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Trump's aides admit that he lied about trade talks with China this week to boost the stock market, committing securities fraud

Sho_Nuff82

Sho_Nuff82

Member
Nov 14, 2017
18,585
Much like the UK, we're learning that when you let the little crimes and white lies slide for political victories, the big crimes start to come easy. Also, I wonder if this aide is the same one who got fired this week, or if it's just the next person in the carousel.



Jim Sciutto said:
Aides concede Trump misled the country and the markets about phone calls with China this weekend. So what's more sobering? That he misled or that the markets bought it?
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CNN said:
Still, Trump flashed signs of optimism this week that the trade war could be resolved, saying he's received calls from Chinese officials saying they wanted to restart talks. Though Trump and Treasury Secretary Steven Mnuchin insisted there had been "communication," aides privately conceded the phone calls Trump described didn't happen they way he said they did.
Instead, two officials said Trump was eager to project optimism that might boost markets, and conflated comments from China's vice premier with direct communication from the Chinese.
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What this describes is, quite literally, market manipulation that constitutes criminal violations of the Securities Exchange Act of 1934: https://twitter.com/cnnpolitics/status/1166808384961687557 …
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https://t.co/xiit4yl7xv



Doing this for just one stock could get you fined or land you in a federal penitentiary. Trump manipulated the entirety of the equity markets with blatantly false information.
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TheDestructiveSquirrel

TheDestructiveSquirrel

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Oct 25, 2017
28,351
bagdad-bob.gif
 
Wraith

Wraith

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Jun 28, 2018
8,892
Like I said in the politics thread, in any other administration, this would be front page, highly-damaging news for days. But for this guy, we're all numb to the lies and corruption and just kind of shrug, "Yeah, sounds about right."

And it's strange watching the reaction of the stock market to any news that's basically "At least things aren't going to get worse for a while," given the administration's continued failure to negotiate or accomplish anything regarding trade with China. It's new tariffs, retaliation, cease fire, new tariffs, retaliation, cease fire. It never gets better because this clown has no idea what he's doing, and China isn't just going to fold easily and give in to his demands. Trump's shown he doesn't really get how negotiation works; it's not "I threaten you, you give me everything I want, and you get nothing." The only way he's accomplished anything is through a GOP majority in both houses (pre-midterms), Moscow Mitch handing him a free Supreme Court seat (and pushing through crybaby Kavanaugh), and executive orders. Every time he claimed he was going to "negotiate" with Democrats, he purposefully sabotaged it ahead of time, then claimed it was their fault nothing got done.
 

Deleted member 31817

Nov 7, 2017
30,876
Any day now they'll start impeachment proceedings

Any day now
 
Akita One

Akita One

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Oct 30, 2017
4,637
No president ever has done more to get themselves unelected. Nixon must be very grateful that he ran for president.
 
SpitztheGreat

SpitztheGreat

Member
May 16, 2019
2,879
This administration is using the same strategy GWB used. Intentionally or not, there is so much shit going on that overwhelms the public and investigators, and so nothing really happens. Towards the end of Bush's second term, there was an onslaught of reports and events that dragged his approval rating down. Many of them, individually, could have been crushing, but there were so many that everyone just got overwhelmed and he was able to limp it home. Trump is basically doing the same thing, every day there is a new scandal but how the hell can you focus when tomorrow there's a new one?
 
Nepenthe

Nepenthe

When the music hits, you feel no pain.
Administrator
Oct 25, 2017
21,174
"The President has never lied to the American people."
 
Robochimp

Robochimp

Avenger
Oct 25, 2017
2,681
Is it actually a crime if the President does it? I would say no.

Plus it's clear that the only enforcement is through congress.
 
anexanhume

anexanhume

Member
Oct 25, 2017
12,918
Maryland
He was already manipulating the markets by unilaterally imposing tariffs on a whim and trying to force private companies to follow his decrees. The fact he's now mixing dishonesty in is a curiosity in the scheme of things.
 
fontguy

fontguy

Avenger
Oct 8, 2018
16,234
Laws only exist if our institutions enforce them. At least as far as the Presidency goes, they don't.
 
Wraith

Wraith

Member
Jun 28, 2018
8,892
anexanhume said:
He was already manipulating the markets by unilaterally imposing tariffs on a whim and trying to force private companies to follow his decrees. The fact he's now mixing dishonesty in is a curiosity in the scheme of things.
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I really wonder how many of his previous statements about China and the trade war were outright, bald-faced lies that just weren't outed by White House staff. I mean beyond the obviously disproven ones (like "China pays us the tariffs").
 
OP
OP
Sho_Nuff82

Sho_Nuff82

Member
Nov 14, 2017
18,585
CopperPuppy said:
"That makes him smart"
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At one point in the 80s Trump's biggest income source was illegal market manipulation. He'd buy stock in a company, lie to the press about taking over said company and sell the stock after it went up.
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White collar crime is a running joke that everyone's in on, until it isn't.

It's hard to think of what's more frightening, that

1) We have a president who lives news cycle to news cycle, poll to poll, twitter trend to twitter trend, and is willing to blatantly fabricate trade deals, fudge numbers, and harass the Fed for short term popularity gratification (basically, "doing it for the 'gram" writ large)

2) The market is being held together by duct tape, and could easily crumble once the next round of tariffs hit (conveniently delayed until just after Black Friday because of #1 above)
 
LordofPwn

LordofPwn

Member
Oct 27, 2017
4,422
not really surprised the market bought it, wasn't there a typo in an AP report that cause a huge change in the market. they got bots and ai doing trading.
 
Starwing

Starwing

One Winged Slayer
The Fallen
Oct 31, 2018
4,137
To answer the question on what's more sobering, I'm gonna go with the latter. At this point, you have to be really behind the ball if you think Trump cares about you in any capacity. I have no idea why market analysts and traders keep buying his less than weak attempts at saving face at the cost of their investments in the market.
Nepenthe said:
"The President has never lied to the American people."
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Yeah, that was a good one.
 
Coyote Starrk

Coyote Starrk

The Fallen
Oct 30, 2017
53,689
But the nice Trump lady on meanyface CNN told me Trump has never lied to the American people!

WHO AM I SUPPOSED TO BELIEVE NOW?!
 
OP
OP
Sho_Nuff82

Sho_Nuff82

Member
Nov 14, 2017
18,585
Steel said:
This is something that happened in public. Trump said he had a promising high-level talk with the Chinese, the Chinese said that they never heard about this call.
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Chinese state media said it was bullshit 4 days ago, we're just catching up.



Based on what I know, Chinese and US top negotiators didn't hold phone talks in recent days. The two sides have been keeping contact at technical level, it doesn't have significance that President Trump suggested. China didn't change its position. China won't cave to US pressure.
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Window

Window

Member
Oct 27, 2017
8,291
This is pretty major but I do wonder how much the market listens to Trump's comments. A lot of hedge fund managers and analysts I hear on the news tend to brush off anything Trump says.. Then again instead of making empty promises or threats in this case Trump straight up fabricated events (but that's all too common from him as well). Sad that this is what the position of POTUS has come down to, where lies are the expected norm.
 
LukeOP

LukeOP

Banned
Oct 27, 2017
4,749
Sho_Nuff82 said:




White collar crime is a running joke that everyone's in on, until it isn't.

It's hard to think of what's more frightening, that

1) We have a president who lives news cycle to news cycle, poll to poll, twitter trend to twitter trend, and is willing to blatantly fabricate trade deals, fudge numbers, and harass the Fed for short term popularity gratification (basically, "doing it for the 'gram" writ large)

2) The market is being held together by duct tape, and could easily crumble once the next round of tariffs hit (conveniently delayed until just after Black Friday because of #1 above)
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Imagine nowadays thinking a stock will go up because of Trump buying it. L O Fucking L
 
Steeped in a Sea of Games

Steeped in a Sea of Games

The Fallen
Oct 25, 2017
6,972
Nobody seems to care enough to do anything. Here on out? Get elected and you're at least 4 years a king. That said, since no one seems to be stopping anything illegal happening, I don't see why anyone should expect electoral integrity either.
 
Palantiri

Palantiri

Member
Oct 25, 2017
545
I am sure this meets the definition of securities fraud, but that his position provides him immunity.

However, given that he has packed the government with friends and has not had to divest himself from his holdings or dealings with his family and their holdings, it would be interesting to find out how much he and his have made off of his market manipulations. He is always going on about this position costing him money, which invariably means he is probably taking it in.

But didnt that Tomato Linguini look alike on Cuomo say he doesnt lie?
 
WedgeX

WedgeX

Member
Oct 27, 2017
13,320
This is why you hold people accountable early, and not allow it to snowball.

Even though the fault of early 2017-2019 rests squarely on the cowards in the GOP.
 
KingK

KingK

Member
Oct 27, 2017
4,889
Xando said:
Can he be charged once he isn't president anymore?
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Hypothetically yes, assuming it isn't past any statute of limitations.

Will he though? Absolutley not. Anyone with the authority to do so will be too afraid of rocking the boat, afraid of "appearing politically motivated," and afraid of the "optics" and "precedent" of going after a former president.

On top of that, white collar criminals are almost never held accountable; even when they aren't a former president with 40% of the country willing to excuse any crime committed up to and including rape or murder.

Trump is never going to face consequences, outside of possibly losing reelection, for anything. He's never going to be held accountable for anything he's done or will do.
 
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