Firms like Goldman Sachs once believed the presidential account was uncorrelated to market results, but years of cumulative stress have been brutal.
"Two left-leaning kids from Brooklyn" trade insults on buybacks, bailouts and Wall Street's willingness to support new entitlement programs.
The Treasury Secretary said that he was “hopeful” that a deal could be struck as the market awaits a sideline conversation at the Group of 20 summit.
Financier George Soros, heiresses Liesel and Regan Pritzker, Abigail Disney and Facebook co-founder Chris Hughes are among those calling for it.
The SEC proposal received wide support from Wall Street trade groups and investment firms that were already subject to similar provisions anyway.