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Trump’s First Act: Big Giveaway to Wall Street Elite

WASHINGTON - Immediately after he was sworn in as America’s 45th President on Friday, Donald J. Trump signed a series of executive orders, including the rollback of a Federal Housing Authority insurance premium cut.

Liz Ryan Murray, policy director for People’s Action, a national progressive grassroots advocacy organization, issued the following statement.

“Donald Trump's inaugural speech proclaimed he will govern for the people, instead of the political elite. But minutes after giving this speech, he gave Wall Street a big gift at the expense of everyday people. Trump’s executive order takes an axe to nearly $500 a year in savings for many middle income families. But it will be a windfall for Wall Street.

“Trump may talk a populist game, but policies like this make life better for hedge fund managers and big bankers like his nominee for Treasury, Steven Mnuchin, not for everyday people. In fact, Trump has a veritable stable of hedge fund managers, including top Trump donor John Paulson, who got rich by scamming American homeowners. Americans want their government to support them and their families, to help chip away at income and wealth inequality – not work to widen it.”

Liz Ryan Murray has working on housing policy for over a decade. She played a key role in New Bottom Line, a group formed in the wake of the 2007-2008 housing crisis that advocated for principal reduction to help struggling homeowners.

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