Industry leaders in the United States are reportedly unconcerned about a possible second term for former President Donald Trump — confident the government's built-in checks and balances will be sturdy guardrails.
Yet the confidence worried at least one partner at a large global private equity firm who joined the gathering at the World Economic Forum in Davos, Switzerland — given Trump's skepticism about his election defeat in 2020, and the subsequent U.S. Capital riot on Jan. 6, 2021, CNBC reported.
Talk about Trump dominated dinners and parties at the elite meeting, the outlet reported, revved up by his Iowa caucus victory.
JPMorgan CEO Jamie Dimon told CNBC's "Squawk Box" that he urged fellow industry leaders to "take a step back and be honest."
"He was kind of right about NATO," Dimon said, the outlet reported. "He was kind of right about immigration, he grew the economy quite well. Trade. Tax reform worked. He was right about some of China.
"I don't like how he said things about Mexico, but he wasn't wrong about some of these critical issues. And that's why they're voting for him."
According to CNBC, one partner at an unnamed, large global private equity firm said privately that he's surprised by the lack of concern among U.S. executives.
And another unnamed former Trump administration official said there's more reason for concern this time around because many of the people that kept Trump's damaging urges in check won't be working with him if he returns to office, CNBC reported.
"I'm not sure Europeans understand how weak executive orders are," that person said. "We have a justice system. Congress will probably be divided. It's right to be cautious, but it won't be the end of the world."
Another U.S. bank CEO privately expressed annoyance with media exaggeration of the threat of a Trump presidency, stressing he's "all bark and no bite." The bank chief also dismissed Trump's refusal to accept the results of the 2020 election as bloviation.
"He's going to win the presidency," the CEO predicted. "Many of his policies were right."
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