Why do we have many federal regulations? They are designed to protect us, often from corporations taking advantage of you and me. My favorite example is the Consumer Financial Protection Bureau, created to protect us from stealing by financial institutions (as a result of 2008 crisis). It has recovered about $12 billion over the last seven years. That is not the amount financial institutions stole. It is only the amount they got caught stealing.
As a result, I am concerned about the Post-Dispatch’s story “SEC eases rules, putting investors at risk, some say” (Nov. 10): Yes, many honest corporations suffer from extra costs to comply with rules designed to protect you and me from the few dishonest competitors. President Donald Trump wants to weaken Securities and Exchange Commission rules and eliminate the Consumer Financial Protection Bureau to help corporations — at our expense. We will again be at the mercy of corporations.
I prefer the government protect my finances rather than corporations.
Martin Walsh • Glendale