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[Economic]
Trump Now Says Wall Street Is the Victim, Not the Villain
By Pam Martens and Russ Martens
Posted December 1, 2017

Trump now serves Wall Street“Populist” candidate for President, Donald Trump, railed against the “political establishment” and Wall Street elites who were “getting away with murder.” On October 26, 2016, just days before the Presidential election, Trump spoke at a rally in Charlotte, North Carolina and promised to uphold the plank in the Republican Party platform to break up the big banks by restoring the Glass-Steagall Act.

Now, as the sitting President, the former populist candidate has become the embodiment of the political establishment he railed against. He has stacked his administration with former bankers from Goldman Sachs; he has placed deeply conflicted Wall Street cronies in key regulatory posts; and he is promising to roll back critical financial reforms. His Treasury Secretary, Steve Mnuchin, has disavowed any intention to reinstate the Glass-Steagall Act. More…