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Donald Trump’s new team of billionaire advisers could threaten his populist message
Keywords: Donald Trump, Trump Advisors,
Donald Trump's economic advisory team includes in addition to Harold Hamm, shale energy billionaire, Steven Mnuchin, CEO of hedge fund Dune Capital Management, hedge fund billionaire John Paulson, Dan DiMicco, CEO of steelmaker Nucor, bankers Stephen Calk, and Andy Beal, tax expert Stephen Moore, and David Malpass, a columnist for the WSJ. The team is headed by Stephen Miller, an aide to Senator Jeff Sessions of Alabama. The Washington Post points out that the selection of the team with many hedge fund businessmen including John Paulson, who bet against faulty mortgages before the 2008 financial crisis, is at odds with his criticism of Hillary Clinton for her contacts with Wall Street and his message of not having any connections with Wall Street so that he could better represent the interests of ordinary Americans- people hurt by the 2008 financial crisis with the high jobless rate for older white men. In the 2008 election both candidates John McCain and Barrack Obama were shown in media articles to have connections to lobbyists for Fannie Mae and Freddie Mac. In the 2012 election Mitt Romney as a private equity executive at Bain, was a part of the financial industry. This time in 2016- after all the noise and tumult about who represents Main Street- is no different for Trump and Clinton's connections to the financial industry. Only Clinton has to respond to the movement within her party from Bernie Sanders for providing a genuine example, and breaking with the past. The team of economic advisors put together by Jeb Bush led by Glenn Hubbard may be little different in substance than the one put together by Trump in its connections to the financial and real estate industry. The only person who took on the financial industry to fight for homeowners interests shown in Lyrarc since 2008 is Sheila Bair of the FDIC, a Kansas Republican. She could truly represent the interests of working class and ordinary Americans simply from a notion of fairness that is so much a part of the American experience. Yet she has said running for office and fund raising in the way it is practiced today makes the thought too difficult to accept. Recent developments do not offer encouragement. Yet ordinary Americans ought not to forget, and ought not to let anger affect a discerning view of things.
Donald Trump's economic advisory team with John Paulson, and many businessmen from the hedge funds and financial industry- at odds with the image of being with Main Street
08/05/2016
The 2008 financial crisis hurt the prospects of older white Americans who faced higher unemployment. It also led to the rescue of the financial industry and rates dropping to zero hurting the savings of ordinary Americans, and as the FDIC's Sheila Bair pointed out not much done to rescue homeowners under water. During the 2008 election candidates John McCain and Barrack Obama, both had connections to the real estate and financial industry, to lobbyists for Fannie Mae and Freddie Mac, as cited in the media. This time is no different with Clinton and Trump both having connections to Wall Street yet seeking the support of ordinary Americans hurt by the 2008 financial crisis. The only difference is that Clinton faces a movement within her party led by Bernie Sanders that calls for a different approach this time. There is also little difference between the economic team that Jeb Bush put together in its connections to Wall Street with Columbia University Business School Dean Hubbard and that of Trump.
Grouped Articles
Donald Trump’s new team of billionaire advisers could threaten his populist message
Washington Post 08/05/2016
Donald Trump, Hillary Clinton Spar Over Economic Proposals
WSJ 08/09/2016
Trump’s Empire: a Maze of Debts and Opaque Ties
The New York Times 08/20/2016
If Trump Gets His Way, Real Estate Will Get Even More Tax Breaks
The New York Times 09/01/2016
Where Hillary Clinton and Donald Trump Stand on Wall Street
WSJ 09/16/2016
New Clinton, Trump budget numbers
POLITICO 09/22/2016
Obama and McCain, Presidential candidates 2008, and their ties to Fannie Mae and Freddie Mac.
07/23/2008
The important role Fannie and Freddie lobbyists play in the campaigns of Obama and McCain at the highest level would make one rethink of them as agents of change very seriously. Both are promoting their own careers but in this they were promoting their own careers at the risk of the national interest as without the hard and timely work in 3 to 4 weeks of Secretary Paulson, Ben Bernanke and others, the collapse of Fannie and Freddie would have endangered the American and one could also say the world economy.
Grouped Articles
How John McCain Turned His Clichés Into Meaning
New York Times 12/18/2013
Wall Street Journal 07/23/2008
For ’08 Rivals, a Skein of Ties to Loan Giants
New York Times 09/10/2008
Cost of Fannie And Freddie Keeps Rising
New York Times 06/19/2010
Wall Street Journal 11/16/2010
Wall Street Journal 07/12/2011
Goldman Sachs, Paulson, and the S.E.C. suit in the Abacus case.
05/04/2009
Paulson had Goldman Sachs structure as ecurity out of handpicked bad apples in the mortgage securities market, Goldman then sells these securities to institutional investors without disclosing what Paulson had done and without disclosing that Paulson had bet heavily against them.
Grouped Articles
BusinessWeek 04/01/2010
New York Times 04/17/2010
Abacus Deal: As Bad as They Come
Wall Street Journal 04/20/2010
Wall Street Journal 04/20/2010
Economist 04/29/2010
SEC Tries to Rebuild Its Reputation
Wall Street Journal 09/12/2013
Bernie Sanders, Hillary Clinton, and the "progressives" in the 2016 U.S. presidential election
02/04/2016
Bernie Sanders says Hillary is a "progressive" on some days, and not on other days such as when she received $675,000 for 3 speeches at Goldman Sachs to her 2016 presidential campaign fund. Hillary says she is amused at how Sanders has become a gatekeeper for the "progressive" label. This was in response to questions at a CNN town hall by Anderson Cooper on Feb. 3, 2016.
Grouped Articles
This one moment perfectly captures the Clinton-Sanders war over progressivism - The Washington Post
Washington Post 02/04/2016
Clinton blasts Wall Street, but still draws millions in contributions - The Washington Post
Washington Post 02/04/2016
The Daily 202: Hillary Clinton makes her Wall Street problem worse - The Washington Post
Washington Post 02/04/2016
How Democrats’ Shift to the Left Is Helping Bernie Sanders
Wall Street Journal 02/08/2016
Livin’ Bernie Sanders’s Danish Dream
New York Times 02/12/2016
How Far Left Has America Moved?
New York Times 02/12/2016
Jeb Bush, economic advisor Ben Hubbard, wages and the middle class
07/03/2015
This NYT editorial is on Jeb Bush's economic advisor Ben Hubbard saying "compensation didn't stagnate" about wages and benefits. It points out that wages for the middle class have stagnated since the financial crisis of 2008. It says Hubbard's comments show a lack of grasp of the situation of the middle class and working class Americans. Jeb Bush has commented on the lack of education and economic mobility for working class Americans since 2008. This was the focus of his address to the 2014 CPAC Conference.
Grouped Articles
Jeb Bush Needs Some New Economic Advice
New York Times 07/03/2015
The Opportunity Debate Heats Up
Wall Street Journal 08/01/2015
Sanders, Corbyn and the coming debate inside the Democratic Party - The Washington Post
Washington Post 09/13/2015
U.A.W. Contract With Fiat Chrysler Would Give 2nd-Tier Workers Big Raise
New York Times 09/18/2015
It’s the American Dream, Stupid
Wall Street Journal 01/10/2016
A Republican Cure for Liberal Failures on Poverty
Wall Street Journal 01/10/2016
U.S. Hedge Fund manager John Paulson
01/19/2009
Grouped Articles
Hedge Funders Are All a Little Nuts
Wall Street Journal 08/27/2013
Hedge Funds' Investing Prowess Doesn't Live Up to Billing
Wall Street Journal 05/27/2014
The Year the Hedge-Fund Model Stalled on Main Street
Wall Street Journal 12/31/2015
Trader Racks Up a Second Epic Gain
Wall Street Journal 01/28/2011
John A. Paulson Makes $5 Billion Betting on Gold
New York Times 01/28/2011
Paulson Funds Hit Hard by Recent Gold Selloff
Wall Street Journal 10/10/2011
Questions about the narrative about Hillary Clinton's honesty- not a natural politician like Bill Clinton, some gaffes, but no less honest than Bill
04/23/2016
The gaffes Benghazi, using a personal email server as Secretary of State, being labeled by Sanders as a shifty "progressive," speeches at Wall Street firm Goldman Sachs. Benghazi and Libya described by Obama as his biggest mistake, Clinton struggling to push back with Panetta, and Gen. Keane and Jones against Obama's policy error. The personal email server an error that did not compromise national security. An old progressive in the style of Bill Clinton, but focussed on getting things done and reaching accomodation to do this. Wall Street connections now rightly seen as letting lobbyists influence policy, yet unlikely to influence policy just as Heidi Cruz's work as a director of Goldman is less likely to influence Ted Cruz's policies. The campaign financing are part of politics that determines U.S. elections, and the U.S. campaign financing needs to learn from the British system that extends from the parliamentary elections to the referendum on membership in the European Union. The gap with young women voters more a result of young women having less experience with the discrimination issues of an older generation of women, according to Pew Trust surveys.
Grouped Articles
New York Times 04/23/2016
How Hillary Clinton’s Rocky 1993 Washington Debut Bred Her Political Caution
WSJ 07/27/2016
Bill Clinton Praises His Wife’s Feminine Side
The New York Times 07/27/2016
WSJ 07/27/2016
Goldman Sachs Not Sure It Can Sell Private-Equity Stakes
WSJ 08/04/2016
Donald Trump’s new team of billionaire advisers could threaten his populist message
Washington Post 08/05/2016
Mitt Romney and the private equity/consulting practices of Bain Capital at medical equipment company, Dade Behring
11/12/2011
Bain Capital originanted the the merging of management consulting with private equity, for consulting firms to take equity ownership in companies seeking a turnaround. The practice of loading the company with debt, and taking out capital for the investors through a sequence of policy actions, even if this led the company to bankruptcy, became the hallmark of this kind of investing. In most cases this led to large layoffs, was adverse to building human talent in the company, as it was designed solely around generating large and early payoffs for investors. Goldman Sachs was the private equity partner for Bain Capital in the Dade company investment.
Grouped Articles
After Mitt Romney Deal, Company Showed Profits and Then Layoffs
New York Times 11/12/2011
New York Times 11/12/2011
New York Times 12/08/2011
Play of the Week: The Business of America Is....;Job Cuts?
Wall Street Journal 12/24/2011
New York Times 01/02/2012
Wall Street Journal 01/04/2012
Donald Trump's economic advisory team- executives from the finance industry and the real estate industry with strong connections to Wall Street
08/05/2016
Linked Articles
Trump Announces Economic Policy Advisory Team
WSJ 08/05/2016
Donald Trump’s new team of billionaire advisers could threaten his populist message
Washington Post 08/05/2016
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