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I am more concerned about 6 GS people as Trump hires. Also a President that may turn his back on allies depending on how he reads the balance sheet. Regardless, NEVER ignore what the big money is going to do. IMHO. RDK
Maybe I like to find the best in everyone. The idea that anyone who gives up huge salaries and access to milking companies for even more pay via stock and stock options to take a position in public service to make themselves richer is simply not credible to anyone with a unbiased clue.
The way I look at it, if you want to FIX something busted by meddlers adding so many rules, regulations and attempts to redistribute wealth for the benefit of society that was a TOTAL FAILURE, you hire those who EXCELLED under the current set of rules making the maximum for themselves and their shareholders.
What you do is TASK them with using their brains to fix the system to benefit EVERYONE and their payment is a legacy of making the US a better place for everyone.
This is a stark contrast from how many in the past have used the office to go from "humble means" to net worth in the hundreds of millions basically peddling influence (Al Gore and the Clinton Foundation seem logical examples) while some like Bush II went away quietly.
Recall I didn't vote for "The Orange One" but I am sure chuckling at how worried so many are who profited well under large government that often rewards you for not working to full potential. California is REALLY upset with the election but I remind myself that probably one third our citizens get a check from the government....
I'm looking forward to both SNL skits making fun of "The Orange One" and his inability to have a sense of humor about himself... almost as much as I'm looking forward to perhaps having a chance to see a better system that actually encourages work and progress rather than seeing how much you can suck off the government and let someone else do the heavy lifting.
Robert Rubin certainly wasn't altruistic as Treasury Secretary who made leveraging up on the housing bubble possible but look at who he worked for after he left GS.... before he left government service to head Citi and get a multi million package after riding it to ruin.
I know as I wrongly thought Rubin was aware of the mess with mortgages to those who could not afford to repay them, so I sold all my small bank stock but bought some City.... But the bastard just walked off with over $100M in severance while the stock I bought trusting him was crushed and is still down 90% or so.
You are right. When he and Clinton were warned of the packaging of the loans they passed on any regulations. The chickens always come home to roost. I hope you are right. "IF" Trump pulls it off I am looking for 50K on the Dow. TWT.
I am deeply offended by those dirtbags in Congress saying they will refuse to attend the inauguration of the next President of the United States; I don't care who they are or what side of the aisle they set on. If they cannot respect the Office of the President enough to shut their mouths and attend, then they have no respect and no credibility as far as I am concerned! No exceptions.
Being a bio guy, I watched the Tim Price hearing. It was quite amusing watching the Dem Senators attack him on being in a private placement below market. But more humorous were their attempts to get him to commit to their goals (minimum standards requiring bloated insurance plans, drug industry takeover (exaggerating a bit)).
They were accusung this former dictor of some bad ethical lapses. He must have guven up millions to do public service. I admit some other stock buys looked questionable, but given the suze, it us hard to believe he did it intentionally.
One thing about having the Mnuchin treasury secretary confirmation on TV while I work on my newsletter, he is far and above smarter than anyone asking him questions. He even has the "be humble and kiss their ring with a nice compliment" before tearing their attacks to shreds.
It is no wonder that so few smart, successful and rich with no need to keep working people come forward to do public "service" when they have to take such abuse for being successful and playing by the rules the chumps asking the question set up.
I guess it is because the clowns asking the dumb attack questions in such a hostile manor need Youtube clips to convince an electorate "educated" by teachers who profit from the dysfunctional education system where so few actually understand finance and economics.
It is shameful how here in CA few actually have a clue that higher stock prices will SAVE taxpayers because our pension funds for public employees are only 67% funded and the contributions by the cops and teachers assumes a 7.5% annual rate of return going forward which is another gross mistake made just to keep the sham afloat. We taxpayers have a HUGE unfunded debt that may make problems worse for already under staffed Oakland and San Jose CA police departments.