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The Bulwark Podcast

Edward Luce: Why Big Business Is Caving to Trump

The Bulwark Podcast

The Bulwark

Politics, News, News Commentary

4.68.9K Ratings

🗓️ 26 January 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Tax cuts and a gutted regulatory state are a big draw for Wall Street. But under a Trump 2.0, it would be the aspiring monopolists—not the publicly-traded "corporatists"—who would be the winners. Democracy isn't the only thing on the line. Ed Luce joins Charlie Sykes for the weekend pod.

show notes:

https://www.ft.com/content/8fbf3a47-f622-46cc-ac06-17732cecc313

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Bullwork Podcast. I'm Charlie Sykes. One of the most interesting pieces that I read this week was in the Financial Times with a headline,

0:16.0

Wall Street's Bargain with Trump. And again, this is in the Financial Times,

0:21.0

and it begins with this paragraph. The Financial Times, same publication,

0:27.0

had only nice things to say about Benito Mussolini in a June 1933 supplement entitled,

0:33.0

the Renaissance of Italy, fascism, gift of order and progress,

0:37.0

trains were running on time,

0:39.0

investment was humming, and friction between capital and labor was a thing of the past. The country had been remodeled rather

0:44.6

than remade under the vigorous architecture of its illustrious Prime Minister,

0:48.4

Signior Mussolini wrote the F.T.'s special correspondent.

0:53.0

And that was written by F.T's Financial Times, U.S. National Editor and columnist at the Financial Times,

1:00.0

Ed Luce.

1:02.0

Ed, welcome to the podcast.

1:03.6

Charlie, it's a delight to be with you.

1:05.6

That's what any of your editors say, really, hey, thank you, Ed, for reminding us of our history.

1:11.4

I mean...

1:12.4

It was ominous silence from my editors. Nobody objected to me including

1:16.9

that, but it wasn't the most glorious chapter of the Financial Times, the prism through which we see the world, let's put it that way.

1:26.2

Well, you connect the dots to say that what's happening right now is also a reminder that it is incredibly

1:31.5

naive to assume that the Titans of business are going to be

1:35.9

bulwarks of democracy.

1:37.6

I mean this was, I think one of the fondest fantasies of the resistance for some time was that the financial leads to Wall Street would, in our

1:46.2

moment of peril, would mount the barricades to defend democracy and our culture, and that was always

...

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