Comment by lordnacho
2 days ago
> they were just acting as a middleman
This is no excuse. If they knew this would be a business, being a broker of such deals would be sure to make them money.
2 days ago
> they were just acting as a middleman
This is no excuse. If they knew this would be a business, being a broker of such deals would be sure to make them money.
It’s not really excusing anything, just pointing out that Cantor Fitzgerald would be making money whether this Supreme Court ruling went for or against the Trump tariffs. So it’s not like they had to have any inside knowledge to be making money.
They do make more money the more pervasive tariffs are though as more people would buy tariff related financial products.
It's true that a volatile environment in general is good for certain types of investment banking business, including facilitating this trade. I nevertheless think it's unlikely - honestly, a galaxy brain take - that Cantor Fitzgerald or other investment banks with influence in the Trump administration would push for policies like unconstitutional tariffs just to drive trading revenue. Maybe the strongest reason is that other, frankly more lucrative investment banking activities, like fundraising and M&A, benefit from a growing economy and a stable economic and regulatory environment.
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