White House Confirms "Cohn Intends To Remain In Position"

Tyler Durden's picture

Update 2: The White House has issued a statement confirming that "Gary Cohn intends to remain in position as NEC Director." The only problem is - the market is ignoring it. Presumably, the market now believes it is just a matter of time...

*  *  *

Update 1: Goldman Sach stock and the market are rebounding after Axios reports "source with direct knowledge says rumor is '100% False'"...

The reaction...

*  *  *

As we detailer earlier, amid calls from many Americans for his resignation, former Goldman President and Trump's director of national economic council Gary Cohn has remained silent. However, Goldman Sachs (and the whole market) is sliding this morning as a slew of headlines cross trading desks offering unconfirmed rumors that Cohn is set to resign.

Goldman began to sink yesterday as things escalated...

VIX is up and the whole market slid on this rumor...

We repeat - these rumors are completely unconfirmed, but note that this follows Yale School of Management's Jeffrey Sonnenfeld's warning that the market would crash if Cohn resigned...

If Gary Cohn steps away it would crash the markets: Jeffrey Sonnenfeld from CNBC.

 

"I don't want to be an alarmist, but there is a lot of faith that he is going to help carry through the tax reform that people are looking for," Sonnenfeld said on "Squawk Box."

 

"I think if he steps away, it would crash the markets."

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
SmilinJoeFizzion's picture

and this is preceived as a bad thing?

tmosley's picture

If the kikes leave, Trump won't have anyone working under him to prop the markets any more.

BaBaBouy's picture

Such a Shame...

Ole Yeller Next???

Haus-Targaryen's picture

Does anyone actually care? 

The Cooler King's picture

So does this mean that Jared Kushner will be the next FED CHAIR?

Ghost of PartysOver's picture

I am thinking that Trump now realizes the error of his ways.  He put too much faith in the Establishment advisors when selecting his team.  Slowly he his getting rid of them.  And that is a good thing!

null's picture

He was obligated to give them a chance.
He never misunderstood them ... or very much at all, in my opinion.

ejmoosa's picture

Or we can just shut the damn Fed down altogether.  Why wait?

NoVa's picture

@ Haus -  I think what this rumor means is that Bannon still has influence & power.

 

NoVa

 

null's picture

Bannon IS influence and power.
As it should be ...

Sofa King's picture

Sorkin is the reincarnation of Edward Bernays.

How can anybody watch him report and not see the cold eyes of a psychopath looking back at them?

Paul Kersey's picture

Want to see a real market crash? Then put Cohn where he belongs, in a prison cell.

 

Cohn and Trump are walking down the street, when a beautiful shiksa passes by,

Trump: "Boy, would I like to fuck her."

Cohn: "Out of what?"

Peacefulwarrior's picture

What a pathetic group of people occupying this planet.

null's picture

They will never leave ... well, not until whoever puts you up to saying dumb things directs you to stop. So, carry on ... you antikikecrusader you.

shizzledizzle's picture

Not that it makes much difference but how does four more years of garden gnome sound?

Rufus Temblor's picture

It's a very good thing if you prefer holding cash over equities.  But you knew that.

ReturnOfDaMac's picture

Yes, it would be terrible!  I own Govt Sachs.  It's my only way to profit from sheep shearing.  Hang in there Gary.

TheMexican's picture

This douche bag should never been given an opportunity after his insider trading.

marathonman's picture

Some thief from Goldman Sachs resigns from a do nothing Presidential Council and the world ends?!  Really?!

ejmoosa's picture

Stuart Varney is going on and on about how Trump has had crisis after crisis, and we are all upset these councils are gone.

Strange how myself and most of those here vehemently disagree.

Keep draining the swamp, Trump.  Soon they will flee themselves and the job will be that much easier.

null's picture

Like you'd know one ... if you saw one.

nmewn's picture

Well, at least this mole has the decency to resign instead hanging around like Comey to be fired  ;-)

Pollygotacracker's picture

Thank you. Well said. President Trump needs to face the reality that many on his staff were never there to MAGA. 

Rufus Temblor's picture

I guess Cohn's big decision is whether to help destroy Trump from within his administration or from the outside.

gregga777's picture

The Anglo-Zionists are destroying the legally elected Presidency of the United States of America from within and from without.

• Note the unbridled lying and hostility from the Anglo-Zionist FAKE NEWS Media.
• Note the unbridled hostility and lies from the political parasites on the AIPAC payroll (that's probably 100% of them).

uno's picture

so this is the new Bin Laden been caught rumor mill, remember when every S&P drop started the Bin Laden is caught short covering rally

resaci's picture

don't let the door hit ya in the ass on the way out !

small axe's picture

a self-draining swamp? Nice (but next time don't appoint these thieving Goldmanites in the first place)

jamesmmu's picture

They all gang up against Trump, what can you expect?

Quinvarius's picture

He called the President a racist.  He needs to be fired.

currentsea's picture

fire the JOO before he has a chance...  

onthedeschutes's picture

Gary...let me know if you want to borrow my nail gun.

Bay of Pigs's picture

Too funny. Now the BlowHorn [CNBC] jumps the shark to blame Trump for a market crash.

AC_Doctor's picture

JOODI-ISM holds together a large percentage of the Swamp Creatures...

Conax's picture

So some jackoff resigns. Hollow, feel-good tax reform promises endangered! Earth shaking news! Film at 11!

So crash, paper golem. buh bye.

hooligan2009's picture

this is just another "matter" with which the political opposition in the swamp is seeking to derail the reforms away from swamp dwellers and which generate fiat profits via thin air swamp gas to political encumbents.

the ploy is simple.

distract, divert and discriminate against any and all reform - even if that means consigning the US to the dustbin of failed countries via fiscal deficits and mountains of debt.

fingers crossed that the path to generating trade and fiscal surpluses so that companies, individuals and the government can deleverage is not a victim to the seditious actions of swamp dwelling pond scum.

 

Omega_Man's picture

get some gentiles in there

Bill of Rights's picture
  UNCONFIRMED: Gary Cohn is resigning

 

REPEAT: Not confirmed It would be significant as Cohn is being tipped as a potential replacement for Fed chair Janet Yellen if Trump were to decide to replace Yellen.  He currently is on the Presidents chief economic adviser on the Economic Council 

 

Reports Suggest Gary Cohn Has Resigned, Director Of The National Economic Council (The Tweet Has Been Deleted)

 

https://twitter.com/LiveSquawk

The Cooler King's picture

Throw him down the well.

gregga777's picture

Put him up against the wall and shoot him.

Rufus Temblor's picture

That's hilarious. GS is down because Cohn might resign? Is that because traders are afraid Cohn might get his old job back or could it be that GS won't get inside information with Cohn out of the White House?

luckylogger's picture

Inside info dude, he will never quit.

The golden traders would shoot him. HA

Cathay Kid's picture

As one who has been short from , it seems like, the dawn of time, I see this as a good move. Asking a GS man to correct a system created by the likes of GS never did make sense.

luckylogger's picture

HAHAHAHHAHHAHHAHAHAAHHAH!

Very well put! 1000000000000 thums up frome me!

gregga777's picture

Great! I hope that the Goldman Sacks dickhead gets his dick slammed in the door on the way out.