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Stories of Interest
- Banca IMI Securities to Pay $35Mn for Improper Handling of ADRs in Continuing SEC Crackdown
- Members of White House ‘Arts Panel’ Resign En Masse in Protest of Trump
- FINRA Whiffs on Disciplinary Sanction: Bill Singer's 'Negligent Market Manipulation in OTC Stock Promotion'
- Heather Heyer’s Mother Says, ‘I’m Not Talking to the President’
- Goldman Sachs May Have Lost $100Mn on Energy Bet Gone Wrong
- SEC Drops Case Against Ex-JPMorgan Traders Over 'London Whale'
- Financial Advisers That Invest in Technology Need to Accomplish These Two Things
- FINRA Amends Codes Regarding Expedited Arbitrator List Selection
- FINRA July 2017 Quarterly Disciplinary Review (Podcast)
- Senior Exec in Citigroup's Equities Unit Has Left
- Prudential Plotting its Escape From Fed's Tough Oversight
- Why CEOs Spurned Trump's Business Councils, in Their Own Words
- A Stockbroker, Her LLC, and Her Customers' Loans (Or Investment?) - Bill Singer
- Brian Quintenz Sworn In as CFTC Commissioner
- A Gary Cohn Resignation Would 'Crash the Markets' – Mgmt Guru Jeffrey Sonnenfeld
- Trading Firm DRW to Buy RGM Advisors - As Low Volatility Forces Out Weak HFT Players (subsc reqd)
- Reputational Damage - Rajat Gupta on Hard Road to Recovery
- 7th Circuit Affirms Spoofing Conviction - Bill Singer
- Wells Fargo Announces Board Changes
- Judge Rules Against Ex-Goldman Employee in Fed Leak Case
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NEWSLETTERS & ALERTS
Donald Trump & Co.
The Mouths That Roared
[Photo: Mohammad Ali / goldinauctions.com]
The Theodore Roosevelt administration in 1900 was guided by the now-famous ideology: "Speak softly, and carry a big stick; you will go far." It's a proverb advising the tactic of caution and non-aggression, while holding a decisive weapon in reserve, if so required.
However, this is 2017, and the Donald Trump administration is guided by a more outspoken and demonstrable ideology. And from what we have seen, words can be a two-edged sword. Strong and salty language got Trump elected. But now, they're interfering with his ability to move forward with his agenda.
Two articles on CNBC address some problems facing Donald Trump's travel ban.
- 'Trump Undermines New Travel Ban: 'This Is Watered-Down Version of First One'
'Actions Speak Louder Than Words'. While there are many ways one can interpret or apply this iconic aphorism, in this instance we're taking it mean that words uttered by an undisciplined person can undermine the perception of their actions.
At Wednesday's rally, Trump says: "This is watered-down version of the first one." This statement utterly belies his intention to make right what was essentially wrong with the first order. Trump then confirms this by adding: "And let me tell you something, I think we ought to go back to the first one and go all the way (through the legal system), which is wanted I wanted to do in the first place."
And, of course, television appearances by Trump's adviser Rudy Giuliani and White House policy adviser and campaign speechwriter Stephen Miller helped to 'seal the deal'. In a bit of unbridled hybris, Giuliani said: "When [Mr. Trump] first announced it, he said, 'Muslim ban.' He called me up. He said, 'Put a commission together. Show me the right way to do it legally'."
Then, on 2/21/17, when commenting on the then-upcoming revision to the Executive Order, Stephen Miller stated, "Fundamentally, [despite "technical" revisions meant to address the Ninth Circuit's concerns in Washington,] you're still going to have the same basic policy outcome [as the first]."
You can look it up. The above quotes were mentioned in the court ruling written by Federdal Judge Derrick Watson.