Hedge Fund Manager: Trump conned them

You better sit down and brace yourself for this.
Are you sitting down?
This is going to be hard to believe, but Donald J. Trump, reality TV star and Wrestling Hall of Fame member, conned the poorly educated.
Surprise!

Hedge fund manager Whitney Tilson was feeling happy Wednesday morning.
After Donald Trump ridiculed Wall Street on the campaign trail, the President-elect tapped former Goldman Sachs Group Inc. executive Steven Mnuchin to be his Treasury secretary and billionaire investor Wilbur Ross to lead the Commerce Department. Trump even met with Goldman Sachs President Gary Cohn inside Trump Tower.

It would suit Tilson just fine if voters who backed Trump because he promised to rein in Wall Street are furious now that he’s surrounding himself with bankers and billionaires.

“I can take glee in that -- I think Donald Trump conned them,” said Tilson, who runs Kase Capital Management. “I worried that he was going to do crazy things that would blow the system up. So the fact that he’s appointing people from within the system is a good thing.”

If Mnuchin becomes Treasury secretary, he’ll be the third Goldman Sachs alum in three decades to get the job. As Trump switches from using Wall Street as a punching bag to a farm team, bank stocks are roaring and executives and investors are sighing with relief. They’re not too worried about fury from Trump’s voters.

Well, knock me over with a feather!
Who could have saw that coming?
Oh wait. I did.

Remember when "a Trump White House strikes fear at the heart of capitalism"?
Remember when "Wall Street’s wealthiest tycoons are spending millions to thwart Trump"?
Remember when "The real threat to Wall Street is not Bernie Sanders — it’s Donald Trump"?

It all sounded so believable...as long as you didn't think about it too hard.
The Billionaire who is the nightmare for billionaires, because Reasons!
The angry conservative base of the Republican Party sure ate it up.

So how does Wall Street feel now that Trump is the nominee? Pretty good.

I spoke with over 50 financial professionals across the board. And the overwhelming majority said they were planning on voting for Trump at the election.
"He fights very hard to pay as little taxes as he can," a hedge fund manager said referring to recent Trump comment. "I say amen. He's just like us."

Why does this not surprise me?
Oh, yeah. Because I'm not a moron

So what does it mean that Trump's Treasury Secretary carried out more than 36,000 foreclosures during his reign as top executive at IndyMac/OneWest?
What will happen when Trump voters realize he's just another establishment financier?

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riverlover's picture

Those Wall St executives, hedge fund managers. The richies! One of their own. Please, br'er Fox...

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20 users have voted.

Hey! my dear friends or soon-to-be's, JtC could use the donations to keep this site functioning for those of us who can still see the life preserver or flotsam in the water.

I believe, because I imagine most don't pay nearly enough attention to the details of just what Rump is doing - just like all those Democrats who don't pay enough attention to what that party has been doing. The only Trump voter I know enough to even ask is my stepmother, who I'm not really speaking to right now anyway and I'd bet she thinks all is fine. I tried making the point before the election with her that while Her Heinous wasn't an option, Trump was not going to save this country either. And now, he gets to maybe give that big Fuck You to the entire American public. All those of us who poked fun at him for years can now pay for that.

Makes me sick to watch it, but I'm not going to freak out anymore. Its going to happen, it was going to happen under Shillary, and it really is up to us to stop it. Don't ask me how, I wish I had a clue there. Maybe the Rump supporters will finally see it but I won't hold my breath there.

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21 users have voted.
Oldest Son Of A Sailor's picture

No matter who won you knew Goldman Sachs and big money would be in the money spots...

It was inevitable...

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9 users have voted.
"Do you realize the responsibility I carry?
I'm the only person standing between Richard Nixon and the White House."

~John F. Kennedy~
Economic: -9.13, Social: -7.28,

2 of those voted for Bernie, the 3rd wanted Cruz, voted for Johnson.
All of them would have voted for The Devil before they would have voted for Hillary.
They ALL see the Trump Republican faction got punked. At least they are getting picture it is not left vs. right, it is up vs. down.
More and more people are getting the understanding that it is the 1% who is killing us, ruining the country.
I think Trump opened their eyes to this, and Hillary would have just been another leftie for them to hate.
If for no other reason, I thank Trump for showing them what an oligarchy looks and acts like, out and proud.

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20 users have voted.
Wink's picture

HRC would have just hidden it better. tRump doesn't give a damn about hiding anything. "Is it true, Mr. President, that you and your admin are all about fucking the 99% ?" "Absolutely true. We're all stoked with Viagra. Next... You in the $12 blue shirt... "

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9 users have voted.

the little things you can do are more valuable than the giant things you can't! - @thanatokephaloides. On Twitter @wink1radio. (-2.1) All about building progressive media.

Hope for unifying and breaking out of the chains of division that they fetter us with. I'm not sure Hillary would have nearly the unifying in opposition effect, that Trump does.

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4 users have voted.

Beware the bullshit factories.

Wink's picture

win is, had Her Highness won, the DNC (with DWS back at the helm) would be celebrating a Third Way victory and lining up more Third Way candidates for 2018, 2020. If we let that happen shame on us. It's up to progressives to Just Say No to their Third Way horse$h!t.

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2 users have voted.

the little things you can do are more valuable than the giant things you can't! - @thanatokephaloides. On Twitter @wink1radio. (-2.1) All about building progressive media.

If anyone is to blame its our Democrat President BARRACK HUSSIEN OBAMA!If he would have sent these cockaroaches to jail after the housing loan ripoff all these Goldman crooks would be in LEAVENWORTH pounding rocks instead of interviewing for jobs in the TRUMP Admin.Funny how things work aint it?

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21 users have voted.

DW

ggersh's picture

for everyone to see, with her heinous it would've all been behind close doors, it's now time for the people to say enough is enough.

where is the opposition to this clown? all I'm hearing is crickets.

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16 users have voted.

"We'll know our disinformation program is complete when everything the American public believes is false." William Casey, CIA Director 1st staff meeting, 1981

“USA will export two things soon, jack and squat. no planes, no cars soon.”

Bollox Ref's picture

But what choice did people have?

A lying, scumbag, celebrity politician, living in an exclusive compound, who wears the finest clothing, with constantly managed hair, and is known for close links to foreign dictators?

Or Donald Trump?

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38 users have voted.

Gëzuar!!
from a reasonably stable genius.

what a great comment,OUTSTANDING!

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12 users have voted.

DW

reflectionsv37's picture

You win the internet today!!

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9 users have voted.

“Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.”
George W. Bush

Wink's picture

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1 user has voted.

the little things you can do are more valuable than the giant things you can't! - @thanatokephaloides. On Twitter @wink1radio. (-2.1) All about building progressive media.

detroitmechworks's picture

for their escape from the US after they steal EVERYTHING.

At this point the smarter rich folks have got to be looking at the situation, and have a go-bag ready. Just in case.

There's only so long you can keep a con going, after all. Eventually things get very ugly.

Suddenly want to paraphrase "The Stainless Steel Rat"

"When a con is over, it is OVER. The temptation to cash just ONE more check or stay ONE more day can be almost insurmountable..."

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16 users have voted.

I do not pretend I know what I do not know.

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14 users have voted.

The fact the 1% are so brazen now persuades me that they already know this and already have plans to escape it, suppress it, defend against it, get away with it.

Which US governmental department has written up plans on how to deal with civil discontent when the climate change repercussions intensify? Defense? Homeland security? Doesn't matter. The 1% owns 100% of the US government.

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4 users have voted.
Song of the lark's picture

Watch out for the organ legger. Legal body parts the next step after repealing the ACA. United Healthcare and Monsanto will be branding your butt with a sold sign after they copyright your genome.

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10 users have voted.
detroitmechworks's picture

Sure he lied, cheated and stole from people...

But he owned it.

The entire rest of the people in power were pure slime who had no business being in charge if they wouldn't even own their own dishonesty.

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3 users have voted.

I do not pretend I know what I do not know.

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8 users have voted.
jwa13's picture

... it will be time for some "close shaves with the National Razor" --

https://en.wikipedia.org/wiki/Guillotine

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8 users have voted.

When Cicero had finished speaking, the people said “How well he spoke”.
When Demosthenes had finished speaking, the people said “Let us march”.

jwa13's picture

... it will be time for some "close shaves with the National Razor" --

https://en.wikipedia.org/wiki/Guillotine

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1 user has voted.

When Cicero had finished speaking, the people said “How well he spoke”.
When Demosthenes had finished speaking, the people said “Let us march”.

Wed, 11/30/2016 - 6:32pm — detroitmechworks

I wonder where they're all buying property

for their escape from the US after they steal EVERYTHING.

At this point the smarter rich folks have got to be looking at the situation, and have a go-bag ready. Just in case.

There's only so long you can keep a con going, after all. Eventually things get very ugly.

Suddenly want to paraphrase "The Stainless Steel Rat"

"When a con is over, it is OVER. The temptation to cash just ONE more check or stay ONE more day can be almost insurmountable..."

http://www.londonlovesbusiness.com/business-news/economic/the-super-rich...

The super-rich are buying property to flee to because they’re scared the poor will rise up

27 January 2015 | By Robyn Vinter

Fear of civil unrest prompts super-rich to buy “getaway” boltholes

The super-rich are buying property with airstrips in places like New Zealand, because they’re afraid of an uprising from the poor, according to a speaker at the World Economic Forum in Davos.

Robert Johnson, president of US think tank, the Institute of New Economic Thinking, said hedge fund managers are making getaway plans after civil unrest such as the 2011 London riots and the recent Ferguson riots.

He said: “I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway.”

Johnson’s statments follow Oxfam’s recent report indicating how the gap between the rich and poor is widening. Over the last five years, the richest 1% grew from owning 44% of the world’s wealth to 48% in 2014, says Oxfam. By next year, they’ll own more than the rest of the 99% put together. ...

... Stewart Wallis from the New Economics Foundation agreed that the wealthy were planning their escape, telling CNBC Africa: “If they can get off, onto another planet, some of them would.”

(Wreck one planet, buy another... no wonder they have to wreck civilization and this life-sustaining world to do it - and plan to produce air to sell at exorbitant prices once they do? With the privatization of space, there will be only any concept of the law of the power-hungry and ruthless out there.)
http://www.newsweek.com/2015/12/25/mars-colonies-rich-people-404681.html

Tech & Science
'Star Wars’ Class Wars: Is Mars the Escape Hatch for the 1 Percent?
By Kevin Maney On 12/14/15

While many dream of escaping earth to settle on Mars, billionaires like Elon Musk and Jeff Bezos are working to make it possible. But finding a new home on the red planet will likely only be for the rich, leaving the poor to suffer as earth's environment collapses and conflict breaks out. Andrew Rich/Vetta/Getty

... Blue Origin is now ginning up a real space race with SpaceX, which will help drive innovation and lower costs. Musk got a head start and has guided SpaceX into the business of launching satellites as a way to practice for human space travel. Bezos opened Blue Origin—a little side project when he’s not running Amazon.com—specifically to carry people to other planets, and it got its first rocket off the ground in April.

Also in the mix are Richard Branson with his Virgin Galactic and Microsoft co-founder Paul Allen, who funded the nerdily named Stratolaunch Systems. Space is turning into a billionaire-athon. If Donald Trump doesn’t become president, you just know there has to be a Trump Spaceship in his future.

Of course, launching a few rockets and saying you’re going to Mars is like writing a haiku and saying you’re going to become the next John Updike. But these guys are serious. “Our ultimate vision is millions of people living and working in space,” Bezos told reporters after the Blue Origin landing. Musk makes even grander statements. “We need to be laser-focused on becoming a multi-planet civilization,” he’s said. “That’s the next step.” ...

... Who will do that? The cost of the flight and setting up on another planet will hover well past the means of almost anyone but the superrich. Where will these wealthy people come from? Most of the space travel companies so far are American. What if those companies take mostly Americans? Will we start a human colony on Mars or an American colony?

Maybe later Mars will rebel and sign its Declaration of Independence from Earth. Maybe it will shut its borders and refuse any more refugees from that hot, horrible, hungry origin planet. We’re the exceptional people, the Martians might say, and all of you Earthlings just keep screwing up your home, so we don’t want you. ...

https://www.theguardian.com/public-leaders-network/2015/jan/23/nervous-s...

As inequality soars, the nervous super rich are already planning their escapes

Hedge fund managers are preparing getaways by buying airstrips and farms in remote areas, former hedge fund partner tells Davos during session on inequality

Davos 2015: overriding pessimism over growing inequality

... Author, philosopher and former academic Rebecca Newberger-Goldstein saw the glass half full, drawing on history to prove society does eventually change for the better. She said Martin Luther King was correct in his view that the arch of history might be long, but it bends towards justice.

In ancient Greece, she noted, even the greatest moralists like Plato and Aristotle never criticised slavery. Newberger-Goldstein said: “We’ve come a long way as a species. The truth is now dawning that everybody matters because the concept of mattering is at the core of every human being.” Knowing you matter, she added, is often as simple as having others “acknowledge the pathos and reality of your stories. To listen.”

Mexican micro-lending entrepreneur Carlos Danel expanded on the theme. His business, Gentera, has thrived by working out that “those excluded are not the problem but realising there’s an opportunity to serve them.”

He added: “Technology provides advantages that can lower costs and enable us to provide products and services that matter to the people who don’t seem to matter to society. And that’s beyond financial services – into education and elsewhere.”

Which, Danel believes, is why business was created in the first place – to serve. A message that seemed to get lost somewhere in the worship of profit.

Johnson, who heads the Institute of New Economic Thinking and was previously managing director at Soros, said societies can tolerate income inequality if the income floor is high enough. But with an existing system encouraging chief executives to take decisions solely on their profitability, even in the richest countries inequality is increasing.

https://www.theguardian.com/sustainable-business/2015/jan/21/wealth-trap...

Why Davos must shake off the shackles of wealth and entitlement
If only more children of the elite would raise climate change and social injustice at the breakfast table

Jo Confino in Davos

Wednesday 21 January 2015

In Davos, Switzerland, the elite will not put up with anything other than perfect ski slopes – even if the climate change they are helping to create is stopping nature from doing the task herself.

The World Economic Forum kicks off today surrounded by mountain slopes that owe some of their beautiful whiteness to 380 massive snow canons that have spent months pumping out hundreds of millions of litres of cold water mixed with air. It’s a powerful metaphor.

As Florian Grimm, the local head of snow management, told a colleague recently: “Today nobody would accept stones any more, or spots of grass in spring. They just want to have white from the top to the valley, and they know we have a system to do this.”

Despite all the talk, the wealthy elite gathered in Davos gain too much status, wealth and power from the maintenance of our destructive economic system to spearhead its transformation.

I also spoke to climate expert Jorgen Randers, co-author of the seminal 1972 report Limits to Growth, who worries about the lack of creative thinking at the gathering of powerful global leaders. “I am afraid the results will be limited, because Davos – for ideological reasons – tends to constrain itself to actions that are profitable from a business point of view. What is needed to solve the climate problem is a strong state which can put in place solutions that are not profitable, nor cost effective when using conventional measures.” ...

... Perhaps we should coin a new phrase, “the prosperity trap”, for it is psychologically as debilitating in its own way as the poverty trap (although such a comparison in everyday life would be grotesque). For this reason, Davos, the winter playground of the rich, is perhaps one of the worst places in the world to bring together global leaders – because there is not the merest hint of the poverty suffered by billions of people. ...

... As Davos convened for 2015, Adriaan Kamp, founder of Energy For One World, said: “We need a revolution. We need to instil a new spirit in our companies, society and economies. Our present constellation of leadership and status quo simply won’t do. They have failed. The elite can’t change the elite. So the better question to ask ourselves is how we, the professionals in business and society, can organise ourselves differently to clean up this mess? How can we organise for true success and a true new growth?” ...

That's what an actual democratic government - of, by and for the people - is supposed to do. Prevent predation and ensure the welfare of the people and country (including ecologies and economies, of course,) their offices exist to serve.

The self-interests would rather take the money and run from the ruins they've made of everything else - while apparently assuming that an airless planet with different conditions than those in which they've evolved will work for them and that an entirely unforgiving technology-dependent life-support system will somehow never fail, glitch (think of Windows/Microsoft running your life-support system? Darn, it's messing up again with that update!) or be repossessed/stolen in a situation where the law is that of the exertion of power alone, in any situation.

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0 users have voted.

Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Song of the lark's picture

Now we go through the glass darkly, all smoke and mirrors and dense smoke. But soon it's going to be an awesome bonfire, Burning so bright the sun will pale. A bright shining lie so attractive/repulsive that most of America couldn't turn away. Boy are we in for it. And as for the rubes, the conned, that great unwashed Midwestern mob, I gave up on them long ago when the reelected GWB.

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12 users have voted.
Big Al's picture

to vote for him and Clinton conned another 27% or so to vote for her. Or maybe the system conned people into participating in this farce. We've been trained, "these are your choices, make one". That's American demockery.
We should have boycotted the presidential election.

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16 users have voted.

With Hillary or Donnie, it was a matter of what condiments you wanted on your shit sandwich. But you were going to get a shit sandwich.

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10 users have voted.
Oldest Son Of A Sailor's picture

On your Turd Sandwich...

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3 users have voted.
"Do you realize the responsibility I carry?
I'm the only person standing between Richard Nixon and the White House."

~John F. Kennedy~
Economic: -9.13, Social: -7.28,
GreatLakeSailor's picture

Hillz was offering excrementé on ciabatta with aioli and arugula!

And the arugula was the new, improved Monsanto GMO A-Roo-Goo-Lah!, now with 7% less residual Round-Up and grown & picked by "workers" "employed" by CCA & The Geo Group.

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4 users have voted.

The only reason the 1% are rich is because the 99% have agreed to it.

The key is redirecting anger in the right direction. Farty old lefties and bloggers aren't the best at that. But it can be done. Start by copying what those guys do.

Btw if you look closely at Trump's last ad, you'll see a quick snippet of Lloyd Blankfein, Goldman's CEO, starring as the villain.

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4 users have voted.
edg's picture

Trump likes being the Alpha dog. He won't get rolled by the bankgangers the way Obama did and Clinton would. I'm sure he agrees with them on some things, but on others, he'll pwn them. As a real estate developer, his interests differ from those of the moneylenders in the Temple of Wall Street.

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3 users have voted.

Trump owes the money lenders who enabled his deals. Trump, like Reagan and Bush jr., appears enlisted to be a front man whose job is to entertain, distract, and convincingly lie while the VP runs the meetings.

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7 users have voted.

bygorry

edg's picture

Or have Democrats been lying that his funding came from Russia? It's hard for them to keep their lies straight anymore.

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1 user has voted.
Song of the lark's picture

Delusion.

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1 user has voted.
edg's picture

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MarilynW's picture

wait until the details come out.

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6 users have voted.

into saving those 1,000 jobs, the Dems might have not lost the Rust Belt.
But they simply didn't care.

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11 users have voted.
boriscleto's picture

No one in the Infotainment branch is mentioning the 1,100 jobs that are going elsewhere are they?

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8 users have voted.

" In the beginning, the universe was created. This has made a lot of people very angry, and is generally considered to have been a bad move. -- Douglas Adams, The Hitch Hiker's Guide to the Galaxy "

They'll have to think of something else to suck up the World's remaining wealth.

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3 users have voted.

Beware the bullshit factories.

FCC

President-elect Trump today added yet another fierce critic of net neutrality to his FCC transition team. The incoming President chose Roslyn Layton, a visiting fellow at the broadband-industry-funded American Enterprise Institute, to help select the new FCC boss and guide the Trump administration on telecom policy. Layton joins Jeffrey Eisenach, a former Verizon consultant and vocal net neutrality critic, and Mark Jamison, a former Sprint lobbyist that has also fought tooth and nail against net neutrality; recently going so far as to argue he doesn't think telecom monopolies exist.
Like Eisenach and Jamison, Layton has made a career out of fighting relentlessly against most of the FCC's more consumer-focused efforts, including net neutrality, consumer privacy rules, and increased competition in the residential broadband space.

Back in October, Layton posted an article to the AEI blog proclaiming that the FCC's new privacy rules, which give consumers greater control over how their data is collected and sold, were somehow part of a "partisan endgame of corporate favoritism" that weren't necessary and only confused customers.

also...

A last-ditch effort in the Senate to block or delay rule changes that would expand the U.S. government's hacking powers failed Wednesday, despite concerns the changes would jeopardize the privacy rights of innocent Americans and risk possible abuse by the incoming administration of President-elect Donald Trump.

Democratic Senator Ron Wyden attempted three times to delay the changes, which will take effect on Thursday and allow U.S. judges will be able to issue search warrants that give the FBI the authority to remotely access computers in any jurisdiction, potentially even overseas. His efforts were blocked by Senator John Cornyn of Texas, the Senate's second-ranking Republican.

The changes will allow judges to issue warrants in cases when a suspect uses anonymizing technology to conceal the location of his or her computer or for an investigation into a network of hacked or infected computers, such as a botnet.

Magistrate judges can currently only order searches within the jurisdiction of their court, which is typically limited to a few counties.

In a speech from the Senate floor, Wyden said that the changes to Rule 41 of the federal rules of criminal procedure amounted to "one of the biggest mistakes in surveillance policy in years."

The government will have "unprecedented authority to hack into Americans' personal phones, computers and other devices," Wyden said.

He added that such authority, which was approved by the Supreme Court in a private vote earlier this year, but was not subject to congressional approval, was especially troubling in the hands of an administration of President-elect Trump, a Republican who has "openly said he wants the power to hack his political opponents the same way Russia does."

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5 users have voted.

How the hell do we get around the internet gatekeepers like Comcast and AT&T. I know there's technology to do it.

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5 users have voted.

Beware the bullshit factories.

GreatLakeSailor's picture

The changes will allow judges to issue warrants in cases when a suspect uses anonymizing technology...

And since everyone is considered a suspect the Obama administration finished nixing the 4th Amendment and will hand things over to Trump. The upside is I can not see Obama's betrayal leading to any operational difference under a Clinton admin, so there's that.

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2 users have voted.

The only reason the 1% are rich is because the 99% have agreed to it.

Wink's picture

Sell, Sell on Jan. 19th. This ride about to implode soon after the oath has been sworn.

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5 users have voted.

the little things you can do are more valuable than the giant things you can't! - @thanatokephaloides. On Twitter @wink1radio. (-2.1) All about building progressive media.

Also by far, most Democrats who vote at all vote Democratic and most Republicans who vote at all vote Republican, NO MATTER WHAT.

Hillary, aka, the other crap candidate given us by media and the two largest political parties, won the popular vote by over two million, not because she (or Trump) duped anyone, but there are more Democrats than Republicans and (say it with me this time), by far, most Democrats who vote at all vote Democratic. She lost the election anyway, not because Trump duped anyone, but because:

1. We have an electoral college that allows states, or lines on a map, to elect the President, rather than the people. (Calm down and get used to it. In all likelihood, this will not change, at least not in your lifetime. It will not change between Democratic politicians and Republican politicians make sure the public stays deeply divided.)

2. Democrats tend to dominate the more populous states while Republicans tend to dominate the less populous states.

3. Millions of Democrats did not show up at the polls because the idea of voting for Hillary did not get them there.

It's not rocket science, folks.

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4 users have voted.