A merchant on the soil of the New York Stock Exchange.
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Spencer Platt / Getty Images North America
Wall Street has been whipped for more than a week by each word by President Trump on prices. Now he faces charges to use his power to deliberately manipulate the markets.
Control began with a story of two social media stations. Wednesday, shortly after the opening of the US stock market, Trump Published on its social network Truth In all caps: “It’s time to buy !!!”
Less than four hours After his message, Trump said on Truth Social that He would stop The hardest part of its prices on most countries.
Stocks immediately arrang in reliefWith the DOW closing nearly 3,000 points – which means that all the investors who followed Trump’s advice in the morning and immediately bought on the stock market would have made a lot of money by the end of the day.
Before his post, the share price had dropped for daysAs fears have shown economic damage that Trump’s new trade policies could cause. Powerful investors and billionaire business leaders had More and more public Love their concerns about the new prices and the resulting financial panic.
Trump seemed to hear them when he set out on Wednesday afternoon.
Now, some Democratic legislators and government ethics experts are calling for investigations to find out if Trump tried to deliberately manipulate the markets or allow others to trade in initiate information.
Senator Adam Schiff, Democrat of California and Ruben Gallego, Democrat of Arizona, sent a letter Wednesday at the White House, asking for “an urgent investigation to find out if President Trump, his family or other members of the administration are committed to the offense of initiate or other illegal financial transactions, informed by advanced knowledge” of his tariff policy changes.
Senator Elizabeth Warren, Democrat of Massachusetts, also called For an investigation, asking on the soil of the congress if it was “corruption in sight”.
The White House spokesman Kush Desai accused the Democrats of “playing partisan games” and told NPR that Trump’s early post was simply intended to calm investor fears.
“” It is the responsibility of the President of the United States to reassure the markets and the Americans about their economic security, “he wrote in an email statement.
Former George W. Bush’s ethical lawyer said such declarations would have led to a dismissal
But the criticisms of Trump’s two social publications of truth are not limited to his partisan opponents.
“We cannot have senior officials – including the President – talk about stock prices and where to buy or sell at the same time as they make and announce decisions that have a dramatic impact on stock prices,” said Richard Painter, law professor at the University of Minnesota, who previously was a lawyer in chief ethics of President George W. Bush.
If someone in the Bush administration had made similar public statements urging people to buy or sell stocks, Painter added: “This person would probably have (would have been) dismissed.”
Painter did not corne the market manipulation president: “We have no clear evidence here,” he told NPR.
But he stressed that the president already had history of push the limitsat the very least.
“Financial conflicts of interests for President Trump were a concern Since he was elected for the first time in 2016, “said Painter, adding that the problems today are even more important.
Trump Embraces the cryptography industryFor example, drew Careful examination: The president, who has a growing personal portfolio of companies related to cryptocurrency, has appointed Officials of Caminet Pro-Crypto And promised the industry a very friendly regulation.
It is up to the dry to investigate the accusations of negotiation of initiates
Despite large -scale calls to Trump’s social media’s social media investigations, Painter and others do not expect to see a lot of things happening.
Republican legislators who control both the Chamber and the Senate have shown little interest in choosing fights with Trump. Ethics experts do not expect many movements of the American Commission on Securities and Exchange, which is investigating the accusations of initiate.
Wednesday, the Senate voted to confirm Trump candidate Paul Atkins To direct the dry. And Trump in February signed a decree Applicating more power on independent regulation organizations, including the SEC.
A SEC spokesperson refused to comment on the issue.
