No 100 days. Please

[Draggingtree]

Monday, November 14, 2016

No 100 days. Please

 

Dear President-Elect Trump:

The media and punditocracy are full of speculation about your "100 day" program. It sounds like you and your team might actually be preparing for one. Don't do it. Please.

I know, every new president wants to repeat Franklin Roosevelt’s hundred days: a flurry of new legislation, executive orders and agencies, dramatically changing the country (for better or worse) and cementing his (or her, someday) place in history.

It's not the time, and you're not that president. You can only achieve a similar place in history with the opposite course.

It’s not 1932. We’re not in a national political and economic emergency. Our country does not need a massive dose of new laws, new regulations, new policies, and new agencies. It has lots of laws, regulations, and agencies that aren’t working.

The task for our time is to fix the dysfunction, soothe the polarization, get the sensible compromises passed, and clean up the administration of government. Tax reform. Regulatory reform. Entitlement reform. Immigration reform. Criminal-justice reform. Fix health insurance. Fix Dodd-Frank. There are straightforward, bipartisan workable if not perfect answers to most of these long-standing messes that have been torpedoed by absolutists on one side or another.

 

[Draggingtree]

Zero Hedge

 

Schumer Says He Has The Votes To Block Dodd-Frank Repeal; Threatens Supreme Court Filibuster

 

by Tyler Durden Nov 20, 2016 3:18 PM

 

One of the catalysts behind the surge in bank and financial stocks since the Trump victory, has been the market's expectation that the new administration will repeal Dodd-Frank, and thus undo years of regulatory hurdles that have prevent banks from engaging in everything from prop trading to levering substantially higher, and have cost them billions in legal fees and settlements.

 

However, the market may be getting ahead of itself. In an interview Sunday on NBC’s “Meet the Press, Senate Minority Leader Chuck Schumer, drawing a line in the sand for the next administration, said he has the votes to stop President-elect Donald Trump from repealing the Dodd-Frank Act and “the rules we put in place to limit Wall Street.”

 

Schumer, who was picked by Senate Democrats to serve as minority leader following the retirement of Harry Reid, said he expects that the Senate’s Democratic minority would get help
from Republicans in a fight to preserve Wall Street regulations: “We have 60 votes to block him,”