Why was Bessent privately briefing JP Morgan?

[Anonymous]

I miss having an administration that follows conflict of interest and insider trading rules and which didn’t announce policy changes via private events for rich investors.

From Paul Krugman’s blog…

What the hell was the Treasury secretary doing giving a closed-door briefing on a significant policy change that hadn’t yet been officially announced? Isn’t that a setup for large-scale insider trading? Indeed, attendees at that conference surely made market bets before Bessent’s remarks became public.

And since when are major policy announcements by government officials made off the record to closed private-sector meetings? One even wonders whether Bessent was announcing policy or making it: Did Trump back him up only after the fact?

The content of his remarks aside, what was Bessent even doing at this event? Senior government officials aren’t supposed to be helping investment banks entertain their clients.

Was Bessent paid for his appearance? That would have been inconceivable under any previous administration, but now God knows. Or are we now entering an era in which companies that do favors for Trump and co., either in the form of money or support for their policies, get lucrative insider briefings?

[Anonymous]

Seeking out conflicts of interest and openly providing notice to your friends before making policy changes are what Trump enjoys most about his job. I'm sure he is gleeful about the possibilities of crypto.

Those of us in the lower 90% wonder how this is legal but then remember that we're in America and this is how the system works. We pretend that laws and policies control this behavior but 2025 has revealed that the wealthy elite are fine with it.

[Anonymous]

Anonymous wrote:Seeking out conflicts of interest and openly providing notice to your friends before making policy changes are what Trump enjoys most about his job. I'm sure he is gleeful about the possibilities of crypto.

Those of us in the lower 90% wonder how this is legal but then remember that we're in America and this is how the system works. We pretend that laws and policies control this behavior but 2025 has revealed that the wealthy elite are fine with it.

Agree but it’s really anyone in the bottom 99%. Anyone working for their money. They try to divide people, but that’s really what it comes down to, regardless of income. Doctor, small business person etc making $500k is not insider trading either.

[Anonymous]

Anonymous wrote:Seeking out conflicts of interest and openly providing notice to your friends before making policy changes are what Trump enjoys most about his job. I'm sure he is gleeful about the possibilities of crypto.

Those of us in the lower 90% wonder how this is legal but then remember that we're in America and this is how the system works. We pretend that laws and policies control this behavior but 2025 has revealed that the wealthy elite are fine with it.

Not really.. There are hidden crimes and open crimes. This administration does the latter and no one seems to care..