Jared Kushner

So using kind of the power of the pen in order to do that.

So the deregulatory effort

was actually very critical to Trump's economic success that happened at the beginning of the administration.

And then what I saw with regulation was anytime either there was legislation or regulation coming, the people pushing for it were usually the people who would benefit from the regulatory captures.

You had these, you know, you look at, you know, the great financial crisis where you had this big banking reforms.

Well, what happened during the big banking reforms?

Then you had a big reduction in the amount of banks that occurred and the big banks became even bigger.

Whereas I don't think that was the intention of the legislation, but the people who were writing the legislation and influencing it had a lot of the constituencies from those larger institutions.

And then what happened as a result of that?

A lot of these smaller institutions didn't have the ability to be as competitive.

They had more restrictions, more costs.

They became less profitable.

But these were the banks that were serving small business, which is the biggest creator of jobs in our country.

And then as a result, the bigger banks got more powerful.

And what happened in the country as a result of the regulations that they put in place, the wealth gap in the country grew.

It didn't shrink.

And so I think oftentimes what they say these regulations are intended to be

the result often becomes the opposite.

And so what President Trump did in his administration was they did a massive deregulatory effort.

And I think they pledged that for every one regulation they put on, because you do need some regulation in an economy and in a society, they would take off two.