Bankers on Wall Street are most concerned about making money. Politicians like Bernie Sanders and Elizabeth Warren scare them. Donald Trump has treated them well. Early on in his presidency he moved to roll back financial regulation.
That was before the market saw a drastic drop thanks to fears over the Coronavirus. During a recent interview with Mediate, Fox Business’ Charles Gasparino said that bankers now see a blue wave coming amidst the market turmoil.
The Fox contributor explained, “Some of this fear [driving down the market] is that the Democrats are now going to sweep. They’re going to keep the House, they’re going to take the Senate, and Trump’s going to lose.”
Gasparino advised, “We need to give loans to small businesses and individuals that don’t have access to cash. There are people who need checks. And that’s where, in hard hit industries, or hard hit sectors of the economy — like restaurants and things of that nature — there needs to be one of these liquidity bail outs immediately. Or at least get the ball rolling. Because that’s where the economy can go down real hard, real fast.”
When asked about what Wall St. wants to see from Trump, Gasparino replied, “I think first and foremost, they want him to act like an adult. Now’s not the time to beat up on Jerome Powell. Or calling Joe Biden ‘sleepy Joe.’ It’s stupid for him to say these childish things in such a serious time. They need to ratchet that down. I think he’s doing some of that. I saw the press conference [Monday]. He was much more mature.”
You can read the entire interview with the Fox Business host here