A Wall Street giddy over Trump should remember history

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Financial Times 6d ago

A Wall Street giddy over Trump should remember history - Financial Times

Quick Summary:

The resulting upheaval became a justification for Barr’s “Basel III endgame” proposal to boost capital requirements that the industry has just spent more than a year fending off.

Optimists say that clearing away unnecessary strictures will stimulate growth by making it easier for banks to lend and for investment firms to channel savings into badly needed infrastructure and innovation.

Pitt, who promised a “kinder, gentler” style, scrubbed a planned report and convened a private meeting with the big banks where he urged them to address the conflicts of interest.