Wall Street Thinks Trump’s All Talk When It Comes to Breaking Up Banks
- Bankers expect to get rules changed on Volcker, stress tests
- ‘21st century’ Glass-Steagall may not be what it sounds like
Trump Says He's Considering Breaking Up Big Banks
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On the first day of May, Donald Trump sat in the Oval Office and declared that his administration was taking a look at breaking up Wall Street’s biggest banks. If they ever took him seriously, it didn’t last.
Instead of cowering, Wall Street executives and lobbyists are crowing, getting more confident about ditching rules that have annoyed them for years. That’s because the Trump administration is appointing friendly regulators and signaling it will make life easier for bankers.