Feb 10, 2017

Top Wall Street lobbyist sees little hope for Dodd-Frank rollback

Financial Services Roundtable chief Tim Pawlenty told the Wall Street Journal Friday that he doesn't expect major changes to financial regulation, given the ability of Democrats to filibuster most changes.

Instead he is focusing on executive appointments to key regulatory positions like "second- and third-tier political appointees" at the Treasury and Labor Departments, and the head of the SEC. This mirrors what Trump economic advisor Gary Cohn put forward when announcing the administration's intent to reform the regulatory apparatus. "Personnel is policy," Cohn said.

The CFPB exception: The Journal reports that House Republicans have removed language from their latest reform proposal that would have changed the CFPB to a five-person bipartisan commission rather than a bureau headed by a single, powerful director. Pawlenty sees this change as a move that allows the bipartisan commission idea to be presented as a compromise to attract conservative Democrats.

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Updated 52 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 6,789,313 — Total deaths: 396,388 — Total recoveries — 2,784,210Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 1,906,060 — Total deaths: 109,305 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Education: Students and teachers flunked remote learning.
  4. Public health: Fauci: "Very concerned" about spread of coronavirus amid George Floyd protests — Cities offer free coronavirus testing for protesters.
  5. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy the software-as-a-service model as use of robots accelerates.
  6. Jobs: Better-than-expected jobs report boosts stock market.

Buffalo police officers arrested after shoving 75-year-old protester

Photo: Mike Desmond/WBFO via AP

Two Buffalo police officers were charged with assault on Saturday after a video emerged of them shoving a 75-year-old protester while clearing a demonstration in the wake of George Floyd's killing, AP reports, citing prosecutors.

The state of play: Both officers pleaded not guilty to second-degree assault, and were released without bail. After the law enforcement officers were initially suspended without pay on Friday, all 57 officers on the Buffalo Police Department's Emergency Response Team resigned in a show of support for their fellow officers' suspensions.

Humility for forecasters: Jobs shocker is record miss

President Trump speaking in the Rose Garden following the release of the jobs report on May 5, 2020. Photo: Jonathan Newton/The Washington Post via Getty Images

Economists were projecting that May's jobs figures would show a loss of 8 million jobs and an unemployment rate approaching 20% — Great Depression territory.

The state of play: Instead, a record 2.5 million workers were added, and unemployment fell to 13.3% from April's post-World War II high of 14.7%.