'I don't know how you couldn't be embarrassed': Wall Street is rethinking its Trump bet

[Dulcinea]

(Business Insider)-snip- "I don't know how you couldn't be embarrassed," a managing director at a middle market-focused investment bank told BI.

They were talking about the many soothsayers in Wall Street's C-suites who had bet that the new administration would revive a comatose dealmaking market. Things haven't quite worked out that way.

Goldman Sachs said that the paralyzed deal market dragged revenue from deal work down 22% in the first quarter, compared with the same period last year.

On every bank's Q1 earnings calls in recent days, one person loomed large: President Donald Trump.

https://finance.yahoo.com/news/dont-know-couldnt-embarrassed-wall-212645836.html?.tsrc=daily_mail&segment_id=DY_VTO_CORE_SINK&ncid=crm_19907-1202927-20250416-0-&bt_user_id=0CQF62jRqCf7Y3USHvhVIY1GfLCU4ZPJga00P1ZCHKnrkiSSEH2CONVa6%2FHy%2FNdZ&bt_ts=1744846084710

[tanyev]

1. I don't know how investment bankers could watch him in action for four years (2017-2021) and want to bring him back.

[hvn_nbr_2]

2. They had their 5 trillion reasons

They wanted their $5 trillion tax cut for billionaires. Greed blinded them.

[LymphocyteLover]

3. They could be crude and sexist again, say the R word

That's what one banker said. They are assholes.