Donald Trump apparently knows he has no idea how to handle policy, domestic or foreign, so Trump supporters who believed in the all-knowing omniscience of their candidate have already been suckered with that pitch. Here’s a second way they have been suckered: that Trump has any interest in governing any different than a Democrat. That was confirmed on Wednesday with the report in Fortune that Trump told donors that his pick as Treasury Secretary would be former Goldman Sachs banker Steve Mnuchin, Trump’s national finance chairman, who has donated money to Hillary Clinton. That revelation came from Anthony Scaramucci, a high-profile hedge fund manager and Trump fundraiser. Trump has done a lousy job raising money so far, so that’s no credit to Mnuchin, who co-founded OneWest Bank Group LLC in 2004 and served as its Chairman and Chief Executive Officer. Guess who Mnuchin has worked with? George Soros. He was an Investment Professional of Soros Fund Management LLC, … [Read more...] about Ha Ha, Suckers, Part II: Trump Wants Goldman Sachs Democratic Donor For Treasury Secretary
KUALA LUMPUR, Malasia (AP) — Malasia presentó el viernes cargos penales contra 17 directores, actuales y pasados, de tres sucursales de Goldman Sachs por su papel en el supuesto saqueo multimillonaria del fondo de inversión estatal 1MDB. Fiscales malasios y estadounidenses alegan que las venta de bonos organizadas por Goldman Sachs para 1MDB fueron una de las vías empleadas por los socios del exlíder malasio Najib Razak para robar miles de millones de dólares a lo largo de varios años de un fondo establecido aparentemente para acelerar el desarrollo económico de la nación del sudeste asiático. El gobierno presentó el pasado diciembre cargos penales contra Goldman Sachs y dos antiguos ejecutivos de la firma por incumplimiento de las leyes bursátiles, incluyendo comunicados falsos y engañosos a inversores. Las 17 personas señaladas en el último documento judicial fueron acusadas en base a la ley malasia de … [Read more...] about Malasia acusa a 17 cargos de Goldman Sachs por fraude 1MDB
While harmful business practices revealed by the SEC lawsuit and recent Congressional hearings make the heads of Goldman Sachs seem infected with a particularly virulent strain of greed. But it might be only the scale of their payouts that distinguishes their alleged wrongdoing from how the rest of us behave. They were simply over-expressing a universal drive shared by all mankind, albeit in an environment that encouraged such behavior, experts say.Greed occurs when the natural human impulse to collect and consume useful resources like food, material wealth or fame overwhelms the constraints that maintain the social ties in a group, said Andrew Lo, an MIT professor who researches the relationship between neuroscience and economics.When a person acquires resources, chemicals are released in the brain that cause the sensation of pleasure. Greed is simply the addiction to that release, Lo told Life’s Little Mysteries.“When we succeed, we feel good. When we gather resources, we … [Read more...] about What Causes Corporate Greed?
Another part of President-elect Donald Trump’s cabinet has been filled with the selection of Steven Mnuchin as his Treasury Secretary. Who exactly is Mnuchin, and what can be expected from him as Treasury Secretary? Here are seven things you need to know about Mnuchin. 1. Mnuchin was a last-minute addition to the Trump team in April. Mnuchin was attending Trump’s victory party after the New York primary when Trump suddenly brought him onstage to gloat about the businessmen standing behind him. The next day, Trump offered Mnuchin the role of leading his campaign’s finance team; Mnuchin accepted. 2. Mnuchin has donated to many Democrats in the past. According to Conservative Review‘s Phil Shiver, this includes: $1,000 to Al Gore for President in 1999 $2,000 to Jon Corzine in 1999, Democratic New Jersey senator, then governor $1,000 to Bill Bradley for President in 1999 $7,400 to Hillary Clinton for NY in 2000, 2004, 20005, 2007 $2,500 to Chuck Schumer in 1998, … [Read more...] about 7 Things To Know About Trump’s Treasury Secretary Pick Steve Mnuchin
Amid the most dramatic sell-off since 2008, Treasury Sec. Steve Mnuchin has “startled” Wall Street analysts, economists, and bankers with an “unusual” statement about the credit capacity of the nation’s six largest banks, the Washington Post reports. In a statement posted on Twitter Sunday, Mnuchin said he had “convened individual calls with the CEOs of the nation’s six largest banks” and assured the American public that those banks had enough credit to extend to Americans and their businesses. Today I convened individual calls with the CEOs of the nation’s six largest banks. See attached statement. pic.twitter.com/YzuSamMyeT — Steven Mnuchin (@stevenmnuchin1) December 23, 2018 “Secretary Mnuchin conducted a series of calls today with the CEOs of the nation’s six largest banks: Brian Moynihan, Bank of America; Michael Corbat, Citi; David Solomon, Goldman Sachs; Jamie Dimon, JP Morgan Chase; James Gorman, Morgan … [Read more...] about Wall Street ‘Startled’ By ‘Unusual’ Trump Admin Calls To Banks Amid Sell-Off