(From Capital and Conflict)
Who’s the biggest winner so far? “Government Sachs!”…
…So far, we’ve looked at ex-Goldman banker Steven Mnuchin, Trump’s pick for secretary of the Treasury.
While he was making a fortune at Goldman, a major Main Street company, Sears was turned into a Wall Street victim. Its stock is down 90%. And it is expected to declare bankruptcy in a few months.
Wilbur Ross, Trump’s new man for the Trump’s new man for the Department of Commerce, used federal regulation of imports to make a billion dollars in the steel industry.
Jack Welch, a member of Trump’s financial advisory team, used the credit-fueled boom of the 1980s and 1990s to turn Main Street manufacturer General Electric into a leveraged, go-go finance company. Its stock has been cut in half in the last 15 years.