Trump bill Dodd Frank v2 Saul Loeb/Getty Images

جعل الأزمات عظيمة مرة أخرى

كمبريدج ــ كانت المناظرات حول التنظيم المالي أكثر ميلا إلى التركيز على الكم وليس الكيف. ولكن "الأكثر في مقابل الأقل" ليس القضية الأساسية هنا. وعندما يتعلق الأمر بالإصلاح المالي في الولايات المتحدة، فمن غير المرجح أن يحصل الرئيس دونالد ترامب على التفاصيل على النحو السليم.

في وقت سابق من هذا الشهر، أصدر ترامب أمرا تنفيذيا يقضي بإجراء مراجعة شاملة لتشريع الإصلاح المالي دود-فرانك لعام 2010. ويتلخص هدف الإدارة في تقليص حجم الجهاز التنظيمي الذي بدأ العمل به في الاستجابة للأزمة المالية في عام 2008. وهي خطوة محفوفة بالمخاطر.

الواقع أن الملامح الرئيسية في تشريع دود-فرانك ــ مثل زيادة متطلبات رأس المال للبنوك، وتأسيس مكتب الحماية المالية للمستهلك، وتحديد المؤسسات المالية التي تتسم بأهمية جهازية، وفرض اختبارات إجهاد أكثر صرامة على البنوك، وتعزيز شفافية المشتقات المالية ــ عملت على تعزيز النظام المالي إلى حد كبير. وتقويض أو إلغاء هذا التشريع من شأنه أن يزيد إلى حد كبير من خطر تكرار أزمة 2007-2008 المالية في نهاية المطاف.

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