In American politics there have in the recent years been families intervening with their Super-PACs and their lobbyist to get their legislation through both U.S. Congress and House of Representatives, as well making sure the Supreme Court are accepting it. Than you have this one industrial family, the Koch brothers David and Charles that has involved themselves in politics and engaged in donating campaign funds to dozens of Republican candidates over the years. These have in return delivered legislation that the Koch brothers industries have profited on.
The Super-PAC named “Freedom Partners” set in plan how the Trump Presidency could repeal and make sure the legislation of Obama administration get away. So the leniency and corporate freedoms get back as it was before. Since this legislation has hampered the ability to gain vast profits on destroying the planet and giving minimum salaries to their employees. Something industrialists like Koch brothers wants more off and not just behaviour from the Federal Government.
Therefore the newest document shows certain aspects of their wish-list of how a Trump Presidency should be:
“• Executive Actions and Proposed Regulations: President-elect Trump can unilaterally rescind any executive action signed by President Obama or proposed regulations that have yet to be finalized, including, but not limited to:
Congress should prioritize the following:
That the Executive orders are coming in and making sure that the economic freedoms of corporations is extended and the limitations of former put legislation are repealed. So that the powerful and rich men which are the core base with core principals of the Trump Administration get their will. Therefore the Koch Brothers and their campaign through this Super-PAC are already achieved.
The like memorandum on the Fiduciary Duty that we’re signed in on the 3rd February, which stated:
“Section 1. Department of Labor Review of Fiduciary Duty Rule. (a) You are directed to examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of
Americans to gain access to retirement information and financial advice. As part of this examination, you shall prepare an updated economic and legal analysis concerning the likely impact of the Fiduciary Duty Rule, which shall consider, among other things, the following:
(i) Whether the anticipated applicability of the Fiduciary Duty Rule has harmed or is likely to harm investors due to a reduction of Americans’ access to certain retirement savings offerings, retirement product structures, retirement savings information, or related financial advice;
(ii) Whether the anticipated applicability of the Fiduciary Duty Rule has resulted in dislocations or disruptions within the retirement services industry that may adversely affect investors or retirees; and
(iii) Whether the Fiduciary Duty Rule is likely to cause an increase in litigation, and an increase in the prices that investors and retirees must pay to gain access to retirement services” (White House – ‘MEMORANDUM FOR THE SECRETARY OF LABOR SUBJECT: Fiduciary Duty Rule’ – 3rd February 2017).
These here is simply put order where Trump is putting in place less legislation and regulation on banking sector where they trade financial instruments to costumers, the citizens and the ones beholden the retirement funds. These are now set in place in a way where the advice from bankers are put so they get legal advice they see fit for their situation and not for what the banks earn the most on each client. With the new legislation, the bankers can in general sell bad investment portfolios to costumers and gain massive fortunes on the bad investments. This is what the Koch Brothers wants to achieve through their PAC.
Than you have the other latest Executive order which state this:
“Section 1. Policy. It shall be the policy of my Administration to regulate the United States financial system in a manner consistent with the following principles of regulation, which shall be known as the Core Principles:
(a) empower Americans to make independent financial decisions and informed choices in the marketplace, save for retirement, and build individual wealth;
(b) prevent taxpayer-funded bailouts;
(c) foster economic growth and vibrant financial markets through more rigorous regulatory impact analysis that addresses systemic risk and market failures, such as moral hazard and information asymmetry;
(d) enable American companies to be competitive with foreign firms in domestic and foreign markets;
(e) advance American interests in international financial regulatory negotiations and meetings;
(f) make regulation efficient, effective, and appropriately tailored; and
(g) restore public accountability within Federal financial regulatory agencies and rationalize the Federal financial regulatory framework” (White House – ‘CORE PRINCIPLES FOR REGULATINGTHE UNITED STATES FINANCIAL SYSTEM’ – 3rd February 2017).
This is where you see that the business oriented President Trump has put in place two different sort of orders, with the outcome of deregulating the financial industry, the ones trading and selling financial advice to their costumer’s, the other where they are focused of giving the financial decisions directly to the companies. Hereby giving the full power of all instruments to the financial industry and their corporations, that instead of regulating the financial and fiscal regulations that could stop the economy from cracking; with none or lose regulation could give the enterprises a free will that could led them to bubbles. First it would give enormous souring profits, but after the bubble burst the recession and cause massive loses to all citizens who invested in speculative business.
Koch brothers are surely having a wish-list that is starting to be achieved as even coal-legislation has been mentioned to be voted in the U.S. Congress. Therefore the plans of the Freedom Partners and the steps to repeal the regulations of Obama will cease to exist. This is certainly to vanish the print of legislation that we’re for common good and not only for corporate greed.
Step two of the Wish-list of the Koch Brothers we’re these:
“STEP 2. LONGER-TERM OPPORTUNITIES
All other regulations passed before June 13, 2016 can be repealed in at least one of three ways.
The Koch brothers with their plans are certainly set into plan or has least showed to the transitional team, as the legislation for certain aspects are put into action. So the plans to achieve their needed lesser legislation and lassies-faire economy are surely on their way. They have already started and the Freedom Partners PAC is effective. What the world should wonder about, what the PAC gave the Trump Administration since they are obliging them so magnificently. Secondly, what did the PAC to do the Republican Congressmen and Senators to gain their votes and get them to enact bills that they want to see?
We can question the power of the Koch Brother can be shown here, as the Republican have succumbed to the will of donors, instead of caring of the U.S. people wish to see. That can be seen as the legislation of late is friendlier of corporations than of the will of people. This will continue under businessman Trump and his running mates in cabinet. Trump Administration might deliver on more of this list of the Koch brothers. As they have started already. This can only indicate what the Trump administration will continue to strive towards as their ally and friendly future donor might want more legislation to pass or to be repealed to secure vast fortunes. Peace.