of the oxygen in the room, where does tax reform stand. i think it is still a high rhode islandority for the president high priority for the president. maria: we ll get back to kevin brady in a moment. we talked with director of white house, about the reforms last week, listen to what gary coen said he is working on. first thing we re going to attack is regulation over regulation. it is not just in financial market, it is in all markets, you will see the beginning of some of our execkive act to roll back regulation in financial service market. maria: where are the most onerous regulations, since dodd-frank was signed into law, we talked about the
went to market with these plans because he wanted people to be on the same page. i think this administration will have to work a little bit harder to get more people on the same page when they roll these with the executive order, you re showing what the president thinks on a particular order and he s trying to roll back regulation, trying to keep a campaign promise that he met. but in each case, really helps for an administration to be prepared for the possible pushback and to have agencies and others on your side. also, i want to bring it back up to today as we re looking at, you know, various executive orders. to what the president said in an interview, just aired on fox news, it was filmed on friday, but just seeing some of it. and this answer, listen to this, was some detail on his immigration policies with mexico. and we ll play that. we have to do something about the cartels. i did talk to him about it. i want to help him with it. i think he s a good man.
beginning the unraveling of dodd-frank, if you will. he is now on his way to what he called the winter white house down at mar-a-lago. senator reid, are you still with me? yes, craig. let s talk about what we heard from the president. we are not sure who that woman was standing next to him. the idea that rolling back regulation is about middle income investors and about main street. what say you to that? well, dodd-frank was legislation that was enacted to correct some of the credible shortfalls of wall street during the 2008-2009 period. without those corrections, we he would n we would not be in the economic situation where we see growth. the job numbers of 200,000. there are strengths that are necessary against large
a renewed sense of optimism around cutting back regulation could open up the opportunity for small businesses to grow. and back to banks, with banks being able to lend more, they will in fact be able to elected to small businesses. now, on the other hand, these are promises that president trump has made but the devil is in the details and it all remains to be seen how it works out, in terms of small businesses, what areas? if you re talking about retail, for example, it s not an issue whether it s a big one or a small company. people don t want to pay retail anymore. margins have shrunk. manufacturing takes place overseas. if you re a small business person, it s hard to lead that business. if you look at the markets these days, you re starting to see some sentiment, a little slowdown saying hold on a second, president trump has promised a lot, let s see how it all turns out. in terms of regulation, you have to see how it all gets signed. maybe we ll get rid of the
do great things, it seems to be working even though they are promises. it s terrific. what s really happening in the markets is pe expansion, price earnings ratio expansion. the fact is we re very open optimistic now but earnings estimates have not changed, remain the same. they are very open ttimistiopti. in order for that to happen, trump is going to have to deliver on the deregulation of the financial services industry, that s number one in terms of market cap increase. small cap, large cap banks, 25% run in the last 16 weeks. that s extraordinary unprecedented. the other area is energy. earnings estimates for energy companies have skyrocketed with the assumption he ll pull back regulation. if any of that gets delayed, there s risk in the market. here s how i m playing it and looking at what trump is doing. i m putting more money into the russell 2,000 with the very simple basic idea.