MNUCHIN TELLS WALL STREET: 'You should all thank me for your bank stocks doing better'

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U.S. Secretary of the Treasury Steven Mnuchin departs from a meeting on tax reform with Senate Majority Leader Mitch McConnell (R-KY) (not pictured) and Speaker of the House Paul Ryan (R-WI) (not pictured) on Capitol Hill in Washington, U.S., April 25, 2017. REUTERS/Joshua Roberts

Thomson Reuters

U.S. Secretary of the Treasury Steven Mnuchin departs from a meeting on tax reform on Capitol Hill in Washington

LOS ANGELES - Treasury Secretary Steven Mnuchin told an audience of Wall Street managers that they could thank him for financial deregulation.

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"You should all thank me for your bank stocks doing better," Mnuchin said at the Milken Institute Global Conference held at the Beverly Hilton, drawing laughs.

Mnuchin said that the Trump administration would focus on clarifying regulation for big banks. He said he saw current regulation as a "black box."

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