Author Archives: MichellYCXX

Trump Plans to Gut Dodd-Frank Because His Friends "Just Can’t Borrow Money"

by MichellYCXX Posted on February 3, 2017

Mother Jones

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President Trump plans to sign an executive order rolling back regulations that his friends find annoying:

The move would address another one of Trump’s campaign promises: Dismantling 2010’s financial reform legislation, known as Dodd Frank. The legislation forced banks to take various steps to prevent another financial crisis, including holding more capital and taking yearly “stress tests” to prove they could withstand economic turbulence. The financial industry, particularly its small community banks, complained the rules went too far.

“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.”

Hey, who needs rules to make banks safer and prevent another financial crash? That’s for weenies. Trump’s rich friends are suffering, and that’s all that matters.

But just in case anyone cares, Trump’s friends aren’t suffering. Last year, total commercial lending hit $2 trillion, compared to $1.5 trillion at the height of the housing bubble. And ever since Dodd-Frank passed, commercial lending has been increasing quite smartly, at about 10 percent per year. That’s higher growth than in the two decades before Obama was elected.

But those are just boring old facts. What matters is Trump’s fiction about his poor friends who can’t get loans. Carry on.

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Trump Plans to Gut Dodd-Frank Because His Friends "Just Can’t Borrow Money"

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Millennials Love Hillary Clinton Now

by MichellYCXX Posted on October 9, 2014

Mother Jones

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The young’uns just love Hillary Clinton these days. A new poll from television network Fusion found that, should Clinton run for president, she’s already got the support of 58 percent of 18-24 year-old Democrats. Vice President Joe Biden and Sen. Elizabeth Warren trail far behind, garnering 13 and 9 percent, respectively.

If Hillary makes it to the general election, 50 percent of 18-24 year-olds say they would support her. Just 33 percent would back a hypothetical Republican nominee. White millennials split 41-41 percent on backing Hillary in a 2016 general election, but she crushes that hypothetical Republican among minority voters: 72 percent among black voters and 63 percent from Hispanics prefer the former secretary of state.

Clinton struggled with college-aged and other young voters when she last ran for president in 2008. But as I explained in April, Ready for Hillary, the super PAC paving the way for her eventual run, has been busy this year recruiting volunteers on college campuses across the country to beef up the Clinton machine and avoid the mistakes she made last time:

The group brought in former Obama campaign youth vote coordinator Rachel Schneider to oversee outreach to voters ages 16 to 30, with a particular focus on those still in school. Schneider has spent the last few months traveling around the country to set up satellite organizations on college campuses with the goal of attracting all of the best student organizers to Clinton’s side before any other Democrat launches a presidential campaign.

…

“I’ve been focused on identifying students on campuses who are interested in being part of this movement from the ground floor,” Schneider says. For Democratic-leaning students interested in a career in politics it’s a no-brainer: leading a Students for Hillary group will position them as prime contenders for low-level jobs in Clinton’s actual campaign.

Ready for Hillary has continued to ramp up its college efforts since the spring, sending the Hillary Bus crisscrossing the country. Over the course of three weeks in late August and early September, the group sent the bus of staffers to about a dozen schools in the south and west, including Clemson, South Carolina State, Claflin University, the University of Arkansas, UNLV, and the University of Colorado–Boulder, to setup pro-Clinton campus groups.

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Millennials Love Hillary Clinton Now

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