Home Politics Donald Trump is Becoming Wall Street’s Best Friend

Donald Trump is Becoming Wall Street’s Best Friend


By Rick Newman, Yahoo Finance -…..But now, Donald Trump seems to be evolving his way into Wall Street’s favor. He recently hired a former Goldman Sachs banker to head his fundraising effort, including outreach to billionaire hedge-fund managers. Trump formalized a plan with the Republican National Committee to raise large sums from donors able to write six-figure checks, and he appears ready to reverse an earlier pledge and accept support from super PACs able to corral millions in funding from rich donors.

His views toward Wall Street seem to be changing at the same time he’s hearing out wealthy Wall Street donors. Trump recently said that dismantling the Dodd-Frank banking reforms put in place after the 2008 financial crash would be one of his top priorities as president. That’s manna for bankers: Those rules were supposed to reduce risk in the banking system and prevent the need for future bailouts, but bank honchos complain they’ve slashed lending and profitability. And after saying he’d likely get rid of Federal Reserve Chair Janet Yellen, whose dovish bent is generally good for stocks, Trump has now softened his attitude, saying, “I am not the enemy of Janet Yellen.” Those are bullish words for markets….
Read the full story at Yahoo Finance.