Rewarding Friends and Businesses

The conflicts of interests just keep coming. Yesterday, Trump signed yet another executive starting his administration’s bid to overhaul Dodd-Frank. Of course, an overhaul is needed.

But take just these two paragraphs as reported accurately by the Washington Post:

“We expect to be cutting a lot out of Dodd-Frank,” Trump said during a meeting with business leaders Friday morning. “Because frankly, I have so many people, friends of mine, that had nice businesses, they just can’t borrow money . . . because the banks just won’t let them borrow because of the rules and regulations in Dodd- Frank…

During the meeting with more than a dozen chief executives, Trump noted that there were several bankers in the room, including Larry Fink, chief executive of the huge investment firm BlackRock. “Larry’s got a lot of my money, and I have to tell you, he got me great returns,” Trump said to laughs in the room.

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