Pursuits
Trump Cites Friends to Say Banks Aren’t Making Loans. They Are.
- Lending has increased 6% a year since 2013 to $9.1 trillion
- Cohn claims on lending ‘simply false,’ Stanford’s Admati says
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As he prepared to sign orders designed to roll back bank regulations enacted to stop the next financial crisis, President Donald Trump said that the rules are stifling lending.
“We expect to be cutting a lot out of Dodd-Frank, because frankly I have so many people, friends of mine, that have nice businesses and they can’t borrow money,” Trump said on Friday. “They just can’t get any money because the banks just won’t let them borrow because of the rules and regulations in Dodd-Frank."