Wednesday, November 30, 2016
Trump's Filling The Swamp With Terrific Sludge
"Donald Trump said the system is rigged. He said hedge fund managers are “getting away with murder.” He said that he’d “tax Wall Street.” He called Washington D.C. corrupt and promised to “drain the swamp.” He said his opponent Hillary Clinton was too cozy with the banks, as epitomized by her closed-door paid speeches. He said Clinton’s vice presidential nominee, Tim Kaine, was “owned by the banks” and that he, Trump, would break them up. Trump closed his campaign with an ad bashing Goldman Sachs and George Soros, using classically anti-Semitic phrases.
And now, according to The New York Times, ABC and CBS, the president-elect has chosen a second-generation Goldman Sachs partner who worked for George Soros before starting a hedge fund and buying IndyMac, a failing California bank that made billions while foreclosing on homeowners after the financial crisis.
Steven Mnuchin’s takeover of IndyMac is a story about everything Americans have come to hate about how the financial crisis was allowed to unfold ― ordinary people panicking, savvy investors pouncing, a government guarantee that saved a bank but didn’t even try to keep people in their homes, a clever rebranding, rampant foreclosures, billions of dollars in profits.
And now, the cruel punchline: The man behind it is being nominated for treasury secretary by a self-proclaimed billionaire populist."