Donald Trump could manipulate the stock market, giving money to earn a selected group of investors – they write media in the USA, stipulating that the initiation of an investigation in this matter may be impossible. According to the daily, Arizona Republic, Trump boasted that the important sponsor of Republicans earned $ 2.5 billion thanks to him.
The public radio NPR cites the opinion of the Chief Lawyer of the White House for Ethics for the presidency of George W. Bush, Richard Painter: “You cannot allow a situation in which high -ranking public officials – including the president – say – they say about the prices of action and where to buy or sell (actions), and at the same time announce decisions that have a dramatic impact on the prices of shares.”
Painter, a professor at the University of Minnesota, refers to the accusations at Trump regarding Insider Trading, i.e. using confidential information regarding companies, trends or decisions affecting capital markets to obtain benefits or favoring selected investors.
Trump, before he announced a decision on 90 days of duties on the import of almost 60 countries on Wednesday, wrote in his social media that “now is the best time to buy (actions – PAP)”. When the official information about the postponement of the tariff entry into force appeared, the stock indexes soared up, and the investors who had previously bought assets, the reflection of the quotations brought huge profits.
If anyone in the administration of President Bush issued such a public message, recommending specific investment decisions, “this person would probably be released,” said Painter, who also emphasized that Trump at least “shifts the boundaries” regarding the permissible behavior of the politician.
The American “Newsweek” points out that, for example, the Republican Congressmenka Marjorie Taylor Greene, one of the most die -hard “Trumpists”, a few days before the decision to suspend their duties, when the quotations on the stock exchange fell on the head, on the neck, bought a large pool of action. Taylor Greene had to bring the reflection of the prices of these qualities – writes the weekly. The question arises whether people from the close environment of Trump could know that after a large discount of the action, their value would increase again.
“While Congress members can buy and sell shares, their knowledge about the development of the political situation raises concerns about any Insider Trading,” comments “Newsweek”.
“Arizona Republic” writes that on the same day he announced the suspension of duties for 90 days, Trump adopted a group of “ultrabogged” guests in the oval office and “joining/not joking, said how much they gained thanks to his moves.”
“(President) pointed out Charles Schwab and said that he earned $ 2.5 billion that day” – reports “AR”. Schwab is a billionaire, founder of an international company providing financial services – Charles Schwab Corporation – and an important sponsor of the Republican Party.
Politicians of the Democratic Party accused the president of manipulating the market and asked the Government Ethics Office of a review of transactions carried out by Trump administration employees who could know the details of his duties plans.
Senators Adam Schiff and Ruben Gallo issued a letter in which they wrote: “This sequence of events raises serious legal and ethical doubts. The president, his family and advisers have unique access to non -public information and the possibility of using it to make investment decisions.”
The chances that this matter will be clarified, however, are slim – assess the media and lawyers.
“Republicans, who control both the chamber (representatives) and the Senate, show little interest in opposing Trump”, as well as the Securities Commission (SEC), responsible for investigations in the case of Insider Trading. On Wednesday, the Senate approved the nominated by Trump Paul Atkins as the head of the head of SEC, and in February the president admitted in the executive regulation wider competences regarding the supervision of independent market regulators, including SEC – reminds NPR.
Neither the Justice Commission nor the Senate Finance Committee will not deal with the allegations of manipulating the market. “They are controlled by Republicans who either worship Trump or afraid of him. Either both” – writes “Arizona Republic”. (PAP)
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