Can Donald Trump be Wall Street’s Most Unlikely Savior?
By William D. Cohan
On February 3, Donald Trump convened a long-awaited, and not entirely un-controversial, meeting of his high-powered Strategy and Policy Forum in the State Dining Room of the White House. It had been a wild first two weeks in the White House—a fortnight replete with Trump’s botched immigration executive order, protests at airports across the country, “alternative facts,” and the world’s introduction to the delights of Sean Spicer. …According to Federal Financial Analytics Inc., the six largest U.S. banks by assets spent $70.2 billion in 2013 on regulatory compliance, nearly double what they collectively spent in 2007—and that is on top of the more than $200 billion in fines and penalties that federal and state prosecutors, as well as regulators, have extracted from shareholders of Wall Street banks for their role in causing the financial crisis.