> Foreign companies and pooled investment vehicles (such as mutual funds or hedge funds) must still report information about foreign owners. But they will no longer have to identify Americans who help them register to do business in the United States, according to a Treasury Department advisory.
> And Treasury will delete any information it has already collected about U.S. business owners, the advisory said.
I mean this is literally an invitation to use "bagmen" with a US passport to hold interest / investments in the US. The part about deleting already collected data is also pretty crazy.
Bessent, Trump and crew were born and often got rich before modern laws like credit act and such. Their sensory experience is being untouchable white guys providing cover for bad guys. Trump isn't commonly associated with money laundering for no reason.
They're dismantling white collar crime tools which were bad enough as is while installing license plate readers to track blue collar folks buying weed.
They’re just trying to recapture their own personal glory days and don't care who else it fucks over.
Stephen Miller even gloats about being like the power mongers of history who just took what they want.
The fact that this is getting such little traction in comparison to a very related post yesterday is funny:
- The US tried to stop cartel money-laundering; devastated mom-and-pop businesses: https://www.theguardian.com/us-news/2026/aug/11/us-mexico-border-area-money-transfer-rule-change-small-businesses
- Comments: https://news.ycombinator.com/item?id=49258970
Left-hand, right-hand problem? Or lying through their teeth regarding the justifications for this relaxation of regulations?
> Or lying through their teeth regarding the justifications for this relaxation of regulations?
It's this. The purpose of getting rid of regulations is to help further entrench oligopoly and benefit large corporations and the very wealthy. The purpose is certainly not to benefit our country or the citizenry.
> Foreign companies and pooled investment vehicles (such as mutual funds or hedge funds) must still report information about foreign owners. But they will no longer have to identify Americans who help them register to do business in the United States, according to a Treasury Department advisory.
> And Treasury will delete any information it has already collected about U.S. business owners, the advisory said.
I mean this is literally an invitation to use "bagmen" with a US passport to hold interest / investments in the US. The part about deleting already collected data is also pretty crazy.
The while point is hide their mafioso ways.
Bessent, Trump and crew were born and often got rich before modern laws like credit act and such. Their sensory experience is being untouchable white guys providing cover for bad guys. Trump isn't commonly associated with money laundering for no reason.
They're dismantling white collar crime tools which were bad enough as is while installing license plate readers to track blue collar folks buying weed.
They’re just trying to recapture their own personal glory days and don't care who else it fucks over.
Stephen Miller even gloats about being like the power mongers of history who just took what they want.
The fact that this is getting such little traction in comparison to a very related post yesterday is funny:
Left-hand, right-hand problem? Or lying through their teeth regarding the justifications for this relaxation of regulations?> Or lying through their teeth regarding the justifications for this relaxation of regulations?
It's this. The purpose of getting rid of regulations is to help further entrench oligopoly and benefit large corporations and the very wealthy. The purpose is certainly not to benefit our country or the citizenry.
https://archive.today/DybiV