(New York) Is the stock market experiencing the proverbial “Canary-in-the-Coalmine ?” We have seen extreme “volatility” in all of 2018, since the major DOW downdraft, sell-off in January 2018.
Now, bellweather tech stocks, Facebook, Apple, Netflix and Google have been sold-off heavily in the last month, killing off much of the gains 401K and IRA investors have enjoyed in the run-up of the Stock Market since the Trump election of November, 2016.
Scaring the Markets ? Today, Maxine Waters (DEM/ Calif) announced that “Banks will not be given the free ride” as they have had in the last two years, as she prepares to take over the Chairperson position of the powerful House Financial Services Committee.
Maxine Waters says easing banking regulations ‘will come to an end’ when she takes committee chair.
- Rep. Maxine Waters pledged Wednesday that Trump administration efforts to roll back banking reforms won’t stand when the new Congress convenes.
- The California Democrat is expected to take over as chair of the House Financial Services Committee.
- “Make no mistake, come January, in this committee the days of this committee weakening regulations and putting our economy once again at risk of another financial crisis will come to an end,” Waters said during a hearing with Randal Quarles, the Fed’s vice chair of banking supervision.