New York, NY -- (SBWIRE) -- 06/07/2017 -- William D. Cohan, a New York Times columnist, special correspondent for Vanity Fair, former contributor to Bloomberg View and the author of WHY WALL STREET MATTERS, THE LAST TYCOONS and HOUSE OF CARDS, joined Jason Hartman as a guest on the May 25 episode of the Creating Wealth show.
Hartman opened the discussion by asking Cohan his opinion on the outlook of a Trump Administration.
"With Donald Trump, you never quite know what you're going to get," Cohan said. "But I think when it comes to financial deregulation, it seems that Trump and Congress are talking about common ground."
Cohan doesn't feel it will be as contentious an issue as healthcare or tax reform will be.
"I suspect there will be some redesigning of financial regulation for Wall Street and for big financial institutions and small and medium sized banks as well that have been sort of begging for a relook at the regulations that are imposed upon them," Cohan said.
Cohan said before Dodd-Frank, there wasn't enough regulation, and with Dodd-Frank, there's too much.
"I think we need to take some of these restrictions off, clean out some of the sand that's been thrown in the gears of capital markets and the Wall Street machine, and get this thing humming again," Cohan said.
For Trump to be successful in revamping Dodd-Frank, Cohan said he must also place demands on Wall Street changing its incentive system so people are not rewarded for taking risks with other people's money.
Hartman asked Cohan for his economic predictions, particularly in the real estate markets. Cohan responded by saying interest rates are rising, and that's a good thing because they had been kept artificially low.
"Interest rates are a commodity," Cohan said. "The price of money is a commodity that is like any other commodity. It is driven by supply and demand."
Cohan also added that after the financial crisis, the Fed decided to move into the market in a big way by buying trillions of dollars worth of high-yield securities and mortgage-backed securities and manipulating the price of money.
More of Cohan's predictions on the financial future can be heard on Hartman's podcast number 834.
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About Jason Hartman
Jason Hartman is the founder of The American Monetary Association, The Hartman Media Company, Platinum Properties Investor Network and The Jason Hartman Foundation, a resource for young adults to develop financial literacy.
In a successful investing career spanning over two decades, Hartman has been a successful entrepreneur, speaker, author and media personality. His Complete Solution for Real Estate Investors has helped thousands of people achieve their dream of financial freedom with income property investments.
Hartman is also:
An innovator in teaching personal financial literacy and empowerment
Creator of the 10 Commandments of Successful Investing, a set of no-nonsense guidelines for achieving financial success
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Self-made multi-millionaire with income properties in several states
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