Janet Yellen debunks Trump's case for killing Dodd-Frank

[riversedge]

Source: CNNMoney




Trumponomics




by Matt Egan @mattmegan5 February 14, 2017: 3:20 PM ET
Yellen: U.S. banks are lending and globally competitive




President Trump recently vowed to "do a big number" on Dodd-Frank. Janet Yellen doesn't believe that should happen.

Point by point, the Federal Reserve chief on Tuesday debunked the core arguments used by the White House to push for rolling back the 2010 Wall Street reform law.

Trump has bashed Dodd-Frank as a "disaster" that has choked off bank loans. The president even said "many friends of mine who have nice businesses" can't get loans due to strangling regulations.


Asked during Tuesday's U.S. Senate hearing if there's any truth to claims that banks aren't lending, Yellen said an "extremely low number" of small businesses complained of access to credit as their main problem.

The Fed chief quickly rattled off numbers from a National Federation of Independent Businesses survey showing that just 4% of respondents are unable to get the loans they need. ...............................



Read more: http://money.cnn.com/2017/02/14/investing/janet-yellen-dodd-frank-trump/index.html

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So Trump has 'many friends". He uses anecdotal information form his 'friends' to say Todd-Frand is a disaster. Idiot.

[Bernardo de La Paz]

1. Deceptive graph lies (or very close)

It is a visual lie, but they do have an "out" -- they did label the Y-axis with trillions. But it was not necessary, given the scale of things to cut off the bottom 1.15 trillion the way they did. Their point would have been just as potent, just as important, just as visible.

[Ilsa]

2. Uh, not everyone who needs credit should get it.

I can think of someone with the initials "Donald J Trump" who has been a really bad credit risk.

[BumRushDaShow]

3. It's only a disaster for people like him

who have had multiple bankruptcies and hundreds of millions in debt.

[ScubaSteve]

4. BOOM!!!

You nailed it! Great one liner of truth, and the chart to back it up, nice!

[JHan]

5. K & R..

Missed this post.

[muriel_volestrangler]

6. Anyone with a Republican Representative or Senator should send this to them

telling them they need to listen to an impartial expert, not the Goldman Sachs cabinet, and keep Dodd-Frank.