There is key point that does not get enough attention, which is strange because it is illegal. He-who-shall-not-be-named is making money off the presidency. Just yesterday, he invested in bonds of companies that may merge which he will say grace over. That is illegal on so many levels – one level is simple as this is a blatant conflict of interest. So, should we use a term in business fraud called a clawback?” A clawback says to the offender, you were in the wrong, so you owe the SEC $100 million in ill-gotten profits using a fictitious number. In essence, the SEC is clawing back the profits.
The worst example is Senator Bob Menendez of New Jersey who was found guilty of accepting bribes and gifts and sentenced to 11 years in prison. It should be noted NC Rep. Robert Pittenger was forced to resign as CEO from his company over conflict of interest laws with the House and NC Senator Richard Burr also got in trouble over an alleged insider trading issue. I think Burr escaped conviction, but even though I have met and like Burr, he looked pretty guilty to me. Of course, the popular Martha Stewart got undesired attention and was found guilty for acting on insider information.
It should be noted he-who-shall-not-be-named has been adjudicated as a financial fraud three times in the last several years. That does not include any earlier fraud adjudications.
Note to Readers: The following is an email response to the above from a retired friend:
”Is Trump ever going to pay the price for the havoc he has wrought upon us? Only God knows how much he has robbed our coffers.”
Note to Readers II: Here is another email response from a retired acquaintance:
”Once again, folks, everything you point out is true. At this point we know for sure that he has no moral or ethical code, and that he will not stop his efforts to destroy our constitutional republic. I’ll again suggest that each of us should try to find actions we can take to slow Trump’s attempted coup. If you discover a positive activity, post it here for all to see and perhaps join in.
For example, I recently discovered, to my surprise, that thousands of registered Senior Democrats in Wake County (my home County) did not vote in the ‘24 election. My local Sr. Dems organization, which meets monthly, is recruiting volunteers to locate, contact, communicate with, etc., these voters to
educate them and urge them to vote in the upcoming mid-terms, which are critical. I’m joining the effort here. I encourage everyone to check out your local Sr. Dems or similar organizations and find ways to do something that may help the cause. Thanks.”
Note to Readers III: Having worked as a consultant and paid attention to business news, the bad actors are out there. Back dating stock options, insider trading, interlocking boards, fraudulent accounting, misuse of company funds, etc. are done by more than a few. Then there is the dressing up of earnings with stock buybacks, dialing for dollars to reverse unused expense accruals or just straightforward sand bagging which occur with greater frequency. The latter are not illegal but reveal a company that must use smoke and mirrors to make their numbers. But, on the former names like Enron, Healthsouth, Tyco, Adelphia, eg should not be forgotten.
Thank you Keith form raising this concern.
It goes in my overflowing ‘Why Am I Not Surprised’ records.
The tragedy is, he will be allowed to get away with it- in the words of Al Smith ‘Let’s Look At The Record’. The numbers who are content with Trump and willing to make any excuse for him remain breath-taking. They are the problem, he is the symptom.
Take care and keep up your good work
Roger
Roger, thanks. I would argue they both are a problem – the mob boss and his captains. Keith
He now reminds me of one of those frenetic Third World dictators whose unhinged antics seemed to be funny, unless you lived under his misrule.
That it is happening within a nation the size of the USA is very troubling.
Dictatorship by the small town mob mentality.
Take care.
Roger
True. Fear and ego. It is sad to see our allies driven away, but that may be the attention getting move for spineless Trump supporters. Keith
Trump is using his presidential term as a money-grabbing opportunity, with his overriding the Congress to levy the tariffs, and his ultimate aim is absolute power over the legislative AND judiciary branch too, and he’d become too powerful that he believes that nobody can, overthrown his tyranny, but someone will, someone will ALWAYS overthrow the tyranny, to better the lives of the people, until the one who’d led the coup of the government turns her/himself into another, tyrant too…and the vicious cycle still rolls, nonstop!
The push back is sporadic but needs to be unified. He-who-shall-not-be-named will use every excuse in the book to defend his crimes, sins and money-grabbing decisions. Keith
I cannot recall a time when the corruption of all the snouts in the trough has been so public, yet so little has been done about it. DT is acting with contempt and impunity, and many others are jumping on the bandwagon.
Best wishes, Pete.
Thanks Pete. His cheating has always been on overt. Even on the golf course, sportswriter Rick Reilly said “Trump cheats right in front of you” in his book “Who’s your caddy?” Keith
Note to Readers IV: A true Trump clawback story is when Trump was sued for misusing donated funds to his Foundation. He settled the case with the judge requiring Trump to repay the Foundation $1.6 million (a clawback) for his misused funds. The judge also ordered the Trump Foundation terminated and funds distributed to charities per its Bylaws. And, no one named Trump could oversee the distribution process plus all Trump-named trustees had to undergo philanthropic training.
Keith, I have stated this many times and will continue to do so because it’s true. Any law that cannot be fully implemented and enforced is a bad law.
As I posted many months ago, Trump is bad, but Americas system is rotten to the core.
Jon, you are looking for a panacea, while I am looking for Republican elected officials to grow a pair. The few that seem like they have them are female. To your point, we already have a requirement that the president must brief Congress when using military force. A proposed law requiring that in Venezuela did not pass, but it already exists. Congress needs to start doing their job, especially with a autocratic president like Trump. Keith
Keith, you are correct “Congress needs to start doing their job”, but they haven’t and I doubt they will. So the system is rotten to the core, getting rid of Trump won’t fix the problem. It will just kick the can down the road, Again, as I’ve stated before this is a cultural issue, which has been growing for a long, long time.
Jon, I would say the construct exists. The rats running it need to do their job or get out. That includes the head rat. Keith