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By Pam Martens and Russ Martens: December 28, 2020 ~ Following the financial crisis of 2007 to 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law on July 21, 2010. At the time, Democrats controlled both houses of Congress and could have put teeth into the law, had they chosen to do so. The Act did not reform Wall Street nor did it protect American consumers from the looting practices of the Wall Street banks. Dodd-Frank allowed Wall Street’s private justice system to continue, where both customers and employees must waive their rights to bring claims in a court of law; it allowed Wall Street banks to continue using depositors’ money to make wild gambles in derivatives; it permitted Wall Street banks to continue buying triple-A credit ratings from the ratings agencies for dodgy securitized products; it allowed the very same banks that blew … Continue reading