European Central Bank Head Warns on Trump Deregulation Push
The head of the European Central Bank expressed concern about the Trump administration’s moves to relax financial oversight, saying such deregulation helped pave the way for the global financial crisis. During a hearing in the European Parliament, ECB President Mario Draghi was asked about Trump’s efforts to revisit parts of the Dodd-Frank regulations aimed at keeping risk-taking banks from sparking a repeat of the 2007-9 financial turbulence that launched the Great Recession. “Frankly, I don’t see any reason to relax the current regulatory stance which has produced a much, much stronger banking – and, generally, financial services – …