Feb 7, 2017

Big in Business: Trump vs the bureaucrats

Evan Vucci / AP

One force thwarting Donald Trump's plan to roll back financial regulations is the regulators themselves. The Wall Street Journal points out that Dodd Frank was written in such a way as to give broad powers to the SEC and the Federal Reserve to implement the law. Even in the case of the SEC—which is more likely to toe the President's line—the regulatory reform process is overseen by the judiciary, now brimming with Obama appointees.

Wall Street is hopeful: Even so, investors are hopeful that the new administration will be able to roll back financial regulations. After Donald Trump ordered an executive review of the Dodd-Frank financial reform law—with the aim of rolling it back, financial sector stocks rose more than 3%. One theory is that eased regulations might allow banks to return more capital to investors.

Greece will need another bailout: According to the International Monetary Fund—its fifth since the start of the debt crisis in 2010. There's no more potent symbol of the failure of the euro than this protracted slump, from which there are few signs of relief.

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Updates: George Floyd protests continue past curfews

Protesters on Tuesday evening by the metal fence recently erected outside the White House. Photo: Olivier Douliery/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued Tuesday night across the U.S. for the eighth consecutive day — prompting a federal response from the National Guard, Immigration and Customs Enforcement and Customs and Border Protection.

The latest: Protesters were still out en masse for mostly after curfews were in force in cities including Washington, D.C., New York City, Los Angeles and Portland — where police used pepper spray and flash bangs on a group throwing projectiles at them during an "unlawful assembly," per KATU. Portland police said this group was separate to the thousands of demonstrators who protested peacefully elsewhere in the city.

Primary elections test impact of protests, coronavirus on voting

Election official at a polling place at McKinley Technology High School in Washington, D.C. Photo: Drew Angerer/Getty Images

In the midst of a global pandemic and national protests over the death of George Floyd, eight states and the District of Columbia held primary elections on Tuesday.

Why it matters: Joe Biden, the presumptive Democratic nominee, needs to win 425 of the 479 delegates up for grabs in order to officially clinch the nomination. There are a number of key down-ballot races throughout the country as well, including a primary in Iowa that could determine the fate of Rep. Steve King (R-Iowa).

Iowa Rep. Steve King defeated in GOP primary

Rep. Steve King. Photo: Alex Wroblewski/Getty Images

State Sen. Randy Feenstra defeated incumbent Rep. Steve King in Tuesday's Republican primary for Iowa's 4th congressional district, according to the Cook Political Report.

Why it matters: King's history of racist remarks has made him one of the most controversial politicians in the country and a pariah within the Republican Party.