"Dodd Frank is a disaster" said President Trump, on the law Obama signed into law in 2010, named partly after Connecticut native, and Democrat, Chris Dodd, and Barney Frank, a Harvard Law School alumnus and also a Democrat.
Swap Execution Facilities (or SEFs) came about as a direct result of the Dodd-Frank Act.
The market response has been positive.
Goldman stock rose 4.2% (NYSE:GS) and Bank of America 2.5% (NYSE:BAC). This is despite the stocks having very similar betas of 1.5 and 1.47 respectively.
Gary Cohn, formerly Chief Operating Officer of Goldman Sachs, former options dealer and now chief economic advisor to Donald Trump, waxed lyrical to the Wall Street Journal regarding the move.
Swap Execution Facilities (or SEFs) came about as a direct result of the Dodd-Frank Act.
The market response has been positive.
Goldman stock rose 4.2% (NYSE:GS) and Bank of America 2.5% (NYSE:BAC). This is despite the stocks having very similar betas of 1.5 and 1.47 respectively.
Gary Cohn, formerly Chief Operating Officer of Goldman Sachs, former options dealer and now chief economic advisor to Donald Trump, waxed lyrical to the Wall Street Journal regarding the move.
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