Summary
Trump’s team is considering abolishing key banking regulators, including the FDIC and OCC, with plans to consolidate their functions under the Treasury Department.
Critics warn this could undermine public trust in banking, weaken deposit insurance protections, and risk another financial crisis.
The FDIC, established during the Great Depression, played a crucial role in managing the 2023 banking crisis.
Trump allies, backed by financial industry donors, are also targeting other consumer protections, reflecting sweeping deregulatory ambitions tied to Project 2025’s proposals.
Experts fear these moves could destabilize the economy.
Sort of. 2008 happened because new financial products called CDOs allowed shit loans to be turned into gold, and people insured that gold.
More regulation may have helped, but there was a very specific cause.