Republicans Will Have a Long Rule

Joel Ross

The Republicans swept this election from local races, to state houses and governors to all of Washington. Senators Chuck Schumer and Elizabeth Warren may think they can block many of the reforms that Trump has in mind, but the Republicans will simply use the same nuclear option as the Democrats did to get judges approved and Obamacare. They warned Harry Reid not to do it, but as usual, Harry did the stupid thing, and now the Republicans will do what they promised him, they will use the same tactics. Obamacare will get replaced, and just because Trump said he would keep pre-existing and child to 26 years old rules, does not mean the rest of the law will not be obliterated. Supreme Court nominees will be fought by the left wing no matter who is nominated. Elizabeth Warren foolishly thinks she can demand Trump change his mind or that she can fight him to the death. She loses every time. We will have a conservative, business-friendly, strict constructionist judge. Sessions will be confirmed no matter what the left and press do to try to slander him. He actually has a very good record.

Most importantly, Dodd-Frank will get materially amended, and no matter what the Schumer/Warren group say, it will happen if only through a reconciliation vote. Democrats seem to not understand they got creamed and it was their policies that people voted against. This set of changes will be very good for CRE as the banks will cease to be government controlled utilities, and will go back to making loans. It will not be anything like the wild days of 2006-07, but not severely constrained as it now is. Democrats and especially Warren and her cohort will be apopleptic as will the press who have no understanding of anything to do with banking. Expect the press to go into hyper overdrive as these things are rammed through. The good news about Trump is I expect he will blast ahead regardless of what the press says. Dodd Frank needs to be amended and it will be.