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Showing posts with label Goldman Sachs. Show all posts
Showing posts with label Goldman Sachs. Show all posts

Sunday, June 4, 2017

Trump Pleases Small Business


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President Trump announcing his decision to pull the United States out of the Paris climate accord on Thursday. CreditAl Drago/The New York Times
As news that President Trump was pulling out of the Paris climate accord hit at a luncheon for small-business owners in Toledo, Ohio, on Thursday, an already happy crowd suddenly turned euphoric.
“It was like a major win at a football game,” said Rick Longenecker, a management consultant who had been among the 50 or so attendees who gathered to trade thoughts amid a rapidly improving local economy.
While multinational corporations such as Disney, Goldman Sachs and IBM have opposed the president’s decision to walk away from the international climate agreement, many small companies around the country were cheering him on, embracing the choice as a tough-minded business move that made good on Mr. Trump’s commitment to put America’s commercial interests first.
This full-throated support from the small-business community comes even as the Trump administration struggles to advance health care legislation and tax reform plans through Congress — and despite the swelling controversy over Mr. Trump’s ties to Russia.
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In Michigan, Ohio, Missouri and beyond, many small businesses are reporting improved sales and bigger work forces — regardless of what is going on in Washington.
“We’ve had customers who actually brought business back from Mexico that we haven’t done in seven years,” said Bill Polacek, president of JWF Industries, a manufacturer in Johnstown, Pa.
While local business leaders acknowledge that little has been done by the administration so far in terms of turning promises into law, especially with regard to health care and taxes, most are not yet ready to blame the president.
“There is a new sheriff in town,” said Louis M. Soltis, the owner of a company in Toledo that manufactures control panels for large factories. “But the biggest frustration that I have is that there is so much resistance that is keeping him from moving forward.”
In the months following Mr. Trump’s election victory, as stock markets hit historical highs and companies kept adding jobs, the business community as a whole seemed willing to give the president a chance to follow through on his bold promises to revitalize the economy by cutting taxes and rolling back regulations.
But the move to pull the United States out of an agreement it had previously signed with 195 countries has opened up a fissure between smaller companies and some of the biggest names in business. In the hours after the president’s announcement, dozens of companies including General Electric, Facebook and Microsoft voiced their opposition to the decision, and two prominent chief executives resigned from the president’s business advisory council.
Many small-business leaders in the Midwest, on the other hand, were largely unfazed.
For those more concerned with their local economies than global greenhouse gas emissions, walking away from the Paris agreement was just another example of a bottom-line business decision made by a president who knows a good deal from a bad one.
“This just heightens the divide between big business and small business,” said Jeffrey Korzenik, an investment strategist for Fifth Third Bank in Cincinnati who spends much of his time talking to small businesses in the Midwest. “They really have different worldviews.”
At the root of this disconnect is a sense that companies that employ up to a few hundred workers — such companies make up 99 percent of businesses in the United States and account for half of its private sector employment — are held to a more onerous standard than their larger peers when it comes to complying with regulations.
At the Toledo luncheon, for example, much of the discussion centered on the fact that the climate treaty is nonbinding. To businessmen who have spent the past 10 years complaining of ceaseless rules and regulations, the very idea that the climate pact lacked teeth was galling.
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Louis M. Soltis, the owner of a company that manufactures control panels in Toledo, Ohio, said he was frustrated that President Trump’s policies have faced so much opposition. CreditBrittany Greeson for The New York Times
“When companies here do business with a Ford or a G.M., they sign a contract that is not only binding — in many cases it is pretty harsh,” Mr. Longenecker said. “Now we have this deal to prevent a global catastrophe, and it’s nonbinding? That is ridiculous. And it makes us think that there is a hidden agenda, that we are just transferring trillions of dollars to China.”
To some small business executives, seeing the president talk tough to the Europeans and the Chinese was a reminder of why they voted for him in the first place.
“I think that we’re making a very big deal over a molehill,” said Dave Griggs, owner of Dave Griggs Flooring America in Columbia, Mo. which employs 16 people. “I think the president is exactly right, we need to certainly renegotiate.”
But local business leaders are not without their worries.
Mr. Griggs said that he was concerned about health care, particularly since Blue Cross Blue Shield of Kansas City announced last month that it would pull out of the insurance exchanges established under the Affordable Care Act, potentially affecting many Missouri residents. However, he said he still believed the administration would come through on its promise to replace the Affordable Care Act with something better.
“We’ve got a Republican Congress, a Republican president; hopefully we can get some initiatives passed,” Mr. Griggs said. “I am highly optimistic.”
But by and large, local business leaders said they remained supportive of the president and believed the attention on his campaign’s ties to Russia was overblown.
John Bagge, 64, who runs a catering company in Kirkland, Wash., with his wife and two daughters, said his business was booming — so much so that this was the first summer he has had to turn away customers in 40 years.
“Until we have the evidence, let’s just keep busy making America a better country, growing the economy and putting people back to work, rather than spending so much time arguing back and forth about who’s guilty and who’s not,” he said. 
The chief executives of big American companies were less sanguine, and many distanced themselves from Mr. Trump.
Elon Musk, the chief executive of Tesla, and Robert A. Iger, the chief executive of Disney, both resigned from the president’s economic advisory council on Thursday.
“Climate change is real,” Mr. Musk wrote on Twitter. “Leaving Paris is not good for America or the world.”
Other big company executives — including the chief executives Douglas McMillon of Walmart and Virginia M. Rometty of IBM — voiced their opposition to the president’s decision but said they would remain on the council.
“Disappointed in today’s news about the Paris Agreement,” Mr. McMillon said in a Facebook post on Thursday. “We think it’s important for countries to work together to reduce greenhouse gas emissions.”
Despite remaining broadly supportive of the president, some businessmen said that the whirlwind of controversies was beginning to raise questions about just how effective this administration could be.
Jim Stouffer, Jr. the president of Catawba Island Club, a local resort in Port Clinton, Ohio, said he supported the decision to leave the Paris agreement, but added that he was growing more uncertain of what the future holds.
“I don’t know what his endgame is,” he said.

Tuesday, November 29, 2016

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Steven Terner Mnuchin at Trump Tower in Manhattan this month. CreditSam Hodgson for The New York Times
WASHINGTON — Steven Terner Mnuchin, a financier with deep roots on Wall Street and in Hollywood but no government experience, is expected to be named Donald J. Trump’s Treasury secretary as soon as Wednesday, sources close to the transition say.
Mr. Mnuchin, 53, was the national finance chairman for Mr. Trump’s campaign. He began his career at Goldman Sachs, where he became a partner, before creating his own hedge fund, moving to the West Coast and entering the first rank of movie financiers by bankrolling hits like the “X-Men” franchise and “Avatar.”
As Treasury secretary, Mr. Mnuchin would play an important role in shaping the administration’s economic policies, including a package of promised tax cuts, increased spending on infrastructure and changes in the terms of foreign trade. He could also help lead any effort to roll back President Obama’s nuclear deal with Iran and opening to Cuba by reimposing sanctions on Tehran and Havana.
His selection fits uneasily with much of Mr. Trump’s campaign rhetoric attacking the financial industry. Mr. Trump, in a campaign ad intended as a closing argument, portrayed the chief executive of Goldman Sachs as the personification of a global elite that the ad said had “robbed our working class.”

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Donald Trump Is Choosing His Cabinet. Here’s the Latest List.

A list of possibilities and appointees for top posts in the new administration.
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But Mr. Mnuchin has said that he agrees with Mr. Trump’s priorities, and he was an early supporter of a candidate who clearly prizes loyalty.
When Mr. Trump won New York’s Republican presidential primary in April, Mr. Mnuchin attended the victory party. The next day, he accepted Mr. Trump’s invitation to become the campaign’s national finance director.
A number of Mr. Mnuchin’s friends made comments to various publications expressing shock at the decision. Mr. Mnuchin was unfazed.
“Nobody’s going to be, like, ‘Well, why did he do this?’ if I end up in the administration,” he told Bloomberg Businessweek in August.
Mr. Mnuchin, the son of a Goldman Sachs partner, joined the firm after graduating from Yale University. He worked there for 17 years, rising to oversee trading in government securities and mortgage bonds.
After leaving Goldman in 2002, he founded Dune Capital Management, a hedge fund named after the dunes near his beach house in the Hamptons.
He also started investing in the movie business and bought a house in Bel-Air. He is engaged to the actress Louise Linton, who would be his third wife. He told The Times in May that he has focused in recent years on the “West Coast economy,” although he added that he was not turning his back on Wall Street.
Mr. Mnuchin was part of a group that bought the failed California mortgage lender IndyMac from the government in 2009. He became chairman of the company, renamed OneWest, which was ultimately sold to CIT, the nation’s largest small-business lender, in 2015 for more than twice the price the group had paid.
During his tenure, OneWest faced allegations that it had foreclosed improperly on some borrowers. Fair-housing groups also filed a complaint with the federal government, alleging that OneWest was not meeting its legal obligation to make loans in minority neighborhoods.
Mr. Mnuchin and Mr. Trump have known each other for years — not always under the best of circumstances. Mr. Mnuchin’s company helped to finance construction of a Trump project in Chicago. In 2008, Mr. Trump sued Dune and other lenders to extend the loan terms. The parties ultimately settled.
Mr. Mnuchin has never worked in government, but Treasury secretaries are often drawn from the private sector. He would become the third Goldman alumnus to serve in the job, after Henry M. Paulson Jr., under President George W. Bush; and Robert E. Rubin, under President Bill Clinton.

Monday, October 24, 2016

WikiLeaks Exposes Clinton For The Traitor She Is



Wikieaks’ Julian Assange Gets Epic Revenge After Hillary Cuts His Internet

HELL YEAH!!!

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With just a little over 2 weeks before the presidential election, crooked Hillary is pulling out all the stops to keep Wikileaks’ Julian Assange’s mouth shut. With no success at actuallykilling him, her minions did the next best thing by cutting off his internet at the embassy several days ago. But unfortunately for Hillary, a nice condensed list of her top treasonous acts has just been released, highlighting the things she’s done against the very country she seeks to lead.
The last couple of weeks of Wikileaks’ data dumps have placed a very disturbing spotlight on the inner workings of Hillary and her crooked campaign. From voter fraud, to accepting bribes from Muslim terrorists, to immorality, the list of infractions against our country is just insane at this point. While it’s difficult to weed through the thousands of emails to find the important stuff, the following is a list of the 13 most damning emails that show straight-up acts of treason on Hillary Clinton’s part, as nicely constructed by Conservative Byte:

Hillary’s 13 Acts of Treason against the United States

  1. Qatar gives Bill Clinton $1,000,000 for his birthday:
    https://wikileaks.org/podesta-emails/emailid/8396#efmAEOAGW
  2. Saudi Sheikh won’t donate money to Clinton Foundation unless he receives a phone call from Bill Clinton. Staff responds: Bill won’t do it “unless Sheikh Mo has sent us a $6 million check”:
    https://wikileaks.org/podesta-emails/emailid/6775#efmACoADwAIqAJzAOXASM
  3. Iran Deal (which Hillary negotiated and defends) “condemns the next generation to cleaning up a nuclear war in the Persian Gulf”. John Podesta responds with “Yup”:
    https://wikileaks.org/podesta-emails/emailid/727#efmAAGAAJABQAEL
  4. Clinton campaign chairman John Podesta owned 75,000 shares in Putin-connected energy company:
    https://wikileaks.org/podesta-emails/emailid/4635#efmAFyAGUAWLAYP
  5. Transcripts from Hillary Clinton’s lucrative closed-door paid speeches delivered to elite financial firms and other special interests groups (which she has refused and failed to disclose to the public after much demand) have finally surfaced:
    https://wikileaks.org/podesta-emails/emailid/927 (See Attachment)
  6. Clinton staff conspiring to stage ‘leaking’ of favorable excerpts from wall street speech, in efforts to calm down the public while leaving out more damaging parts:
    https://wikileaks.org/podesta-emails/emailid/8086#efmAYqAgR
  7. Leaked private speech, Clinton: “You Need Both A Public And A Private Position”:
    https://wikileaks.org/podesta-emails/emailid/927#efmAaQAdiFjUFkd
  8. Leaked private speech, Clinton: “My dream is a hemispheric common market, with
    open trade and open borders”:
    https://wikileaks.org/podesta-emails/emailid/927#efmFjUFkd
  9. Leaked private speech transcript shows Clinton’s warm ties to Wall Street’s most powerful figures: Clinton: “There is such a bias against people who have led successful and/or complicated lives” The pressure on officials to sell or divest assets in order to serve, she added, had become “very onerous and unnecessary”:
    https://wikileaks.org/podesta-emails/emailid/927#efmDEMDKk
  10. Leaked private speech to Goldman Sachs, Clinton: “Wall Street was only accountable for the financial crisis for political reasons. The blame placed on the United States banking system for the crisis “could have been avoided in terms of both misunderstanding and really politicizing what happened”:
    https://wikileaks.org/podesta-emails/emailid/927#efmA2YA5Q
  11. Leaked private speech, Clinton: US will “ring China with missile defense” and has right to rename Pacific Ocean the “American Sea”:
    https://wikileaks.org/podesta-emails/emailid/927 (See attachment)
  12. Hillary Clinton flipped her public position on TPP after her team discussed how she would be “eaten alive” by Labor:
    https://wikileaks.org/podesta-emails/emailid/8452#efmAH1APRA0NA5c
  13. Clinton speechwriter: “We are trying to find a good way to leak her opposition to the pipeline without her having to actually say it”:
    https://wikileaks.org/podesta-emails/emailid/3855#efmAAGADH
With the majority of the media in Hillary’s back pocket and constantly kissing her ass, the only thing that we can do at this point is just keep doing our part by tirelessly working to expose her. With several polls showing a Hillary lead over Trump in many swing states, we must do everything we can to shine a light on the corruption and get those people who are on the fence swayed over to our side. If this vile human being does wind up getting elected president, at least you can sleep at night knowing that you did everything in your power to prevent it from happening.
Continue sharing stories like this and help expose the corruption. Before you go to bed at night, pray for God’s mercy on our families, and on our nation. Because if this woman gets into office, the America that we know and love will tragically be lost forever.

Wednesday, March 30, 2016

Trump May Not Be Your Cup Of Tea But Compared To Hillary...


Donald Trump and the conservative’s burden


During a recent exchange over presidential politics, I found myself on the business end of “the question.” Given the near-certainty of Donald Trump and Hillary Clinton serving as standard-bearers for the Republican and Democrat parties this fall, would I cast a ballot for Trump despite my reservations about him — and they are legion — to prevent a pathologically dishonest and possibly unbalanced Clinton from slithering back into the White House?
It’s a tricky little problem, and it reminded me how I occasionally find myself envying the Democrat Party just a little bit. Sure, they’re embroiled in a nasty little primary fight between former President Bill Clinton’s wife and an ancient communist from Vermont; but they’ll get over it fairly soon. They’ll smooth out the wrinkles, either by finessing their wayward sheep back into the fold through careful co-opting of some Sanders plank like “free” college, or simply burying them under a mountain of the Goldman Sachs cash to which Hillary Clinton has virtually unfettered access. And then, the doddering sociopath will roll towards November with the vast majority of her ducks in a row.
Meanwhile, the Republicans are careening wildly toward the same finish line; likely with — and because — Donald Trump behind the wheel. While the left can funnel their masses toward their chosen candidate with bumper-sticker catchphrases and outright blarney — “Hope and Change” and “white privilege” come to mind — the Republicans have no such luxury with the truly conservative side of the electorate.
For all the hateful divisiveness and blatant hypocrisy which has come to define the American left, they do not struggle with an intellectually diverse membership. In 2008, then-Senator Barack Obama ran on a platform of little more than race-baiting and reheated leftist-platitudes. He faced a stiff challenge from Madame Clinton, a less-than-subtly racist campaign which featured “Hillary!” supporters questioning Obama’s competence, birthplace and eligibility to run. And yet, when it was over, not only did they flock to the polls to cast a ballot for Obama, Hillary ended up joining his administration as what can fairly be described as the worst Secretary of State in American history.
They fought like alley cats; but when the dust settled, they all bared their claws in unison for the candidate their party presented to them. And there’s no reason to think they won’t do so again this fall.
Democrats lack intellectual curiosity, a fact ably demonstrated by decades of support for every hare-brained leftist scheme from so-called “global warming” to Obama’s so-called “foreign policy.” It makes them a solid source of material for guys like me, but it also makes them a formidable electoral bloc.
Don’t be fooled by the vitriol Bernie fans hurl at Hillary. The left and “center” of the Democrat Party united behind Obama in 2008; once Hillary makes the appropriate promises of free “stuff,” they’ll unite behind Clinton in much the same manner.
And therein lies the rub for the rest of us. The independence of the conservative — born of the same healthy skepticism of government which created this great land of ours — precludes the instinctive unanimity which helps the Democrats control their gaggle. In fact, conservatism by definition precludes unanimity. People who instinctively mistrust authority instinctively avoid people who seek it.
We can’t be bought. We can’t be shined on. We can’t be swayed by promises of “free” college, “free” healthcare or even “free” iPhones. And we don’t vote based on the advice of Hollywood blowhards or the talking hairstyles on television.
In 2008, many conservatives refused to hold their noses long enough to push Senator John McCain’s wheezing “Straight Talk Express” into the White House. In 2012, many of those same conservatives balked at backing Mitt Romney’s effort to derail Obama’s runaway train. And in 2016, many of those same conservatives are again struggling with the choice of Trump or “none of the above.”
To be honest, I have yet to formulate a real answer to “the question.” While I’m mortified by the idea that the Democrats are actually pushing Hillary Clinton towards the Oval Office, I’m hardly assuaged by the idea of Donald Trump in the same space.
I understand the concept of unity, but I refuse to simply fall in line for such a concept. If the GOP really wanted me — and my fellow conservatives — to back their man, they should have offered a better man. After all, what are we, Democrats?
— Ben Crystal