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Trump Lends the Banksters a Hand

By       Message Thom Hartmann       (Page 1 of 2 pages)     Permalink    (# of views)   1 comment

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Donald Trump
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Donald Trump just pulled off the biggest bait-and-switch in American history.

Back when he was a presidential candidate, Trump said things about the big banks that made him sound like a Bernie Sanders Democrat.

In his final ad before Election Day, for example, he blasted the "global power structure" that he said was robbing the country blind and enriching the wealthy at the expense of working Americans.

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That campaign ad -- and really the entire Donald Trump campaign -- will now go down in history as a con job of epic proportions.

All that populist talk about fighting; "draining the swamp"?

It was another one of those pesky little "Alternative Facts" Kellyanne Conway is always talking about.

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It was a lie.

Instead of fighting the "global economic power structure," Donald Trump is now hard at work making it even more powerful.

For example, he's now asking the Labor Department to scrap the so-called fiduciary rule, which requires investors who manage retirement accounts to act in the best interest of their investors -- not Wall Street.

Sounds pretty good, right?

Not for the banksters.

They hate the fiduciary rule because it prevents them from ripping people off - and they've spent millions lobbying against it over the past few years.

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As Trump administration Economic Adviser and former Goldman Sachs second-in-command Gary Cohn told the Wall Street Journal, "[the fiduciary rule] is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn't eat it because you might die younger."

Scrapping the fiduciary rule is just the start of Trump's big plan to help Wall Street.

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Thom Hartmann is a Project Censored Award-winning New York Times best-selling author, and host of a nationally syndicated daily progressive talk program on the Air America Radio Network, live noon-3 PM ET. www.thomhartmann.com His most recent books are "The Last Hours of Ancient Sunlight," "Unequal Protection: The Rise of Corporate Dominance and the Theft of Human Rights," "We The People," "What Would Jefferson Do?," "Screwed: The Undeclared War (more...)
 

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