by Pam Martens and Russ Martens, Wall St On Parade:
Donald Trump is increasingly looking like Wall Street’s back up plan in the event that the Wall Street Democrats didn’t triumph in the 2016 election. Trump has appointed two Goldman Sachs alumni and the current President of Goldman Sachs to top posts in his administration. On Monday, Trump announced that Vincent Viola, a billionaire who spent the bulk of his adult life trading oil and gas futures on Wall Street, would become Secretary of the Army – at a time when tens of thousands of service members rely on food pantries to get by. Forbes reports this about how Viola gets by: “Viola owns a 20,000-square-foot townhouse on the Upper East Side of Manhattan, near Central Park. In December 2013 he listed the home — complete with a giant red bow tied across its facade — for a staggering $114 million. He later quietly reduced the price to $98 million before pulling it from the market.”
Curiously, the New York Times called Trump’s nominee for Secretary of the Army, a “retired Army Major.” That phrasing suggests Viola had a long military career including battle experience. In fact, Viola achieved his rank of Major in the reserves. Shortly after graduating West Point nearly 40 years ago, the Wall Street Journal reports that Viola only served “several years” of active duty in the 101st Airborne Division at Fort Campbell, Kentucky.
According to Federal Election Commission records, over the past 14 years, Viola has kicked in over $300,000 to both Democrats and Republicans and their committees. The images attached to those filings show that he has repeatedly listed his career as a “commodities trader.”
Apparently, in Trump’s view, having Wall Street run the U.S. Treasury Department and his economic team is no longer adequate. (See related articles below.) A high frequency trader will now govern the largest branch of the U.S. military.
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