Even Trump Can’t Make Goldman Sachs Popular

Having pulled off the monumental achievement of getting elected with zero help from Wall Street, President Trump is at risk of throwing it all away. He seems to be turning his White House over not only to liberal Democrats, but to the very type of liberal Democrats he railed against on the campaign trail.

It’s like voluntarily getting an AIDS transfusion.

Until Trump, voters had two choices: A Republican beholden to Wall Street or a Democrat beholden to Wall Street.

But Wall Street despised Trump, and he despised them. This allowed him the luxury of denouncing both Ted Cruz and Hillary Clinton for their ties to Goldman Sachs, especially Hillary’s six-figure “speeches” to that investment bank.

Ninety percent of Wall Street’s money went to Hillary’s campaign. Wherever the other 10 percent went, it didn’t go to Trump.

What does that mean?

[Fox News’ Sean Hannity frantically waving his hand]: I know! I know! Since he owes them nothing and they’re universally reviled, he needs to turn the keys of the kingdom over to Wall Street bankers!

No, actually. It means that he should stay the hell away from them.

The Democrats, who are evil but not stupid, know what a gift it was for Trump to have had no Wall Street support. And they are already plotting to win Trump’s voters back.

A hand grenade has recently been tossed into Trump’s camp in the form of Stanley Greenberg’s mostly-overlooked report for Democracy Corps.

Greenberg, the Yale professor-turned-Democratic pollster, has conducted extensive, in-depth interviews with the beating heart of Trump’s working-class support: the voters of Macomb County, Michigan, which went for Obama twice, but then flipped to Trump. They were impossible to move. They love Trump, have no regrets about their vote, disbelieve the media and detest career politicians like Paul Ryan and Mitch McConnell. They just “pray he keeps his promises and succeeds.”

However, one fact, and one fact only, shook their faith: when they were told that his Cabinet was “full of campaign donors, Goldman Sachs bankers (bailed out by the taxpayers) and people who use undocumented workers in their homes.”

Hearing that, these devoted Trump voters called him “two-faced,” a “puppet” and sadly remarked, “It’s going to be a lot of the same old garbage.”

Trump knows this. His guilty conscience propelled him to stray from his standard rally speech in Cedar Rapids, Iowa, last week, and go into what seemed like an endless soliloquy on his chief economic adviser, Goldman Sachs’ Gary Cohn. (Not to be confused with his Treasury Secretary, Goldman Sachs’ Steve Mnuchin, or his deputy national security adviser, Goldman Sachs’ Dina Powell. These are the people the media call the “grown-ups” in Trump’s administration.)

The Cedar Rapids crowd was thrilled to see Trump. They would have cheered his tie. They would have cheered the humidity. But his lengthy disquisition on Cohn? Crickets.

Touting (lifelong, and still today, liberal Democrat) Cohn’s “great, brilliant business mind,” Trump said, he wanted “a rich person to be in charge of the economy,” because “that’s the kind of thinking we want.”

Sean Hannity, bless his heart, has the zeal of the late Trump convert. He would endorse communism if Trump decided to implement the policies of “The Communist Manifesto.” (Which the GOP’s health care bill actually does!)

On his show last Thursday, he tried to get me to defend Trump’s “rich person” remarks about Cohn. I wish you could see the segment, but, unfortunately, Hannity decided no one would ever see it — NOT, I hasten to add, because he would ever censor criticism of Trump, but simply because he ran out of time.

In a pre-taped interview. It was a time problem. (It may not be evident to most viewers, but three minutes MUST be left at the end of every Hannity show for Nerf ball throwing.)

With the zealotry of those who came late to the Trump party, Hannity fully endorsed Trump’s faith in Cohn, adding, “I never got a job from a poor man!”

Those of us who have been here for a while — unlike Cruz- and Rubio-supporting Hannity — know how to party responsibly. The best way we serve the people we admire is to tell them the truth. (Someday, no doubt, Nancy Pelosi will wish she had been surrounded by fewer Yes Men.)

The motto of we longtime Trump supporters is: NO TREATS FOR DOING NOTHING!

As I told Hannity (in the pre-taped, and later edited, interview): He’s also never gotten a job from Goldman Sachs. Commerce Secretary Wilbur Ross created jobs. Donald Trump created jobs. Goldman Sachs doesn’t create jobs. The geniuses of Goldman specialize in generating obscene salaries for themselves while helping send American jobs abroad.

Trump said he wanted rich people to do for the country what they had done for themselves. Here’s what Gary Cohn did for himself: He oversaw the mortgage department at Goldman Sachs in the run-up to Wall Street blowing up the economy with the 2008 mortgage meltdown.

Under Cohn, Goldman’s role was especially egregious, as described in detail in a 600-page report issued by the Senate Permanent Subcommittee on Investigations headed by Republican Sen. Tom Coburn and Democratic Sen. Carl Levin, after a two-year review.

As Goldman was furiously betting against worthless mortgages for its own account, it was hawking this toxic paper to its customers.

Goldman’s customers could be wiped out with no skin off Goldman’s back. But Goldman was doing the same with its trading partners, and the problem with scamming people on the other side of a bet is that, by winning, you might bankrupt them, and they can’t pay you back.

But that’s where you come in, taxpayer! To ensure that kazillionaires at Goldman recouped 100 cents on the dollar after the crash, taxpayer money was used to bail out the losers in these transactions — primarily AIG — so that they could pay back Goldman and other Wall Street banks in full.

It was the biggest taxpayer bailout of banks in U.S. history.

Is that what Gary Cohn is going to do for the economy? Scam the naive of, say, Canada, then ask for a taxpayer bailout from Mars?

As to rich people being “smart”: Kim Kardashian is rich. Joaquin “El Chapo” Guzman is rich. Bernie Madoff was rich — as he surely tells the 300-pound, face-tattooed gangsters he now showers with. No one wants any of them advising Trump, either. 

You could have heard this on Hannity, but, apparently, there was some sort of timing issue.

Ann Coulter
Ann Coulter is an American conservative social and political commentator, writer, syndicated columnist, and lawyer. She frequently appears on television, radio, and as a speaker at public and private events.
Latest comments
  • Successful businessmen who know how to balance a budget and operate within their economic means would be a great asset for our country. Goldman Sachs executives however, knew they were too big to fail so they rode the whole mortgage thing until it imploded! The other side to that was they were merely offering loans that the government said it would cover. Had they not had the government offer, GS would not have gotten in trouble as they would have had no one to sell bad loans to! So who is to blame, GS for taking the government’s offer, or social engineering by the government??

    • Right on, Rob. The mortgage and house market implosion lays at the feet of the FHA and Goldman Sachs, Democrats and Republicans. So many seniors saw their homes go from $285,000 to $91,000. That is lost money. Lost real money. Seniors will never recover that loss in their lifeitme. So long as they live in the home, it doesn’t matter, but if they need to sell, to finance their life, then the loss is felt in a huge way. It is overwhelming. Thank you Goldman Sachs. Thank you Obama. Thank you FHA insured loans. Now FHA is guaranteeing Reverse Mortgage loans for the lenders. Think AIG.

  • The truth hurts as Anne has just illustrated; thus, REVOLUTION will be the final SOLUTION – guaranteed! Armr============================? – – – – , we will be needing them unless you enjoy being a serf to the NWO-elitists and living in misery and squalor while they live the life of queens and kings as they currently are doing on the backs of all of “US” docile sheeple that are continuously being sheared while taking it up the ass!

  • I don’t think he like or even know Cohn, it seems to me that his appointment is the price Trump must pay if he doesn’t want to end up a dead martyr.

  • So we have the GS cohort, Ivanka and Jerrod, (liberal, Dem, New Yorker friends and family), the circular firing squad in the White House, the GOP wets in Congress, the Dem resistance bloc in Congress, and no sub-Cabinet appointments in the agencies (acting staff are hold-overs from Obama and deep state zombies), and few ambassadors. Some news (might not be fake) reports suggest that Trump can’t find candidates to join?! He’s calling but can’t get to ‘Yes’.
    Pray for the President and the nation.

  • Anne exposes the very reason I was terribly critical and upset when Trump put Reince Priebus in his administration. If anybody is a snake and mole and a GOP traitor working to damage Trump it is Priebus.

  • The Khazars noticed the Muslims and Communists were starting to turn against them. So much for riding them to the top. Trump is different. He has Khazars in his family and business relations. Someone they can trust. Plus the demons they used to rely on have been cast out by Christian deliverance. They are turning actual Jewish. And the Muslims & Communists are jealous of Trump.

  • So that’s how the speculating/gambling losses of Goldman Sachs’ trading partners were, via bailout, converted into our losses, and worse still, losses that we don’t get to deduct on our tax returns. It looks like a trend to much higher interest rates on T-Bonds, 10-year Notes, and other debt is getting started, which will wipe out the value of government debt to the point the government will have trouble selling it. At least that ought to wipe out the ability of the government to perpetrate any further bailouts, and wipe out the ability to borrow-and-spend. Good riddance to both.

  • Hannity has been a Trump propaganda machine for the longest. You are right, Ann, he does not take the objective journalistic view, but always goes for how to puff the President. Now, having said that, I am glad Hannity is on our side, as well as you. Frankly, I am enthused about you tackling Hanniity and bringing him under scrutiny. Keep it up. There has to be a force he will listen to. Perhaps you have seen, as I have seen, from viewing Hannity and listening to him on the radio for a long, long time, that he is just stuck on his own views and will not relent. The one man he seems to listen to is Newt Gingrich, and I listen to him too, and wish he was in the WH on the Trump team. Hannity gets along with Newt, and vice versa, but to do so, Newt must suffer a lof of interruptions as he answers Hannity’s questions. If Newt is not saying what Hannity wants him to say, he interrupts, takes it elsewhere. But Newt has the patience to abide Hannity’s one-track, my-view-or-no-view mind. Good for Newt. But again, I am glad Hannity is on our side, and you too. Hey, iron sharpens iron. Keep it up. You are a legitimate journalistic, conservative voice. Help keep him on the right path. P.S. I am a lifelong print media journalist–newspapers, magazines, book ghosting. I stay informed daily, and I very much like to read your columns. Thanks for being fair and balanced and unafraid. Sound familiar?

  • Ann, you are so right on!! I knocked on doors for JFK when I was in junior high school, then I came out for Donald Trump and knocked on doors for him for all the reasons we all did!! Only to know or at least suspect that he is just another puppet for the bankers you have just described!! DEMOCRACY?? What DEMOCRACY?? We are all feeling so helpless as we watch our best efforts and our best hopes to take back our country go amiss because of the same old rich men who control all the money!! How about an election to abolish the Federal Reserve?

  • They’re called jews Ann.
    Trump is an Israel First president.
    Ask Granny Yellin and Stanley Fischer of the Federal Reserve.
    They can tell you what Trump is doing.
    They’re both Israeli dual citizens.
    C’mon Ann….you’re not a stupid girl.
    Stop pulling your punches.
    2{5be752e6a2546dc4e6e2f4f637c8b6b9a634d589f947af2e09cfdaaa6f97c9dd} of the population and about 40-50{5be752e6a2546dc4e6e2f4f637c8b6b9a634d589f947af2e09cfdaaa6f97c9dd} of his cabinet and advisors.
    A tad over represented, I’d say.