Trump Doesn't Want a 'Poor Person' in Cabinet Roles, Praises Goldman Sachs

[Jtbrig7390]

https://www.yahoo.com/news/trump-doe...103543958.html

President Donald Trump defended his appointment of several billionaires—including the former President of Goldman Sachs—to his Cabinet and senior posts at a 2020 election campaign rally in Iowa Wednesday.

“In those particular positions I just don’t want a poor person. Does that make sense?” Trump said during the rally in Cedar Rapids, Iowa, referring mainly to economic positions.

Trump defended his pick of economic adviser Gary Cohn, who was president and chief operating officer of Goldman Sachs from 2006 to 2017. Cohn became a senior adviser despite Trump’s attacks on his rival Hillary Clinton during the 2016 election for getting paid for speaking gigs at the investment bank.

During the primaries, Trump accused the bank of having “total control” over his rival Republican Ted Cruz, “just like they have total control over Hillary Clinton.”

On Wednesday, Trump’s attitude was different. “When you get the President of Goldman Sachs,” he said, “this is the President of Goldman Sachs! Smart! Having him represent us, he went from massive paydays to peanuts. The peanuts, the little tiny…These are people that are great, brilliant business minds.”

Trump said this is what Americans “have to have so the world doesn’t take advantage of us.”

Cohn walked away from Goldman Sachs in January with a $285 million payout from the investment bank to take up his role in the Trump administration. According to financial disclosure forms Cohn’s net worth is at least $600 million.

Trump has the richest Cabinet in history with a combined net worth of at least $13 billion. President Barack Obama’s Cabinet were worth far less, but still had net worths of millions of dollars each.

"Somebody said: 'why did you appoint a rich person to be in charge of the economy?'” Trump said during his rally. “I said 'that's because that's the kind of thinking we want, you know really, because they’re representing the country. They don’t want the money. They’re representing the country. And they had to give up a lot to take these jobs. They gave up a lot.”

Keep draining that swamp....

Fucken LOL to the bolded.....just pure gold.

[Underverse]

mmmm swampy

Also getting a $285 million payout is giving up a lot? Gee, Trump sure is connected to the Average American.

[ItachiZaku]

Makes sense to me, I'm really liking Trump (still not enough to vote for him... or be paid to vote for him).

[Propelled]

I guess if having standards is good, having double standards must be twice as good.

[Deleted]

So we will all become multi millionaire investors?

[Gamer8585]

Of course Trump is going to put these guys in there. He fetishizes them and wants everyone to know he's hanging out with them.

Ofc. the problem with appointing people like that to lead the economy is that they were successful in a broken system. Even if they aren't going to keep the inequities around for purposes of naked self-interest (which they are now actively incentivised to do), there is absolutely no pressure on them to fix it, and that's if they can even see the parts that need fixing.

If Trump is truly drinking his own kool-aid on this then he's a living, breathing example of Hanlon's Razor.

[zenkai]

https://www.yahoo.com/news/trump-doe...103543958.html











Keep draining that swamp....

Fucken LOL to the bolded.....just pure gold.

I guess it's only a problem when Trump does it?

[Katchii]

I understand his line of thinking, I think: (his "words") Rich people obviously know how to run a business and be successful and therefore have great minds for business. They can help make our country successful. Poor people obviously can't or don't....because they're poor.

That said, that's an incredibly biased and narrow minded. Whether this will actually pan out and be effective still remains to be seen. But I can't help but think that with a cabinet like that, the White House is the most disconnected from the "working American" (middle class) than it's ever been. And the working American is by far the largest demographic in this country.

[Dontrike]

I understand his line of thinking, I think: (his "words") Rich people obviously know how to run a business and be successful and therefore have great minds for business. They can help make our country successful. Poor people obviously can't or don't....because they're poor.

That said, that's an incredibly biased and narrow minded. Whether this will actually pan out and be effective still remains to be seen. But I can't help but think that with a cabinet like that, the White House is the most disconnected from the "working American" (middle class) than it's ever been. And the working American is by far the largest demographic in this country.

I can also agree with his argument, to a point. They clearly know how to run a business, but many of them we all know have done so through a slew of shady means to have been able to. Not to mention yet again this goes against his "drain the swamp" rhetoric that he was spouting his entire presidential run.

Maybe these people can do good, it would be great if they did, but what is ore likely to happen is they do things that strictly benefit them and those in their circle of m/billionaires as has seen to be the case so far.

[Adam Jensen]

Makes sense to me, I'm really liking Trump (still not enough to vote for him... or be paid to vote for him).

Because money proves people have merit right?

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I understand his line of thinking, I think: (his "words") Rich people obviously know how to run a business and be successful and therefore have great minds for business. They can help make our country successful. Poor people obviously can't or don't....because they're poor.

Trump is an immediate disproof of this. He's rich because his father. Trump is a shitty businessman. If Trump had not done anything with his money and just let it sit. He'd be as rich as he is now.

[Draco-Onis]

I guess it's only a problem when Trump does it?

It's a problem when anyone does it, especially Obama who hypocritically gave wall street a pass when it came to holding them accountable. Goldman Sachs and people from there are vampires and only know one thing how to screw little people.

[Louisa Bannon]

I understand his line of thinking, I think: (his "words") Rich people obviously know how to run a business and be successful and therefore have great minds for business. They can help make our country successful. Poor people obviously can't or don't....because they're poor.

I understand you aren't necessarily agreeing with Trump, but you have also managed to skip a critical thing.

The law. The Federal Code. Banking Laws, Title 12. And other things like:
Securities Act of 1933
Securities Exchange Act of 1934
Trust Indenture Act of 1939
Investment Company Act of 1940
Investment Advisers Act of 1940
Securities Investor Protection Act of 1970
Public Company Accounting Reform and Corporate Responsibility Act of 2002 (Sarbanes-Oxley Act of 2002)
Wall Street Reform and Consumer Protection Act of 2010

Its funny how easy it is to make money when laws are specifically written so a few folks can do exactly that. It's funny how easy it is to make money when an entity is deemed too big to fail and the taxpayer is on the hook when they do, in fact, actually fail.

The profit is all theirs because they are the masters of the universe! So smart...the smartest guys in the room. But should they fail because they are greedy fucks, we have to bail them out.

There is the 1%.

And then there is everyone else.

Trump's rhetoric is as empty as the space between his ears.

[Ivanstone]

It's a problem when anyone does it, especially Obama who hypocritically gave wall street a pass when it came to holding them accountable. Goldman Sachs and people from there are vampires and only know one thing how to screw little people.

It would've been nice to give some nice fat jail sentences to banking CEO's, banks were still hit with billions of dollars in fines and still passed some (but not enough) consumer protections such Dodd-Frank and CFBP. All things Trump is seeking to undo despite specifically running against the influences of big banks.

But by all means continue to obfuscate the problem by saying "both sides do it" or "the other guy is too".

[Louisa Bannon]

They clearly know how to run a business...

Again, I know you are critical of them but you start with a false premise.

They aren't intelligent. They are in a position to specifically use laws created to benefit them. Full stop.

If X can legally charge 18% interest on a loan, but if Y did the same thing its actually a crime. X is a bank, Y is a loan-shark. Same fucking thing...except one is protected by law.

[paralleluniverse]

Enjoy being conned, Deplorables.

Now you have a team of Goldman Sachs bankers and rich fucks who's top obsession is ripping away healthcare from 23M people, delivering austerity for the poor, to give huge tax cuts to rich people like themselves. Fill the swamp!

And before you spread your deplorable lies and attempt to deflect with whataboutery, let me point out the fact that Obama's team didn't have any notable people from Goldman Sachs. He gave Wall Street the great Dodd-Frank act, a regulatory law so effective that Wall Street and their GOP stooges, like Trump, have been doing everything they can to rip it up and crash the economy again.

[zEmini]

It just keeps getting better and better with this Orangutan.

[ItachiZaku]

Because money proves people have merit right?

"People who say 'money is the root of all evil', don't fucking have any" - Boiler Room

Money is a mark of success (not always the case though), i'd rather follow someone with it than without it.

[Draco-Onis]

It would've been nice to give some nice fat jail sentences to banking CEO's, banks were still hit with billions of dollars in fines and still passed some (but not enough) consumer protections such Dodd-Frank and CFBP. All things Trump is seeking to undo despite specifically running against the influences of big banks.

But by all means continue to obfuscate the problem by saying "both sides do it" or "the other guy is too".

It's not a matter of all both sides do it sure republicans are worse but that doesn't excuse what Obama and the democrats did. There was popular support, democrats had full control of the government we had wall street by the balls they needed us but we gave them money with no strings attached. Obama's justice department made very little effort to convict people they gave them slaps on the wrist, this was the first financial crisis in history where no one of value went to jail they all got golden parachutes.

And those fines are a freaking joke, If i steal $100 from you and you fine me $1 what's my incentive for not stealing again?

[Daelak]

"People who say 'money is the root of all evil', don't fucking have any" - Boiler Room

Money is a mark of success (not always the case though), i'd rather follow someone with it than without it.

We don't really know if Trump is a success or not, unless you trust anything that comes out of his mouth.

[Belize]

Oh deary, we surely wouldn't want the peasants anywhere near us!