‘It’s Not An Emperor-Has-No-Clothes Story, But…’ Fed Bank Buster Isn’t Sure About Former Colleagues

Earlier this year, bank stocks were delighted when Daniel Tarullo tendered his resignation to Donald Trump. Tarullo was a key figure in crafting the post-crisis financial regulations that sought to guard against another meltdown by keeping banks on a short leash. Tighter capital requirements, stress tests, and an effort to centralize regulatory authority in Washington are all part and parcel of his legacy. Needless to say, none of that made him a good fit for the Trump era, defined as it will