this post was submitted on 11 Apr 2025

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

submitted 8 months ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

22 comments fedilink hide all child comments

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.

all 23 comments

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[–] Asafum@feddit.nl 88 points 8 months ago (2 children)

Yes, but what did he DO for that money?

"Made a few phone calls. Moved money from one place to another. 2 1/2 billion, done."

Elsewhere in Fuckmerica:

"And why exactly do you think you deserve a $70k salary Mr.WithoutMeYourAssemblyDepartmentCollapses? That's an outrageous demand."

[–] JokeDeity@lemm.ee 3 points 8 months ago

Ha ha ha. I always feel like jumping off a bridge when people post money stuff on here. I made fucking about a 3rd of that busting my ass.

[+] pennomi@lemmy.world -25 points 8 months ago (4 children)

Making money from swings in the stock market is just stealing money from the people who didn’t choose as wisely.

[–] Blue_Morpho@lemmy.world 52 points 8 months ago* (last edited 8 months ago) (2 children)

There is nothing "choose wisely" about getting an insider tip from the President.

[–] Karyoplasma@discuss.tchncs.de 30 points 8 months ago (2 children)

Even if the average American got the same tip, there is no way they could have made even close that much.

You need to be a soulless parasite, grifting and leeching for decades prior to have the capital to cash in that big from an insider tip.

[–] Steve@startrek.website 4 points 8 months ago

Futures with intraday margin is a hell of a drug

[–] NarrativeBear@lemmy.world 1 points 8 months ago

With the fear of a resession or depression, many average Americans more then likely panicked and withdrew their investments understandable.

This caused the markets to go down, and then simultaneously allowed investors and trumps buddies to buy up stocks "at a discount".

Now the people hit the hardest are the ones that withdrew when the markets were already down.

Sell low and buy high is definitely not the recommendation.

[–] pennomi@lemmy.world 8 points 8 months ago

Yes, wisely was a poor choice of word. The intent of my post was on “stealing” not on “wisely”.

[–] Milk_Sheikh@lemm.ee 8 points 8 months 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.

[–] NarrativeBear@lemmy.world 4 points 8 months ago (1 children)

Sell low buy high is my motto.

Disclaimer: I am not a financial advisor, I am a ape.

[–] altkey@lemmy.dbzer0.com 3 points 8 months ago

You sound like a bear with identity crisis.

sorry

[–] Embargo@lemm.ee 39 points 8 months ago (1 children)

Give me a call when these guys face any real world penalties. The rest of us receive life crippling repercussions for much much less.

[–] HasturInYellow@lemmy.world 12 points 8 months ago

Luigi! Luigi, where are you?!?

[–] NoForwardslashS@sopuli.xyz 20 points 8 months ago

Obscene.

[–] Natanox@discuss.tchncs.de 11 points 8 months ago

There's hardly any better advertisement or even political activism in favor of democratic socialism than whatever this orange caricature of a human is doing.

[–] dependencyinjection@discuss.tchncs.de 10 points 8 months ago (1 children)

I think that the billionaires part really just reversed the drop when they were announced.

What we should be outraged by is the message on truth social that it’s a good time to buy. We should look at who bought before the news broke to profit on the way up.

[–] pelespirit@sh.itjust.works 6 points 8 months ago (1 children)

I think that the billionaires part really just reversed the drop when they were announced.

Why would you think that? He bragged about them making a shit ton of money while they were in his office. He obviously thought he had something to do with it and wanted them to "pay him back" somehow.

[–] dependencyinjection@discuss.tchncs.de 6 points 8 months ago

Because he’s an idiot, but I could be mistaken. As I said you should look at how bought right before the news broke.

[–] JokeDeity@lemm.ee 8 points 8 months ago

It's a joke to suggest anyone in American history has been a bigger crook. Easily the most corrupt president by miles.

[–] MonkderVierte@lemmy.ml 3 points 8 months ago

There's one time he doesn't lie and people get outraged.