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.
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?