whole new set of standards. And when people come in, they have to come in…” Todd then interrupted Trump, asking, “You’re going to split up families. You’re going to deport children.” Trump replied, “Chuck — no, no. No, we’re going to keep the families together. We have to keep the families together.” Todd then asked, “But you’re going to kick them out?” Trump replied, “They have to go.” Todd then asked, “What if they have no place to go?” Trump said, “We will work with them. They have to go. Chuck, we either have a country or we don’t have a country. Either we have a country or not.”

            More history on the topic.
            https://ballotpedia.org/2016_presidential_candidates_on_DACA_and_DAPA

            Liked by 4 people

            • jwingermany says:

              You are right that candidate Trump did make those statements early on in his run. As you pointed out…it was August 2015.

              However, Trump backed off his position on Dreamers long before the election…saying that the subject needed to be looked at much closer.

              When confronted with new data and information, you are unwilling to change your mind…then you are not thinking.

              Liked by 1 person

              • Or maybe… When promised that an unconstitutional act by a previous presisent will be reversed, only to see that promise broken, he (?) is justifiably MIFFED?

                DACA and DAPA need to GO, and anything short of that is complicity. No amount of bloviation or gaslightiing will change that.

                Like

                • jwingermany says:

                  In my humble opinion, I think it sounds somewhat short-sighted…to put it mildly.

                  I believe President Trump understands the fight. It would be unwise to forget the relentless opposition he faces, not only from Democrats…but, that from bought politicians within his own party.

                  This fight is not a linear fight…it’s a war with many front lines. It is up to us to understand that appearances are not always what they seem to be.

                  “Sorry to keep you waiting—complicated business.”

                  Liked by 2 people

    • TexasDude says:

      Sigh … Trump has stated in his speeches and otherwise that those children brought here should have special consideration, so to speak.

      Trump is extemely nuanced and many if not all issues, as most Americans are.
      Troll? Maybe, but you heard want you wanted and not what he said, that’s for sure.

      Liked by 1 person

      • Trumpire says:

        Sigh…

        ““We will immediately terminate President Obama’s two illegal executive amnesties, in which he defied federal law and the constitution to give amnesty to approximately 5 million illegal immigrants,” Trump said during a speech in Phoenix in August.”

        Where’s the nuance in his statement above? Well, we are three months in and he’s hasn’t “immediately” stopped Obama’s illegal executive orders. In fact, it’s my understanding that they are still issuing dreamer deferments as we speak.

        “Trump has stated in his speeches and otherwise that those children brought here should have special consideration, so to speak.”

        Oh really? What law says that we can pick and choose which children we want to flout the law for? There isn’t one. There’s only Obama’s illegal executive orders.

        What about American children who are shafted in overcrowded classrooms. What about American children who are doing with less because their parents are paying to educate, feed, and provide healthcare for these illegal children, things they can’t even afford for their own children, because their property tax money is being spent on illegals instead of their own children. What about the jobs the parents of these illegal children who are still taking jobs away from American citizens?

        Blah…he’s shafting us. Foreign children come before American children.

        The troll designation is lame. It was useful during the election because of paid bots swarms but now it’s just used by lazy people who can handle adult discussions over real policies, programs and campaign promises.

        Liked by 3 people

        • deanbrh says:

          With all due respect, “Patience Jackass!” Sorry I can’t recall the source of that quote.

          Liked by 1 person

          • Trumpire says:

            “We will immediately terminate President Obama’s two illegal executive amnesties, in which he defied federal law and the constitution to give amnesty to approximately 5 million illegal immigrants,” Trump said during a speech in Phoenix in August.”

            So you call me a jackass because I believed “immediately” would be sometime before three months in?

            So do you know who else was expecting DACA to come to an “immediate” stop after his inauguration? One of the mothers of a child killed by an illegal who Trump had on stage. Is she a jackass too?

            You are quite rude.

            Liked by 3 people

          • starfcker says:

            You’re right, trumpire, we all should have voted for hillary. You happy now? You are clueless, doing big things requires two disciplines. Do what’s most important, and just keep grinding. Folks like you won’t be happy for a long time. Nobody cares.

            Liked by 4 people

            • Trumpire says:

              Classy name you got there. Seems appropriate for you too.

              “You’re right, trumpire, we all should have voted for hillary.”

              Strawman.

              “You happy now?”

              I’d be happier if Trump ended DACA like he said he would. Immediately.

              “You are clueless, doing big things requires two disciplines. Do what’s most important, and just keep grinding.”

              Keeping his promise to end DACA with the stroke of a pen – executive order – takes no grinding and it actually rewards his voters instead of rewarding criminals.

              “Folks like you won’t be happy for a long time.”

              If he doesn’t keep his promises on ending DACA and favoring illegals over citizens then you’ll be correct. But I won’t be alone in my unhappiness. I guarantee you that.

              “Nobody cares.”

              Obviously you do.

              Liked by 3 people

  15. David says:

    Mattis arrives to Israel. Meets old friends.

    Liked by 8 people

  16. TexasDude says:

    Tax Reform will work, but is made harder by the idiots in Congress on Obamacare, a tax law.

    The reason Trump is using Executive Order after Executive Order is because of the fact he can and Republican controlled Congress won’t!

    Liked by 7 people

  17. ivehadit says:

    God bless you, Donald Trump and your cabinet. I pray for your success and strength multiple times a day.
    Because it is so. very. important.

    Liked by 9 people

  18. Jeff says:

    Dodd/”FWANK” was a CAPITALISM killa’ just as OBAMACARE was a Health Care killa’ . The UNIPARTY won’t repeal Dodd/”FWANK” OR the not so ACA . President Trump will do all he can to restore CAPITALISM !! As insurers pull out of states then POTUS can issue EO to encourage the market to restore competition . THE UNIPARTY is guarding the WALL to CoC crony fascism . Trump is going around the UNIPARTY wall .

    There is more than one way to skin a commie !!

    Like

  19. Paul Killinger says:

    You immigration hardliners (I’m one myself) should consider lightening up on Pres Trump’s temporary handling of Obama’s “Dreamers.”

    The only reason they’re here at all is due to the actions of our three most previous Presidents (Clinton, GW and Obama) and the complicity of the US Congress, all of whom WILLFULLY IGNORED existing immigration statutes.

    So if you want to get mad at someone, look at them and the folks who voted for all these federal elected officials (which in most cases includes ourselves).

    Meanwhile, I’m sure Pres Trump and the few supporters he has on this issue in Congress would like to hear YOUR ideas as to how to remove the 40% of illegals now residing in the US who flew in, overstayed their visas and have illegally taken your jobs.

    Liked by 3 people

  20. ledygrey says:

    Anyone here know who Steve Mnuchin’s assistant is? The smartly dressed young man with dark longish hair who is seen almost all the time with him or right behind him in pictures? He sat right behind him in the nomination hearing, was with him in all Mnuchin’s comings and goings at Trump Tower. Just curious.

    Liked by 1 person

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