As compared with the public markets, the private capital markets are like the wild west. I liken it to a frontier town where there’s no sheriff, plenty of gunslingers and news travels slowly by stagecoach.
Elections have consequences. The Tax Cuts and Jobs Act of 2017 was passed by the slimmest of margins in the Republican-controlled Senate and House through a budget reconciliation process that needed only a majority of votes to pass. We find ourselves now with the situation having flipped.