Why Democrats Should Rethink Wall Street Skepticism

At the Texas Tribune Festival, Maryland Governor Wes Moore joins Chuck Todd for a wide-ranging conversation about leadership in the Trump era, the future of Democratic politics, and the policy challenges shaping the next decade. Moore reflects on governing a state uniquely positioned at the crossroads of America’s north and south — and uniquely impacted by Donald Trump’s presidency. He and Chuck dig into the shutdown’s political fallout, why the legal theory behind shutdowns has always been flimsy, and how Maryland worked to blunt its effects. Moore also lays out why kicking people off healthcare is an indefensible shutdown tactic, what Democrats got right and wrong in their approach, and how states can tackle crime without relying on the myths surrounding the National Guard.

The conversation turns toward the issues that will define 2026 and beyond, including skyrocketing electric bills, the urgent need to rapidly diversify energy production, and the responsibility tech companies bear as AI and data centers reshape local communities. Moore challenges Democrats to rethink their discomfort with Wall Street, argues that poverty is the result of deliberate policy design, and explains how racial wealth theft — from redlining to inequitable lending — continues to hold the economy back. Chuck also presses him on 2028 rumors, his vision for restoring bipartisanship in a polarized country, and why national service might help rebuild trust in American institutions. Packed with policy, perspective, and political strategy, it’s a candid look at how one of the party’s rising stars sees the road ahead.

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Timeline:

(Timestamps may vary based on advertisements)

02:00 Introduction

02:45 Chuck Todd is joined by Maryland Governor Wes Moore

05:00 Balancing optimism in pessimism in the current political climate

06:30 No state has felt the impact of Trump more than Maryland

08:30 Maryland is where America’s north and south blend & clash

09:15 Confronting Trump vs. preparing for a post-Trump world

13:00 Did the Democrats take the right approach to the shutdown?

13:45 Shutdowns are predicated on a legal theory, not the constitution

15:30 Maryland took steps to mitigate damage from the shutdown

16:45 Kicking people off healthcare is an indefensible position for shutdown

18:00 Does Donald Trump have a point about crime in major cities?

19:30 How Maryland was able to significantly lower crime rate

21:15 Trump uses the military like they’re childish toy soldiers

22:15 There’s no data to support claim that national guard lowers crime

25:15 Advice Wes Moore gave to Zohran Mamdani for dealing with Trump

27:45 What does Trump do well that got him elected twice?

29:00 Donald Trump doesn’t wait to act

30:45 The electric bill will be the “price of eggs” issue in 2026

32:00 What can government do to alleviate high electricity prices?

34:15 We need to diversify energy projects and bring online faster

36:15 What is the responsibility of tech companies building data centers

37:45 AI & tech advancement must be done in partnership with communities

38:30 Why should Democrats not be overly skeptical of Wall Street?

39:30 Poverty exists due to deliberate policy choices

44:15 Why do Democrats have a net negative view of capitalism?

47:15 Does the socialist label create a branding problem?

48:15 The racial wealth gap has cost the economy $16T over two decades

48:45 Why haven’t reparations happened?

50:15 Redlining was one of the greatest wealth thefts in American history

53:00 Why should we believe Wes isn’t running in 2028?

55:45 What is one policy he supports that the Democratic party avoids?

59:00 How do we bring back bipartisanship when the middle doesn’t exist?

1:02:15 Message to people in their 20’s watching the upheaval in institutions?

1:06:15 Support for mandatory national service?

1:07:45 Best route for Maryland to overcome redistricting roadblocks?

1:11:15 Pitch to convince people to move from Texas to Maryland?

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