Jim Millstein Says Financial Guardrails Will Survive Trump Purge

Despite chatter around the prospects of financial deregulation, it’s unlikely President-elect Donald Trump will leave the financial sector vulnerable to further financial crises by firing too many officials, according to Guggenheim Securities Co-Chair Jim Millstein.

“There could be a wholesale slaughter of regulators at all levels under the Trump administration — I doubt it,” Millstein said in an interview on Bloomberg Television. “I think people understand that we don’t want to get so deregulated” to risk a repeat of the mistakes that led to the 2008 financial crisis.

Much of the US financial sector is eyeing a regulatory reprieve ...