Statement on President Trump’s Financial Regulation Executive Order
Statement from Competitive Enterprise Institute’s Iain Murray on President Trump’s Executive Order concerning regulating the financial system:
“CEI welcomes today’s executive order from the Trump Administration on core principles for regulating the American financial system. It reminds us that the financial system exists to benefit Americans by providing investment opportunities to grow our wealth and make it work for us, however little we may have to start with.
“Current financial regulation proceeds from the warped idea that the financial system exists to exploit us and steal our wealth. It does not. It is an essential part of America’s free enterprise system. It enables us not just to bank our money, but get access to credit when we need it and to provide capital for other Americans to work with.
“Current financial regulation frustrates these ends. It needs to be redesigned to get the system moving again. Too many Americans have been stopped from getting the financial services they need since the financial crisis. If the administration is successful in redrawing the rules according to these principles America’s people and businesses will flourish financially once again.”