President Trump signed his newest executive order, rolling back the insanely weak Wall Street regulations balled up in a piece of legislation called Dodd-Frank.
This legislation does almost nothing to regulate Wall Street. However, no doubt, protests will erupt around the globe over essentially nothing. That’s because the big banks are merely acting as front companies for their much larger hedge funds, which are nearly completely unregulated investment companies. So yes, the front companies are weakly regulated by Dodd-Frank.
Have no fear! Like many executive orders, this one is illegal. It takes an act of congress to repeal Dodd-Frank. Then the president can sign the legislation repealing the law. Apparently, Trump doesn’t know this. He’s beginning to appear as ignorant on constitutional matters as President George W. Bush (the worst president in US history, and most likely the most corrupt and dumbest, as well) and the childlike naivety of President Ronald Reagan, who may have been suffering from Alzheimer disease during much of his presidency, at least according to his son, Ronald. I could also point out that when Reagan came on national television about trading arms for hostages with Iran he could say, “I don’t remember.” He sounded like a liar, or a person suffering from the disease. Anyway, back to the main point.
We’ve been played by both major political parties on the authenticity and legality of executive orders. They are not mentioned in the US constitution, so no president has such powers. But the leaders of both major parties make certain not to let the public know this.
So don’t blow too much steam over Trump. He’s either foolish, or he’s playing a role to maintain the support of those who put him in office. He’s big on theatrics, so it’s possibly the latter.
Look to the future. Trump is a one-term president because he’s coming along at the wrong time and the wrong place in history.