Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Robert Reich: Of course Donald Trump is a racist - and his Wall Street enablers know it
The relevant question is not whether Trump is a racist. Of course he is. Or whether he’s going to continue bashing these members of Congress, who fill all his demonization boxes: Democrats, females, people of color, a Muslim. Of course he will.
The real question is whether the people bankrolling Trump and the Republican party are going to stop this rot before it consumes the politics of 2020, and perhaps more.
--------
JP Morgan isn’t the only Wall Street firm backing Republicans. Between April and June, Senate majority leader Mitch McConnell collected $3m but just 9% of it came from individuals in his home state, Kentucky. The biggest block came from Wall Street hedge funds like the Blackstone Group ($95,400), KKR ($51,000), and Apollo Global Management and Golden Tree Management ($65,100).
Why is Wall Street funding Trump’s GOP? Because it is delighted with what Trump and Senate Republicans are giving it: tax cuts and regulatory rollbacks.
Dimon was instrumental in getting the Trump-Republican tax cut through Congress. Last year it saved JP Morgan and the other big banks $21bn.
The real question is whether the people bankrolling Trump and the Republican party are going to stop this rot before it consumes the politics of 2020, and perhaps more.
--------
JP Morgan isn’t the only Wall Street firm backing Republicans. Between April and June, Senate majority leader Mitch McConnell collected $3m but just 9% of it came from individuals in his home state, Kentucky. The biggest block came from Wall Street hedge funds like the Blackstone Group ($95,400), KKR ($51,000), and Apollo Global Management and Golden Tree Management ($65,100).
Why is Wall Street funding Trump’s GOP? Because it is delighted with what Trump and Senate Republicans are giving it: tax cuts and regulatory rollbacks.
Dimon was instrumental in getting the Trump-Republican tax cut through Congress. Last year it saved JP Morgan and the other big banks $21bn.
[link:https://www.theguardian.com/commentisfree/2019/jul/21/donald-trump-racist-wall-street-republicans|
Of course the CEO's of these companies would argue that they are working in the best interests of their share holders. I am sure companies like Deutsche Bank, BMW and Ford Germany said the same thing...in the 30's & 40's.
Heh.
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
