The Week at Ropes & Gray / Election Edition
The election of Donald J. Trump as the next U.S. president creates the potential for significant regulatory changes emanating from Washington, D.C. Ropes & Gray partners provided commentary on some of the most noteworthy issues:
- The end of Obamacare? While the Republican mantra of “repeal and replace” has a much likelier path to success as a result of Tuesday’s vote, there are still tea leaves to be read about what will be repealed and/or replaced, and what will remain intact. Ropes & Gray health care lawyers, in this alert, “Trumping Obamacare,” discuss some of the likely effects of the Trump presidency on Obamacare specifically, and health care more generally. And health care partner Thomas Bulleit, out of Washington, D.C., told Law360: “Mr. Trump favors universal health coverage, so there may be room for compromise.”
- Good news for the CLO market? Aside from airing his objections to Dodd-Frank, Mr. Trump made clear his commitment to increasing jobs for the working class during his campaign. Former structured finance partner in London, told Bloomberg News that ensuring the CLO asset class continues to finance sub-investment grade companies would support this goal: “This gives further reason to suppose that the new administration may be more sympathetic to the CLO market than the current administration.”
- Forecast for international business? Mike Goetz, London managing partner, told the National Law Journal (subscription required), “It’s like Brexit—it will take some time for people to absorb it and understand what the implications are."