Trump Victory in the Republican Primary Message Board

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Politics : Trump Victory in the Republican Primary

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From: bentway	5/22/2016 10:47:40 AM
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Donald Trump is becoming Wall Street’s best friend Trump gets friendlier toward Wall Street By Rick Newman May 18, 2016 11:23 AM The smart money on Wall Street bet on Jeb Bush, Scott Walker and Marco Rubio to be the Republican nominee in the 2016 presidential election -- and came up empty. A month ago, it looked like the best bet for Wall Streeters hoping to back a candidate might be Democrat Hillary Clinton. 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. [....] Trump has established a cover story for flip-flopping, saying it’s important to remain “flexible” when negotiating deals and explaining that his thinking on some key issues is “evolving.” Voters might buy that, given Trump’s force of personality. Or, they might conclude that Trump is like every other politician, saying whatever necessary to pull in money and appease voters. At least Wall Street has finally found a horse worth betting on. more at finance.yahoo.com

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