Summary
Robert Reich argues that Wall Street, not political or institutional checks, will be the primary constraint on Donald Trump’s upcoming presidency.
While Trump’s cabinet includes disruptive figures like RFK Jr. and Pete Hegseth, his pick for Treasury Secretary, Scott Bessent, a hedge fund manager tied to Wall Street, signals an intent to reassure financial markets.
Wall Street’s fear of inflation and stock market instability could curb Trump’s tariff plans, despite their populist appeal.
Ultimately, Reich criticizes the reliance on markets, rather than democratic mechanisms, to limit Trump’s power.
He hired a top investor for their ultimate boogeyman, George Soros… The lesson to take is once you give a narcissist what he wants that is the end of your usefulness and your opinion being honored is no longer a means to an end. This important lesson will be unlearned in less than 4 years.