Before we move forward, let’s start with the following extraordinarily disturbing report out of CNBC:
In the wake of Donald Trump’s upset victory, advisors to the president-elect have floated the possibility of naming JPMorgan Chase chief Jamie Dimon Treasury secretary, according to two people familiar with the matter, but one of them added that Dimon said he would not be interested in the role.
A Trump spokesperson could not immediately be reached for comment, and a spokesman for Dimon declined to elaborate beyond his past remarks that he would not be interested in the job.
First off, I want to say that the above isn’t confirmed. If it’s totally false, the Trump campaign should come out with a quick and vehement denial. I sincerely hope that happens.
That said, the report is cause for serious concern. Why? Because Trump’s reluctance to go after Wall Street was apparent throughout his entire campaign (as opposed to Bernie Sanders), and it was one of the main reasons I could never get comfortable with him. I wrote several posts where I articulated my concerns, but here’s an excerpt from one of them, Donald Trump’s True Colors Emerge as He Snuggles up to Wall Street:
While I’m not a Dodd-Frank fan, it’s not because it was too harsh, but because it didn’t really do much of anything. It was the typical neoliberal bait and switch, designed to look tough for public consumption, while merely making tweaks around the edges of a financial system that requires systemic, paradigm level change.
Trump’s support of repealing Dodd-Frank tells you all you need to know. A Trump Presidency will see Wall Street felons who should be in prison, running as wild and free as ever.
He will be the same thing to distressed working class whites that Obama was to the black community. A fake messiah and a shyster.