Private Equity

Trump's Bait And Switch?

Within the political-financial establishment, the more things change, the more, it seems, they stay the same. As Trump moves ahead with his cabinet picks, several of them already stand out in a Mellon-esque fashion for their staggering wealth, their legal entanglements, and the policies they seem ready to support that sound like eerie throwbacks to the age of Harding.

Frontrunning: December 9

  • Futures rise as 'Trump rally' rolls on (Reuters), Oil Advances as European Stocks Extend Gains; Korean Won Slides (BBG)
  • Syrian government forces press attack in east Aleppo (Reuters)
  • Trump: China Will Have to ‘Play by the Rules’ (BBG)
  • Trump’s Cabinet Picks Signal Coming Deregulation Moves (WSJ)
  • Russia’s Military Buildup on the Baltic to Test Trump on NATO (WSJ)
  • OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles (BBG)

Trump Taps Oklahoma Attorney General Scott Pruitt As EPA Head

Trump picks conservative Oklahoma Attorney General Scott Pruitt to head up the EPA, a man who has “led the charge with repeated notices and subsequent lawsuits against the U.S. Environmental Protection Agency for their [sic] leadership’s activist agenda.”

Schwarzman, Dimon, Fink Will Advise Trump How To Create Jobs

Donald Trump today announced that he is establishing the President’s Strategic and Policy Forum. The Forum will be called upon to meet with the President "frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs and Make America Great Again. The Forum will be chaired by Stephen Schwarzman, Chairman, CEO, and Co-Founder of Blackstone." Its members also include Jamie Dimon and Larry Fink.

Frontrunning: December 1

  • Oil hits six-week high after OPEC deal, sterling jumps (Reuters), Oil Holds Gains After OPEC Deal (WSJ), Hangover Awaits as OPEC Celebrates (BBG)
  • Opec agreement: the winners and the losers (FT)
  • Russia’s Pledge to OPEC Will Mean ‘Herding Cats’ to Deliver Cuts (BBG)
  • Mnuchin Made Millions From Financial Crisis (WSJ); Trump reverses stance by turning to Goldman alumni for key roles (FT)
  • Treasury Pick Says ‘No Absolute Tax Cut’ for Wealthy (WSJ)

Frontrunning: November 18

  • Dollar heads for best fortnight vs. yen since 1988 (Reuters)
  • Jeff Sessions Said to Be Trump’s Pick for Attorney General (BBG)
  • Flynn set to be national security adviser (Reuters)
  • NATO Secretary General Expects to Speak With Trump ‘Very Soon’ (BBG)
  • Hensarling Could Be Wall Street’s Best Hope or Worst Nightmare (BBG)

This Election Has Disgraced The Entire Profession Of Journalism

We still don’t know the outcome of the 2016 election, in which our “democratic process” has produced two candidates widely despised by the American people, but we do know the race’s biggest loser: reporters and the profession of journalism, which has been reduced to surrogacy, largely on behalf of Hillary Clinton.