Trump May Ax Volcker Rule, Ease Banks’ Burden First, Whalen Says
- Analyst cites person close to Trump circle in note to clients
- ‘The financial services industry would be very supportive’
Dino Kos: Dodd-Frank Is the Law of the Land
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Tax and health-care reform are so formidable that Donald Trump is more likely to focus first on the financial industry, potentially ripping up core parts of the 2010 Dodd-Frank Act, according to Christopher Whalen, the veteran Wall Street analyst.
The president-elect could seek to modify legislation introduced this year by House Financial Services Chairman Jeb Hensarling, Whalen told clients in a note Wednesday, citing an unidentified person close to Trump’s circle. Whalen oversees research at the Kroll Bond Rating Agency and, in past years, wrote frequent columns for Breitbart News.