WASHINGTON - A potential Democratic administration led by Vice President Kamala Harris would likely advance President Joe Biden's agenda of tough financial rules, an unwelcome prospect for Wall Street banks, crypto companies and other players that have chafed under the current administration.
A spokesperson for Harris did not immediately provide comment on her potential agenda on financial regulation. On Monday, investors unwound some of the so-called Trump-bond market trades that had bet on a Trump victory, "but he’s still the favorite," said Paul Mielczarski, head of macro strategy at Brandywine Global.Harris rose to prominence as the attorney general of California, where she took a tough hand with big banks.
"Wall Street greed and abuse crashed our economy in 2008. I will fight against any legislation to deregulate the Big Banks," Harris posted on X, then Twitter, as the negotiations heated up.