Even Corporations Think Donald Trump Is a Little Too Nice to Corporations

Donald Trump wants to loosen the Volcker Rule, which regulates whose money banks can gamble with, but it turns out that even Wall Street doesn’t want him to do this:

“I can’t imagine this aspect of the proposal being preferable to the original and current Volcker 1.0 regime,” said Gregg Rozansky, a senior vice president at the Bank Policy Institute, an industry trade group representing the nation’s largest banks. “It could raise prices for student loans, credit cards or auto loans,” he added.

This comes on the heels of the auto industry asking Trump to back off on his repeal of Obama’s mileage standards. And the agriculture industry complaining about Trump’s tariffs. Hell, even the coal industry is leery of Trump’s proposal to force people to buy energy from designated coal plants.

It’s one thing to be slavishly pro-business, but it’s quite another to be so abject and incompetent about it that even big business wants you to slow down a bit. Which reminds me: have I shown you a chart of corporate profits lately? I have? Well, it can’t hurt to see it again, I suppose:

That nice little blip at the end starts in the final quarter of 2017, right when the Republican tax cut kicked in. Happy days!

LESS DREADING, MORE DOING

This is the rubber-meets-road moment: the early days in our first fundraising drive since we took a big swing and merged with CIR to bring fearless investigative reporting to the internet, radio, video, and everywhere else that people need an antidote to lies and propaganda.

Donations have started slow, and we hope that explaining, level-headedly, why your support really is everything for our reporting will make a difference. Learn more in “Less Dreading, More Doing,” or in this 2:28 video about our merger (that literally just won an award), and please pitch in if you can right now.

payment methods

LESS DREADING, MORE DOING

This is the rubber-meets-road moment: the early days in our first fundraising drive since we took a big swing and merged with CIR to bring fearless investigative reporting to the internet, radio, video, and everywhere else that people need an antidote to lies and propaganda.

Donations have started slow, and we hope that explaining, level-headedly, why your support really is everything for our reporting will make a difference. Learn more in “Less Dreading, More Doing,” or in this 2:28 video about our merger (that literally just won an award), and please pitch in if you can right now.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate