TRUMPIAN CORRUPTION
Two articles perfectly capture the moment. One by Susan Glasser in the New Yorker, https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again , and a second by Franklin Foer in the Atlantic, https://www.theatlantic.com/politics/archive/2024/11/trumpist-oligarchy-big-tech-takeover-musk-bezos/680503/. This moment is far more dangerous than billionaire owners blocking their newspapers’ endorsements in the presidential election. These are individuals of vast wealth and conflictual interests throughout the federal government.
We are in a new American era, akin to the Robber Barons of the late nineteenth century. Rapid technological change has allowed a new ultrawealthy elite to emerge. Like their predecessors, they wield near monopolistic powers in their newly emerging and rapidly growing industries. Like their predecessors, they seek to control the levers of governmental powers to their own ends. https://www.theatlantic.com/politics/archive/2024/11/trumpist-oligarchy-big-tech-takeover-musk-bezos/680503/
Trump is offering them a corrupt bargain “you help elect me, and I’ll see your interests are protected and advanced on issues like personal and corporate taxes, regulations (more specifically lack thereof), antitrust litigation, crypto-currencies, competitive advantages, and government contracts with your companies”.
What happens to any other politician when you allow yourself to be bought and sold to the highest bidder? In Orange County, Republican Supervisor, Andrew Do recently pleaded guilty to bribery. https://www.justice.gov/usao-cdca/pr/orange-county-supervisor-agrees-plead-guilty-bribery-conspiracy-involving-10-million#:~:text=Andrew%20Hoang%20Do%2C%2062%2C%20agreed,Santa%20Ana%20later%20this%20month. Anaheim’s City Council President pleaded guilty to federal corruption. https://apnews.com/article/angel-stadium-sale-anaheim-mayor-corruption-plea-68a06f9bd500bf5349da7595e6aaa79a In Los Angeles, City Councilor and ex-Supervisor Mark Ridley Thomas was convicted for bribery and fraud. https://apnews.com/article/angel-stadium-sale-anaheim-mayor-corruption-plea-68a06f9bd500bf5349da7595e6aaa79a Los Angeles City Councilors from both parties were recently found guilty of corruption. https://calmatters.org/commentary/2023/06/los-angeles-city-council-scandals/ The Mayor of New York, Eric Adams, has just been charged with bribery and campaign finance criminal activity. https://www.justice.gov/usao-sdny/pr/new-york-city-mayor-eric-adams-charged-bribery-and-campaign-finance-offenses
The ex-President of the United States was convicted of 34 felony charges for concealing his payoffs to porn star Stormy Daniels. https://www.politico.com/interactives/2023/trump-criminal-investigations-cases-tracker-list/ He faces 4 felony charges in federal court for his efforts to overthrow his 2020 election defeat. https://www.politico.com/interactives/2023/trump-criminal-investigations-cases-tracker-list/ He faces 10 felony charges in Georgia for his efforts to strong arm Georgia election officials to find him the requisite votes to overturn his loss and to submit a false slate of electors to Congress. https://www.politico.com/interactives/2023/trump-criminal-investigations-cases-tracker-list/ He faces 40 felony charges in Florida for taking, retaining and trying to hide classified documents; Judge Cannon dismissed this case, and it is now on appeal to the 11th Circuit. https://www.politico.com/interactives/2023/trump-criminal-investigations-cases-tracker-list/ If reelected, he has said he’ll immediately fire Jack Smith and order the Justice Department lawyers to dismiss all the federal charges against him. https://www.nbcnews.com/politics/2024-election/trump-says-fire-jack-smith-two-seconds-elected-rcna177025 He has therefore extra strong personal incentives to secure a victory in the 2024 presidential election.
After January 6, many of his fellow Republican billionaires disavowed him, called him a disgrace, and swore never to support him. That has changed; partly it changed because they could not stomach supporting the alternatives – then Biden and now Harris. Partly it has changed because of potential corruption between Trump and his new “benefactors” — more troubling quids and quos. Norman Peltz was the ringleader who brought many of the disaffected billionaires back to Trump – basically saying he’s a despicable guy, but he’s our only hope to beat Biden, then Harris. https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again
At a New York dinner for top GOP donors, hosted by Jose Fanjul and Steven Schwartzman, Trump circulated among the assembled billionaires, seeking their input on his choices for the vice-presidential selection. “’I’ve never seen anything like it’ the attendee marveled.’” https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again Trump raised $50 million.
“The amount of money sloshing around Washington is beyond any sense of reality. … It’s like a sandbox for billionaires and they treat it like a sandbox” https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again “(D)onors now expect more for their money. … ‘They’re less concerned about a photo op and a visit to the state dinner at the White House. … ‘They want to get their issues in the White House.’” https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again
Shortly after the 2016 election and Trump’s inauguration, Peltz was in the Oval Office meeting with Trump and presenting to Trump his bogus claims that the reasons the US Post Office was losing money were due to Amazon and Jeff Bezos getting preferential postal delivery rates and thus being an unfair competitor. It turned out that Peltz, an activist investor deeply engaged in stock control proxy wars, was in fact upset about Bezos’ acquisition of Whole Foods and its perceived threat to Peltz’ own investments in Proctor and Gamble stocks. Within months of their meeting, Trump was echoing Peltz’ unfounded claims and complaints about Amazon and Bezos costing the US Postal Service billions in revenues. https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again
Isaac Perlmutter, a successful businessman, has a table next to Trump at Mar a Lago. He and his two pals were installed by Trump as his de facto heads of the VA. They had no official role and thus no clearance by the Senate or any accountability, but any decisions made by David Shulkin, the actual head of the VA, had to be cleared by Perlmutter and his two Mar a Lago pals. Perlmutter had no experience with the VA, was not a veteran, no experience with government, but just a consistent history of generous donations in support of Trump’s political campaigns and super PACs. https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again
As President, Trump signed an executive order to ban the widely used, Chinese owned Tik Tok app unless it was sold to an American company who had better national security assurances for subscribers’ vital information collected through the app. When a bi-partisan bill was endorsed by the Biden White House to force the sale of Tik Tok this year; Trump campaigned against it. Steve Bannon explained the volte face “Simple, Yass, Coin.” It turned out that Jeff Yass, an American investor in Tik Tok, was contributing very large checks to PACs supporting Trump’s political campaign. https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again
Likewise, when crypto currency investors began to contribute to his campaign, he changed course 180 degrees from calling it a sham and a disaster waiting to happen, to endorsing and investing in it. Howard Lutnick, a very large donor, longtime friend, and co-chair of his Presidential transition team is credited with this remarkable conversion of Trump on his crypto Road to Damascus. https://www.newyorker.com/magazine/2024/10/28/how-republican-billionaires-learned-to-love-trump-again
These are simple harbingers of what to expect in a second Trump Administration. In the interim, the Supreme Court has insulated Presidents from any criminal consequences whatsoever for widespread, potentially industrial strength corruption while performing their presidential duties. https://www.supremecourt.gov/opinions/23pdf/23-939_e2pg.pdf