Donald Trump has fired the starting gun on his efforts to take the post-crisis shackles off Wall Street by ordering the review of a landmark 2010 financial reform law, a move that triggered warnings from the left of a new crash in the making.
Mr Trump’s push to overhaul the Dodd-Frank legislation, which includes prohibitions on financial institutions trading for their own benefit, heralds the biggest regulatory shake-up in six years and sent bank shares sharply higher.
But the move carries political risks. The president demonised Wall Street, including Goldman Sachs, during his election campaign but is relying on former Goldman bankers, particularly National Economic Council chairman Gary Cohn, to craft changes likely to boost bank profits.
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