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Michael Milken. Photo by Sean Zanni/Patrick McMullan via Getty Images.

Three takeaways from this week's Milken Global Conference, where many of the world's top financiers, politicians and philanthropists gathered to exchange ideas and host dinners:

1. Optimism. So much optimism, about nearly everything. If Mike Milken had decorated the Beverly Hilton with rainbows, it wouldn't have been out of place. Someone actually said to me yesterday that the rules of economic cycles may no longer apply, and this was a senior capital markets professional with a head full of gray.

2. Regulatory confusion, as the venerable playbook has been set on fire without a replacement. Several M&A bankers told me that they feel unable to give reliable regulatory advice right now, either domestically or internationally. Some of this may be resolved this week in Beijing, but it goes further than CFIUS or China's MOFCOM. And even a ruling in AT&T vs. DoJ is unlikely to settle things, as the loser is widely expected to appeal (particularly if that loser is DoJ).

  • But going back to #1, global M&A is still way up over this time last year. So this is really an argument about how a hot market could be a few degrees higher.

3. Less Trump. Last year's conference was dominated not only by talk of Trump, but also by top administration officials on the agenda. This year Trump was more in the background, as not even the tariff spats seemed to particularly irk the free-trading crowd (again, optimism). The official program still included some cabinet bigs like Steve Mnuchin and Wilbur Ross, but it felt like much fewer than the 2017 edition.

Go deeper

Cuomo: "No way I resign" after sexual harassment accusations

Cuomo at a Feb. 24 press conference. Photo: Seth Wenig/pool/AFP via Getty Images

New York Gov. Andrew Cuomo (D) was defiant on Sunday, stating again that he would not resign even as more former aides have come forward with allegations of sexual harassment and inappropriate behavior.

The big picture: Cuomo has denied all sexual harassment allegations against him and said that he "never inappropriately touched anybody." He acknowledged in a statement that "some of the things I have said have been misinterpreted as an unwanted flirtation." Some of the calls for Cuomo to resign have come from within the Democratic party.

N.Y. Times faces culture clashes as business booms

Illustration: Sarah Grillo/Axios

New York Times columnist David Brooks' resignation from a paid gig at a think tank on Saturday is the latest in a flurry of scandals that America's biggest and most successful newspaper company has endured in the past year.

Driving the news: Brooks resigned from the Aspen Institute following a BuzzFeed News investigation that uncovered conflicts of interest between his reporting and money he accepted from corporate donors for a project called "Weave" that he worked on at the nonprofit.

America rebalances its post-Trump news diet

Illustration: Annelise Capossela/Axios

Nearly halfway through President Biden's first 100 days, data shows that Americans are learning to wean themselves off of news — and especially politics.

Why it matters: The departure of former President Trump's once-ubiquitous presence in the news cycle has reoriented the country's attention.