[Peace-discuss] Reassurance from the Giant Vampire Squid

[Szoke, Ron]

Trump won’t be a ‘dangerous’ president, says Goldman’s CEO <https://urldefense.proofpoint.com/v2/url?u=http-3A__www.marketwatch.com_story_trump-2Dwont-2Dbe-2Da-2Ddangerous-2Dpresident-2Dsays-2Dgoldmans-2Dceo-2D2016-2D12-2D08&d=DQMFaQ&c=8hUWFZcy2Z-Za5rBPlktOQ&r=fGIr6vLkM3RjLA5Q2LHaloaWOwtjSSJCQLnc4RCWw2E&m=JRRb4SCJFvpBwgpLCdRhKrPiENZzrxWnFhhWbrVsdsc&s=H3FZYsB70qb2b2dnCGlUiW7HSRhrcNQUoMdV78-iYvI&e=>

Fears about a Donald Trump presidency<http://www.marketwatch.com/president-donald-trump> may be misplaced, according to Goldman Sachs Group CEO Lloyd Blankfein in an interview published in the German newspaper Handelsblatt.

Blankfein, head of the world’s most prominent investment bank, said Trump would be a level-headed leader despite his controversial anti-immigration rhetoric and his protectionist stance on trade policies. Trump has proposed building a wall along the U.S.-Mexico border and has discussed banning Muslims from entering the U.S.

Read: Goldman Sachs is the big Dow winner of the Trump rally<http://www.marketwatch.com/story/goldman-sachs-is-the-big-dow-winner-of-the-trump-rally-2016-12-02>

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Still, he gets a thumbs up from Goldman’s head.

“He’s a very smart guy, a businessman…I am not pessimistic at all because he won,” Blankfein told the paper<https://global.handelsblatt.com/breaking/goldmans-blankfein-trump-not-a-dangerous-president>. “Mr. Trump may turn out to be a much better president than anyone else might have been in that place,’’ he said. “He’s just less of a known quantity as a politician.”

Trump’s surprising Election Day victory sent initial shock waves throughout global markets, but since then equities have stormed higher, with the Dow Jones Industrial Average DJIA, +0.33%<http://www.marketwatch.com/investing/index/djia?mod=MW_story_quote>  on track to notch its 12th closing record since the election, and the S&P 500 SPX, +0.16%<http://www.marketwatch.com/investing/index/spx?mod=MW_story_quote>  Nasdaq Composite, small-cap focused Russell 2000 index RUT, +1.24%<http://www.marketwatch.com/investing/index/rut?mod=MW_story_quote>  and Dow Jones Transportation Average DJT, +0.37%<http://www.marketwatch.com/investing/index/djt?mod=MW_story_quote> considered a gauge of U.S. economic health, blazing a path to fresh all-time highs.

Read: Stock records signal that fighting the Trump rally is a losing battle<http://www.marketwatch.com/story/stock-markets-record-run-signals-its-a-fools-errand-to-fight-trump-rally-2016-12-07>

For Goldman’s part, the giant investment bank has been one of the biggest beneficiaries of the recent surge in markets. Since the presidential election, Goldman’s shares GS, +2.27%<http://www.marketwatch.com/investing/stock/gs?mod=MW_story_quote>   have surged 33% to their highest levels since before the 2008, posting the biggest gains among the Dow’s components.

Check out: MarketWatch’s stock-market column<http://www.marketwatch.com/story/dow-sp-on-pace-to-hold-near-record-highs-as-ecb-grabs-spotlight-2016-12-08>

Moreover, Trump has handpicked a number of Goldman alum to be a part of his administration, including Steven Mnuchin<http://www.marketwatch.com/story/trump-to-tap-ex-goldman-sachs-banker-steven-mnuchin-as-treasury-secretary-2016-11-29>, who was tapped to serve as President-elect Trump’s Treasury secretary.

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Who is Steven Mnuchin, Trump’s Treasury pick?
(1:43)

President-elect Donald Trump turned to former Goldman Sachs banker and movie financier Steven Mnuchin to be the next Treasury secretary. WSJ’s Rick Carew takes a look at his background. Photo: Getty

Trump has proposed policies, including tax cuts and infrastructure spending, that are being viewed as pro-business by Wall Street investors and Mnuchin has expressed an interest in rolling back the Dodd-Frank Act, which was enacted in the wake of the financial crisis. Proponents of repealing parts of the rules argue that it has hobbled bank lending.

Talk of looser regulations is likely a boon for the finance sector and Goldman in particular.

— WSJ MarketWatch online 120816

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