How much influence does the congress have on addressing the finanical regulation of lending institutions?
Traveler asked:
Can the President not take control of issues like regulation of bank lending practices when the congress is a opposite party majority?
Can the President not take control of issues like regulation of bank lending practices when the congress is a opposite party majority?
The president can influence; but he has no control. The fed has control over monetary supply; but Congress can enact laws can undermine any type of fiscal control. If one party has a majority, then veto’s can even be overridden. Such was the case recently with the Fannie & Freddie disaster.
Under our system of government, the president cannot seize control of any issue. The president can ask for or veto laws and enforces the law passed by the legislative branch.