US Politics in Trump era Public date: 03.10.2019 13:07:34

Publisher: The Guardian

Author:

12 Feb 2017

Instead of draining the swamp, Trump has become Wall Street’s best buddy

Trump would drain the swamp, he claimed, and reinstate a “21st-century” version of the law separating main street banking from Wall Street – Roosevelt’s Glass-Steagall Act – which was scrapped by President Bill Clinton, in one of his worst decisions. Trump would throw the money men out of the temple, he said. He would reshape finance for the “little guy”. His audiences roared him on.But, in office, Trump has proved to be a great deal friendlier to the titans of Wall Street and their interests than he suggested he would be as a candidate, although a close reading of his speeches foretells some of what is now happening. Far from draining the swamp, he is opening the sluicegates; the money men are not so much being hurled out as in full occupation of the economic citadel.
Trump would drain the swamp, he claimed, and reinstate a “21st-century” version of the law separating main street...

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