Trump Turnaround: Wall Street Forgives and Forgets

The transcript discusses the rapid shift in sentiment among Wall Street bankers following Donald Trump's election. Initially upset by Clinton's loss, bankers quickly embraced Trump's presidency, anticipating tax cuts and deregulation. The discussion highlights the distinction between Trump's policies for big banks versus community banks and the inclusion of Goldman Sachs veterans in Trump's transition team. The conversation also explores market reactions and the potential impact of regulatory changes, particularly concerning the Federal Reserve and Wall Street's influence.

How did Wall Street bankers initially react to Trump's election victory?

• They were consistently pessimistic.

• They remained neutral throughout.

• They were consistently optimistic.

• They were initially upset but quickly became optimistic.

What was a key reason for Wall Street's optimism about Trump's presidency?

• Increased regulation of big banks.

• Support for regional banks only.

• Potential tax cuts and deregulation.

• A focus on international banking.

Which financial institution had several veterans included in Trump's transition team?

• Goldman Sachs

• Wells Fargo

• JP Morgan

• Bank of America

What role did Dan Tarullo play at the Federal Reserve that was significant to Wall Street?

• He focused on international banking policies.

• He was a proponent of deregulation.

• He was known for his thorough regulation of big banks.

• He advocated for increased interest rates.

What potential change at the Federal Reserve could lead to Wall Street's rejoicing?

• Appointment of someone sympathetic to big banks.

• Abolishment of the Dodd-Frank Act.

• Appointment of a pro-regulation official.

• Increase in interest rates.