Gary Cohn to Resign? Could Crash Markets

[jllundqu]

It seems perfectly clear what TPTB are attempting (and largely succeeding at doing).

They are isolating the president and making him virtually ineffective and impotent. They are using all ammo on him, and claiming moral high ground, while at the same time distancing from him, resigning, etc. Even Pence seems to be playing both sides. Ryan, McConnell, RINOS, are all trying to seize this moment to bring a de facto end to the Trump presidency. And the media is sure as hell going along with the script

https://www.cnbc.com/2017/08/17/a-gary-cohn-resignation-would-crash-the-markets-jeffrey-sonnenfeld.html


A Gary Cohn resignation would 'crash the markets,' management guru Jeffrey Sonnenfeld says



•Investors are counting on Trump aide Gary Cohn to help push through tax reform, Yale management expert Jeffrey Sonnenfeld tells CNBC.
•The New York Times reported that Cohn is "upset" and "disgusted" with Trump's response to violence in Charlottesville, Virginia.
•"I think if he steps away, it would crash the markets," Sonnenfeld says.

[Jamesiv1]

•The New York Times reported that Cohn is "upset" and "disgusted" with Trump's response to violence in Charlottesville, Virginia.
Pretty good chance this be Fake News©

[goldenequity]

Cowards and pussys.

[Brian4Liberty]

Just goes to show how effective a slickly produced propaganda piece (by Vice) can be.


Trump adviser Cohn wrote resignation letter, decided to stay (http://www.thefiscaltimes.com/latestnews/2017/08/25/Trump-adviser-Cohn-criticizes-administrations-Charlottesville-response)


Cohn spoke publicly about the controversy for the first time in an interview with the Financial Times newspaper, saying the administration needed to clearly reject hate groups. He said there was no equivalence between white supremacists or neo-Nazis and those who protest inequality.

"I believe this administration can and must do better in consistently and unequivocally condemning these groups and do everything we can to heal the deep divisions that exist in our communities," the former Goldman Sachs president told the newspaper.

"Citizens standing up for equality and freedom can never be equated with white supremacists, neo-Nazis, and the KKK," he added.
Cohn's criticism came nearly two weeks after white supremacist and neo-Nazi activists clashed with anti-racism protesters in Charlottesville, Virginia, over a plan to remove a statue of Robert E. Lee, a Confederate general in the U.S. Civil War.

A man thought to have neo-Nazi sympathies drove a car into a crowd of counterprotesters, killing one woman and injuring more than a dozen others. Following the clashes, Trump said there had been violence on "both sides," remarks that spurred condemnation by both Republican and Democratic politicians.

Cohn stood nearby during an impromptu Trump Tower news conference as the president insisted there were "very fine people on both sides" in Charlottesville. Cohn considered resigning over Trump's response, both newspapers reported, citing sources.
Cohn went so far as to draft a resignation letter, the New York Times reported, citing two people familiar with the document.
Cohn said he felt "compelled to voice my distress over the events of the last two weeks" and came under intense pressure to quit over Trump's reaction to the incident but decided against it.

"As a Jewish American, I will not allow neo-Nazis ranting 'Jews will not replace us' to cause this Jew to leave his job," he said, referring to chants by neo-Nazis in Charlottesville. "I feel deep empathy for all who have been targeted by these hate groups. We must all unite together against them."
...
http://www.thefiscaltimes.com/latestnews/2017/08/25/Trump-adviser-Cohn-criticizes-administrations-Charlottesville-response

[NorthCarolinaLiberty]

•The New York Times reported that Cohn is "upset" and "disgusted" with Trump's response to violence in Charlottesville, Virginia.

I'll need to hear the person actually say words used in quotes. Otherwise, it's hearsay.



•"I think if he steps away, it would crash the markets," Sonnenfeld says.

No, you don't think that. You made that up.





Pretty good chance this be Fake News©

Yep. See above.

[enhanced_deficit]

Could be all hype being leaked by WS insiders.
If Kushner resigned, then their might be a little blip.

[timosman]

https://www.bloomberg.com/news/articles/2017-08-03/is-gary-cohn-a-good-pick-to-head-the-fed


Trump’s top economic adviser, a Goldman alum, is a front-runner to become the next chair of the Federal Reserve.


...


The Top Contenders

Gary Cohn: The Insider
As a Trump senior economic adviser, Cohn is expected to have a big say in deciding who will head up the Fed starting next year. So if he gets the job, Cohn is sure to be accused of pulling a Dick Cheney. (Cheney ended up as President George W. Bush's running mate in 2000 after being asked to identify candidates for the post). For what it’s worth, Cohn, 56, has responded to a question about his interest in Yellen’s job by saying he’s happy in his current role. He’s generally viewed as one of the most influential voices in the administration arguing against economic isolationism.

Before joining Team Trump, Cohn worked at Goldman Sachs for more than 25 years, including a decade as president. While there, he criticized the Fed for pumping liquidity into the financial system to stimulate the economy while simultaneously telling banks they needed to build up capital and be careful lending it out. He also complained that Fed policy makers talked too much and just ended up confusing markets.

Janet Yellen: The Veteran
Yellen looked like a goner as Fed chair after Trump’s surprise election victory last November. The billionaire bashed the central bank during the campaign, and there were even rumors he might try to force her out before her term expires in February 2018. But as president, Trump has taken a different tack, saying he respects Yellen—and what's more—likes low interest rates. She has declined to say whether she wants another term.

A Democrat—the Brooklyn native served as chief economist to President Bill Clinton from 1997 to 1999—Yellen has spent much of her professional career working at the central bank, including a six-year stint as head of the San Francisco Fed. The 70-year-old former academic is married to George Akerlof, who won the 2001 Nobel Prize in economics for his work on market imperfections.

Kevin Warsh: The Reformer
As a Fed governor from 2006 to 2011, Warsh drew on his Wall Street experience at Morgan Stanley to play a key behind-the-scenes role in efforts to quell the financial crisis. He’s been a vocal critic of the central bank since then, advocating widespread changes in how it carries out monetary policy and communicates with the public.

A close associate of hedge-fund billionaire Stanley Druckenmiller, he argues that Fed policy makers are too complacent about mounting risks in financial markets. The 47-year-old Hoover Institution fellow was a member of the business-advisory council that met with Trump in February. He is married to Jane Lauder, daughter of Trump friend Ronald Lauder and a global brand president at the cosmetic company her grandmother, Estee Lauder, founded. His candidacy is being taken seriously enough that he’s also attracted opposition from left-leaning activists, particularly for his cheerleading prior to the financial crisis of Wall Street innovations.

Glenn Hubbard: The Tax Man
As President George W. Bush’s chief economist from 2001 to 2003, Hubbard played a key role in fashioning tax-cut packages that reduced rates on wages, dividends and capital gains. A fiscal-policy expert, he also served as economic adviser to Mitt Romney in his failed 2012 presidential campaign.

This isn’t the first time Hubbard, 58, has been touted as a potential Fed chair, losing out in 2006 to Ben Bernanke in the race to succeed Alan Greenspan. He favors a rule-based monetary policy and is uncomfortable with the Fed’s big balance sheet. The dean of Columbia University’s business school has recently raised his public profile, appearing on a number of cable television shows to discuss the economy. Along with Warsh and John Taylor, another potential Fed candidate, he co-wrote a July 18 article arguing that the U.S. could achieve Trump’s goal of 3 percent annual growth with the proper economic policies.

John Taylor: The Rule Maker
Stanford University professor John Taylor is best known for the monetary policy rule he developed in 1993 that links changes in interest rates by the Fed to the state of the economy and inflation. A former Treasury undersecretary during the President George W. Bush administration, Taylor faults the Fed for straying from that guideline in the early 2000s, helping fuel the housing bubble that led to the worst financial crisis since the Great Depression.

The 70-year-old economist has also been critical of the central bank’s more recent stance, arguing that it’s been too lax and too subject to the discretion of policy makers. He’s got supporters in the House of Representatives, where Republican lawmakers have pushed legislation that would require the Fed to follow a Taylor rule or something like it.

[Swordsmyth]

https://www.bloomberg.com/news/articles/2017-08-03/is-gary-cohn-a-good-pick-to-head-the-fed

The only one I would support for the position is Dr. Ron.

[timosman]

The only one I would support for the position is Dr. Ron.

It seems this time we will have to proceed without taking your input into consideration.:cool: