Summers Warns of Financial-Crisis Risk From Trump Economic Plans
- Financial deregulation would be ‘hugely dangerous,’ he says
- Ex-Obama adviser says stronger dollar would hurt exporters
Lawrence Summers.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Former U.S. Treasury Secretary Lawrence Summers attacked the policy proposals of Donald Trump on several fronts, saying the president-elect’s plans for deregulation were setting the stage for the next financial crisis.
“The deregulation in some areas like finance is hugely dangerous,” Summers said Sunday in an interview on Fox News Channel. “Who wants to go back to the era of predatory lending? Who wants to go back to the era of vastly over-levered banks?”