Wall Street banks brace for ‘political theater’ as Democrats return to power—but few expect major change anytime soon

The giant blue wave that swept Congress this week has left Democrats in a celebratory mood. The vibe on Wall Street, however, is less upbeat as lawmakers like Sen. Elizabeth Warren (D-MA), who have expressed pointed hostility towards the financial industry, prepare to wield oversight power. This would seem to bode ill for behemoths like JPMorgan, Goldman Sachs and Morgan Stanley . But the banks can take comfort in the view of analysts and legal experts, who say that the fallout from the mid-term election is likely to amount to little more than “political theater” and public shaming—at least for…

Source: Fortune Crypto