Tom Michaud

speaker

480 appearances 1 recordings 1 series first heard Jun 2026 last heard 3 Jun

Tom Michaud’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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The Master Investor Podcast with Wilfred Frost · “We’ve Seen the End of Times”: Tom Michaud on Market Extremes, IPO Red Flags, and 9/11 · 3 Jun 2026 podcast

And so they did whatever they could, in my opinion, to slow it down, whether it was a good merger or a bad merger, they just didn't want the mergers.

And so as an industry executive, you have to know that that risk exists.

And if you're thinking about doing a consolidation that you think is important for your clients, your community, your shareholders,

You have to factor in the risk that there could be a policy change and that could happen again, especially if you listen to what Senator Warren's been saying.

She recently did a public interview and absolutely laid out the progressive case.

for the banks that would essentially be a return to where we were.

And so it's all on the table.

You will want to do it now while you think that you have a government that would consider approval.

In the prior administration, they wouldn't even consider it, let alone give it merits on it being good or bad.

It took a long time to get them approved.

So let's talk about what's really positive about this, which is it's an administration that's willing to consider and regulate innovation.

Whereas in the prior administration, they had an anti-crypto rule saying that if you're a bank, you can't touch it, meaning JP Morgan can't even custody crypto for clients.

You have to go to Fidelity or a non-bank.

That allowed these non-banks to stand up to be as big as they are.

I think it's positive that we have the innovation.

And I think it's positive that they're allowing non-banks to apply for bank charters.

But I've spoken or interviewed Comptroller Gould myself and asked him the question, if you get one of these charters, if you're a fintech company, do you have to play by the same rules as a bank?

And he was clear.

The answer is yes.

So if you have these FinTechs focused on capital, liquidity, know your customer, bank secrecy, and many of these key features of a banking sector, I think the economy and the markets will be in a better place.

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