Steven Mnuchin Is The Best Hope For Fannie And Freddie Hedge Fund Billionaires

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http://www.forbes.com/sites/antoinegara/2016/11/30/trumps-treasury-pick-steven-mnuchin-is-the-best-hope-for-fannie-and-freddie-hedge-fund-billionaires/#51e6b05f6649

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Trump Treasury Choice Steven Mnuchin Vows to ‘Strip Back’ Dodd-Frank

http://www.wsj.com/articles/trump-treasury-choice-steven-mnuchin-vows-to-strip-back-dodd-frank-1480513188

“The number one problem with Dodd-Frank is that it’s way too complicated and cuts back lending,” banker Steven Mnuchin told CNBC in his first public comments since being tapped by the president-elect to head his economic team.

“So we want to strip back parts of Dodd-Frank and that will be the number one priority on the regulatory side,” Mr. Mnuchin said, according to a rush transcript of the interview.

(...)

Mr. Mnuchin, a former Goldman Sachs Group Inc. executive, discussed the Volcker rule provision in the law—named after former Federal Reserve Chairman Paul Volcker—which is aimed at trying to stop banks from betting with deposit-insured funds. Goldman and other Wall Street firms have complained that the rule is too opaque and complex.