Though the president is likely to be out of office for the next four years, he can still affect policy by his appointments before January. He’s just got to get them confirmed by the Senate, quickly. One of them could have a major effect on banking and financial policies.
— @oldskoolMP (@Iamwoke12) November 17, 2020
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Newsmax: “President Donald Trump signaled he intends to nominate the acting Comptroller of the Currency to a new five-year term, potentially complicating plans a Biden administration would have to impose tougher regulations on Wall Street banks. In a Tuesday statement, the White House said it intends to submit Brian Brooks’ name to the Senate for confirmation. The highly unusual move — coming just weeks before what’s likely the end of Trump’s time in office — could force Joe Biden to rely on never-used legal authority to try to remove Brooks and replace him with a more aggressive watchdog. Though the Office of the Comptroller of the Currency is a division of the Treasury Department, it’s outside of the Treasury secretary’s direct control. Still, the law says a comptroller can be ousted by the president ‘upon reasons to be communicated by him to the Senate’ — a power that’s gone untested.”
Many of the serious regulations for banks and financial institutions are developed and approved between the Federal Reserve, Federal Deposit Insurance Corp. and the OCC. Having Trump appointees running any of those agencies could put a wrench in any Biden plans to let authoritarian socialists run amok in the banking industry.
This is part of a larger plan of the Trump administration to booby trap as many areas of government as it can to at least slow down the Biden campaign to destroy the economy by onerous regulations and wild spending schemes. If the president can hamstring enough offices, then he’ll achieve the difficult task of affecting policy while out of office. He’s already done it to an amazingly successful degree with the Supreme Court. Let’s see if he can duplicate that success elsewhere.
There is one rub. The Biden administration will be filled with miscreants and anti-constitutionalists. What if they, covered by the media, just refuse to obey the Supreme Court and other remaining conservative power centers? Then, things could get very real very soon.