Scaramucci began by noting, " They see a cleaning of the status quo in Washington. They see a disruption of this tidal wave of regulation...not to zero or no regulation...just more balanced regulation that will create more growth and more economic opportunity."
They see a simplification of the tax code. We know that we have to reform the tax code every generation. Every generation needs to take a cut at the code...what the Wall Street guys see is a simplification, they see the corporate tax rate which is the highest in the world getting more organized and more competitive."
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
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