Casting aside his usual humility, President Trump offered a few words about his relationship with the banking community. In a word, it’s fabulous. He’s friends with all of them; those he deigns to do business with would give their firstborns to hold onto his clientship. Those who do not are dying at the slight.
And he even did it himself; no delegation to John Miller for this important message.
But - and not to accuse the understated ten-of-billionaire of hyperbole or exaggeration - it seems many of those friendship may be of the imaginary variety.
While some bankers said they had a personal relationship with Mr. Trump, a majority of those interviewed about him said they had never met him, and either had not done business with him or would not do so because of past dealings that did not end well….
“His roots and connections on Wall Street are fairly shallow,” said Roy C. Smith, a former partner at Goldman Sachs who teaches finance at New York University….
Several bankers on Wall Street say they are simply not willing to take on what they almost uniformly referred to as “Donald risk.”
Another risk with dealing with Mr. Trump is his proclivity to sue. Deutsche Bank got a taste of his litigious side in 2008 when he sued it and a group of other financial institutions to avoid paying the $40 million that he had personally guaranteed on a $640 million construction loan connected to the Trump International Hotel & Tower in Chicago.
If he’s playing fast and loose with the truth here, could there be other things he says that don’t bear the closest relationship with reality? Will Mexico really gladly foot the bill for that wall? Will he be able to personally push each and every illegal immigrant in the country over that line before it goes up? Will he have the economy completely fixed by mid-February of 2017?
Much of what he is promising to do — on his own, and through congressional legislation — couldn’t be accomplished in the first 1,000 days of a Trump administration, much less the first 100….
“I will not say he can’t do anything, but it’s very unlikely he’ll be able to restore coal to where it was,” said John Deskins, director of the West Virginia University Bureau of Business and Economic Research.
Well, not with this kind of loser thinking...