Evan Vucci / AP

One force thwarting Donald Trump's plan to roll back financial regulations is the regulators themselves. The Wall Street Journal points out that Dodd Frank was written in such a way as to give broad powers to the SEC and the Federal Reserve to implement the law. Even in the case of the SEC—which is more likely to toe the President's line—the regulatory reform process is overseen by the judiciary, now brimming with Obama appointees.

Wall Street is hopeful: Even so, investors are hopeful that the new administration will be able to roll back financial regulations. After Donald Trump ordered an executive review of the Dodd-Frank financial reform law—with the aim of rolling it back, financial sector stocks rose more than 3%. One theory is that eased regulations might allow banks to return more capital to investors.

Greece will need another bailout: According to the International Monetary Fund—its fifth since the start of the debt crisis in 2010. There's no more potent symbol of the failure of the euro than this protracted slump, from which there are few signs of relief.

Go deeper

Amy Coney Barrett's immediate impact

Illustration: Eniola Odetunde/Axios

In her first week on the job, Amy Coney Barrett may be deciding which votes to count in the presidential election. By her third week, she’ll be deciding the fate of the Affordable Care Act.

Where it stands: The Senate votes on Barrett’s nomination tomorrow. If she’s confirmed, Chief Justice John Roberts is expected to swear her in at the Supreme Court within hours, an administration official tells Axios.

Texas Democrats beg Biden to spend now

Photo: Ron Jenkins/Getty Images

The Biden campaign is rebuffing persistent pleas from Texas Democrats to spend at least $10 million in the Lone Star state, several people familiar with the talks tell Axios.

Why it matters: If Texas — which has 38 electoral votes and is steadily getting more blue, but hasn't backed a Democrat for president since 1976 — flipped to the Biden column, it would be game over. But the RealClearPolitics polling average stubbornly hovers at +2.6 for Trump — and Team Biden appears more focused on closer targets.

2 hours ago - Politics & Policy

Election night in Trumpworld

Photo illustration: Aïda Amer/Axios. Photo: Chris Carlson-Pool/Getty Images

A luxe election-night watch party at the Trump International Hotel on Pennsylvania Avenue is being planned for President Trump's donors, friends and advisers — but Trump's hand in it is minimal because he's "very superstitious" — people familiar with the plans tell Axios.

The big picture: This "mecca for all things MAGA," as one adviser described it, is one of three hubs where they say Trumpworld will watch returns. The others are the war room at campaign HQ in Rosslyn, Virginia, and the White House residence, where Trump and the first lady will gather close family and advisers before heading to the hotel later that night, the sources said.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!