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Video of Trump Bragging About Enriching His Billionaire Pals Draws Outrage (www.commondreams.org)

submitted 6 days ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

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Nitter link to video: https://nitter.net/MorePerfectUS/status/1910340290260463771#m

The market surge added over $300 billion to the collective wealth of the world's top billionaires in a matter of hours, according to Bloomberg. Shortly before announcing the tariff pause, Trump posted to his social media platform that it is a "great time to buy" stocks, prompting accusations of market manipulation.

A video clip of U.S. President Donald Trump openly boasting about enriching his billionaire friends is drawing outrage as the administration faces growing scrutiny for possible market manipulation and insider trading in the aftermath of his partial tariff pause.

"He made two-and-a-half billion today," Trump said in the Oval Office on Wednesday, just hours after announcing the pause, "and he made $900 million."

"That's not bad," the president added.

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[–] Milk_Sheikh@lemm.ee 8 points 6 days ago

You might have a point about retail investors vs ‘smart money’ institutions - if you ignore retirement funds.

That’s who they’re actually stealing from via insider trading. Both individual 401(k)s and state/industry run like the California Public Employees fund are in the stock market. Good luck asking your employer for an old school pension, where your retirement is secured, regardless of market change. YOU now hold that risk.

The people who don’t have Bloomberg terminals or the myriad of subscription news/insight feeds, are the ones hurt the most by this kind of insider trading.