Should-Read: Mark Thoma: Killing Banking Rules Will Invite a Whopper of a Recession

Should-Read: Mark Thoma: Killing Banking Rules Will Invite a Whopper of a Recession: “As for repealing Dodd-Frank, consider this statement by Treasury Secretary Steven Mnuchin… http://www.thefiscaltimes.com/Columns/2017/05/08/Killing-Banking-Rules-Will-Invite-Whopper-Recession

…Speaking at the Milken Global Conference last week, which is attended by key people in the financial industry, he boasted, “You should all thank me for your bank stocks doing better.”… Increasing the risk of another financial meltdown and a large recession, which would once again be paid for mainly by all the people who lose their jobs, homes, retirement savings, and so on rather than the wealthy interests benefitting from the change in policy, is worth making bank stocks do better. If the Financial Choice Act is passed, the risk of a deep and prolonged recession, which would once again hurt millions and millions of households, will go up…