Lots of people think that a President Trump would more or less instantaneously wipe out about half of the stock market’s value. Not Carl Icahn. As Carl sees it, the only thing preventing CEOs from reinvesting in their businesses isn’t the fact that the Carl Icahns of the world are always demanding share buybacks and mergers and the like. No: It’s that they are afraid of “irrational” government regulations. And what could be more rational than a Trump administration?
“If you look ahead three years, this economy will be a lot better if Trump gets elected” rather than Democratic candidate Hillary Clinton, Icahn said, speaking at the CNBC “Delivering Alpha” event in New York….
Icahn expressed his frustration at U.S. regulators on Tuesday, specifically the Environmental Protection Agency which he says has neglected to speak to him about his concerns regarding ethanol blending requirements for the fuel refineries in his investment portfolio.
Icahn said that fear of “irrational” government regulations are a main reason why chief executives are not re-investing in their businesses and instead buying back stock. Trump would aim to reduce such regulations, Icahn said.
Also, presumably the EPA would be more willing to take phone calls from Treasury Secretary Icahn than mere citizen Icahn.