One of the good things about democracy is the various Secretary’s must come before House and Congress committees. One of the committees is the House Financial Services on International Financial System. Treasury Secretary Steven Mnuchin appeared before the committee for more than 3 hours.
The committee demonstrates while the President seems to only want to look inward, the world of finance is very global and needs many strong international committees to operate. Inward looking means someone has to pay attention to the rest of the world, where the US has taken a lead for many years. There are many regulations which help bring stability to the system and the term systemic risk is a term often heard. In the world of existing politics in Washington, the term bipartisan is often heard, which means both Democrats and Republicans need to work together.
In the committee. Mr. Mnuchin had to deal with insurance, banking, tariffs, international capital, income taxes (he looks after the IRS) and everything of concern to a group of House Representatives.
Linking to dividend paying stocks, many of the organizations and government committees the companies need to operate often come attack from deregulation, however they are important to operate to ensure regulations are followed. Life is a balance or a strive to find balance and as long as governments do not go too far one way or another, dividend paying companies should have regulation certainty and be able to worry about the competitors not the government.
Thee are more questions than answers, till the next time – to raising questions.