This is John Batchel, a conversation with my colleague, Elizabeth Peake of the Hill and Fox News,

on the origin, the source, the driver for the rally that's obvious in the markets in the United States.

What is the excitement?

And I mentioned to Liz that the FTC is no longer going to break up Google,

that the Secretary of the Treasury and indeed the TreasuryTC is no longer going to break up Google, that the Secretary of the Treasury and, indeed, the Treasury Department,

is no longer signing up around the world for a global tax,

that in fact all of the regulation that was concerning to the banks has gone away,

or at least be limited in the future by what you'd say is a more normal approach

to bank safety, perhaps.

But right now, the fact that what was is not coming back is enough for the rally.

More of this later.

Yeah, I think, you know what?

You raise a very good point.

This is why markets have been until recently cheering because the blight of overregulation

and going forward higher taxes because Kamala Harris wanted to raise corporate taxes is being relieved.

And I think investors are very happy to see that.

Big Pharma.