President Donald Trump has repeatedly vowed to loosen Wall Street’s leash, but some of regulators’ most meaningful efforts to revamp post-crisis constraints on big banks are running into problems. Take the Volcker Rule, which restricts banks from making risky market bets with their own money. Under Trump, federal agencies sprinted to rewrite it, issuing an…
Category: Donald Trump
What Are Corporations Doing With That Tax Windfall?
We are big fans of Illinois Treasurer Michael Frerichs, and were very pleased to see his new report on how CEOs spent the extra money from the Trump tax cut. The theory and the promise was that this money would trickle down to employees, consumers, and investors, and that it would be used to improve…
Trump and Warren are Both Wrong
Jesse Fried says that Senator Warren and President Trump both want to weaken shareholder oversight, Senator Warren with her legislative proposal and President Trump in asking the SEC to review elimination of quarterly reporting: In the absence of any solid evidence that shareholders harm firms, the case for weakening investors has been based on myths,…
Marco Rubio: Tax Bill ‘Probably Went Too Far’ On Corporate Handouts | HuffPost
[Senator Marco] Rubio expressed his reservations [about the Tax Legislation] in an interview with southwest Florida’s News-Press Thursday, noting he thinks Republicans probably gave corporations too much of a handout.“<P><P>If I were king for a day, this tax bill would have looked different,” he said. “I thought we probably went too far on [helping] corporations.”The…
This is What Would Happen if We Rolled Back Regulations to the 1960’s | HuffPost
VEA Vice Chair Nell Minow responds to President Trump’s initiative to roll back federal regulations to the 1960’s. I’m a passionate supporter of the free market, an entrepreneur who has helped start four successful companies, and an advocate for shareholders as the foundation of capitalism. But there are some things the free market cannot do…
How big oil is tightening its grip on Donald Trump’s White House | Environment | The Guardian
API has gone beyond the lobbying typical of trade associations, helping spawn permanent substructures within the executive branch that ensure its voice is heard. These government entities, which include the petroleum council and an obscure but powerful White House office, have for decades worked in tandem with API to fortify the oil and gas industry,…
Corporate Tax Cuts Don’t Create Jobs, They Enrich CEOs | The Nation
Though congressional Republicans and the White House rarely see eye-to-eye these days, they are united on the idea that cutting corporate taxes will spur an hiring boom that will reach down to the ordinary worker. A new report from the Institute for Policy Studies shows this isn’t true. US companies are already paying minimal amounts…
Campaign urges U.S. public pension funds to divest from owner of Trump hotel
Advocacy groups launched petitions and sent letters on Wednesday urging two of the biggest U.S. public pension funds to divest from an investment fund unless it stops paying one of President Donald Trump’s companies to run a New York hotel.<P><P>Reuters reported on April 26 that public pension funds in at least seven U.S. states periodically…
WSJ CFO Network, Washington 2017
The Wall Street Journal’s CFO Network gathering is always engaging and informative. This year VEA Vice Chair Nell Minow attended to appear at breakout sessions on board effectiveness and shareholder activism, and reported back on what she learned: The speakers included Senators John McCain on national security (he said his biggest fears are North Korea…
Why Corporations Are Helping Donald Trump Lie About Jobs – The New York Times
In an usually sharp statement, the New York Times editorial board took on corporate executives for allowing President-Elect Donald Trump to take credit for creating or saving jobs when either they were not created or saved or he had nothing to do with creating or saving them. [C]ompanies like Sprint seem perfectly happy to go…
