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Saturday, 18 February 2017 14:51

Trump wants to get a grip on crippling financial regulation in the US

Tax cuts, deregulation and the slashing of unnecessary red tape is the name of the game for Donald Trump at the moment with regards to sorting our financial wranglings in the US.

Of course, the liberal left is up in arms at this prospect, but to be fair the liberal left like throwing their arms up in the air for no reason anyway. If there's a protest to be had, they're there so just leave them to it.

The crux of the matter is that Donald Trump believes the country (USA) could prosper without the ball and chains that is the Dodd Frank Law.

The Dodd Frank law was put in place after the global financial crisis and its main purpose was to apparently stop another financial crisis from occurring. It was helped in place by Barack Obama.

Donald Trump, however, believes as opposed to protecting the country, the law serves nothing more but to restrict prosperity and business growth. He believes that some businesses have been rejected by the banks because of unnecessary red tape and this has limited their growth prospects, employment prospects and ultimately business success.

If you listen to the lefties they will tell you that he is steam rolling in with these heavy handed ideas and  could potentially be leading the country into a dangerous financial position, possibly back down the road of the global financial crisis. However, when you put it all into perspective and take a step back and look at the facts, what Trump is saying isn't so dangerous and absurd after all. In fact it makes perfect sense and should give businesses more freedom to do well (then again the lefties don't like business success do they?)

All Donald Trump has said on record is that he wants to look at reforming SOME of the regulations that are currently in place. What's wrong with that?

Trump is ultimately hoping that US banks will feel a lot more free from billions of pounds worth of regulation and that consumers will also be able to deal with banks more efficiently. The people who are set to benefit from the changes the most include entrepreneurs and middle class investors.

Many experts from the US and abroad believe it is a dangerous move and are sceptical of how far Trump should go. But we personally feel that some change is necessary and is a good thing. He hasn't said that he's going to do away with all the regulation in place, he's just going to alter and fine tune some things in order to make it easier for businesses and banks to liaise.

How much will change remains to be seen however. The changes that Donald Trump has tried to implement so far; whether that be immigration or red tape regarding the banking sector, has faced severe criticism and has been blocked. It hasn't been plain sailing by any stretch of the imagination. In all honesty, though, what he is saying and what he wants to implement isn't as far-fetched as many media outlets will lead you to believe. 

In fact we believe if Britain followed his lead, especially with respect to giving more freedom for businesses to expand, we feel we'd be in a better place too.

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