ELIZABETH WARREN RAILS AT TRUMP: 'Wall Street bankers and lobbyists ... may be toasting each other with Champagne'

elizabeth warrenMassachusetts Sen. Elizabeth Warren.Justin Sullivan/Getty Images

Massachusetts Sen. Elizabeth Warren is attacking two executive orders President Donald Trump signed on Friday.

The two orders are expected to roll back post-crisis Wall Street reform (the Dodd-Frank Act) and an Obama-era rule meant to protect Americans' retirement money, the so-called fiduciary rule.

The Democratic senator has long advocated the fiduciary rule, which would set in place, universally and for the first time, a requirement for financial advisers to act in their clients' best interests when overseeing retirement money. (You can read more about the intricacies of the rule here.)

Congress passed Dodd-Frank in the wake of the 2008-09 financial crisis in sweeping reforms that changed how banks could do business.

Here's the full statement from Warren:

"Donald Trump talked a big game about Wall Street during his campaign — but as president, we're finding out whose side he's really on.

"Today, after literally standing alongside big bank and hedge fund CEOs, he announced two new orders — one that will make it easier for investment advisers to cheat you out of your retirement savings, and another that will put two former Goldman Sachs executives in charge of gutting the rules that protect you from financial fraud and another economic meltdown.

"The Wall Street bankers and lobbyists whose greed and recklessness nearly destroyed this country may be toasting each other with Champagne, but the American people have not forgotten the 2008 financial crisis — and they will not forget what happened today."


Copyright © 2016 Business Insider Inc. Tous droits réservés. Conditions d'utilisations | Charte de protection des données | Publicité

Editions Internationales US UK DE FR AUS ID IN MY SG PL SE NL