Fed's Yellen speaks out against Trump's Wall Street deregulation push

[Tanuki]

http://www.businessinsider.com/feds-yellen-speaks-out-against-trumps-wall-street-deregulation-push-2017-2

...."US President Donald Trump has vowed to rip up Dodd-Frank financial reforms implemented after the deepest crisis in modern history. He recently cited his friends' inability to get loans as a key reason for removing the rules.

In testimony before the Senate Banking Committee on February 14, Democrats asked Yellen whether US President Donald Trump and his fellow Republicans' claim that the new rules were hurting lending and growth had any merit.


She was unequivocal, pointing to a survey of small businesses that shows just 4% are having trouble getting credit.

"Lending has expanded overall by the banking system, and also to small businesses," she said. "US banks are generally considered quite strong relative to their counterparts. They've built up quite a bit of capital, partly as a result of our insistence that they do so."

More broadly, she pushed back against the notion that the new rules had encumbered the economy, arguing instead that they have made the financial system safer and Americans more confident.".......

[rickford66]

1. Why not ask for the particulars about his friends loans ?