Forget the Dow, Trump Is About to Trigger Financial Armageddon

Inside the Hive

Vanity Fair

News

4.2 • 1.5K Ratings

🗓️ 8 December 2017

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Each week, the stock market reaches all-time highs, and Donald Trump takes all the credit. But is his insanity and destruction going to lead to a crash of biblical proportions, or possibly to a recession akin to 2008? My guest this week, William D. Cohan, a former banker-turned journalist, seems to think so. Hear him explain why Wall Street should be worried by the actions of the man they hate, and how everyday Americans are going to be affected. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	So I'm here with Bill Cohen in his upper west side apartment which I'm just gonna
0:10.3	intellectual's retreat I'm just gonna say this is a beautiful home beautiful artwork on the
0:14.2	wall which you clearly didn't get from your vanity fair salary because you were
0:18.8	a banker before yeah I spent 17 years as an M&A banker on Wall Street, and you're right.
0:27.0	This comes, these are the dividends of another career entirely.
0:31.1	Can you tell the servants to fetch me some pales of water?
0:36.0	Now this is the Upper West Side, Nick. We do things ourselves here. We have a doormand
0:41.9	that's about as nice as it gets here.
0:45.0	The trials and tribulations.
0:47.0	So most people go the opposite direction.
0:50.0	They become journalists.
0:51.0	They do that for a few years and then they go be the banker or
0:54.0	Goldman Sachs or something.
0:55.5	What made you go in this direction?
0:58.4	Well I sort of did that.
0:59.4	I was a journalist. You know, I went to Columbia Journal School, graduated in 1983 and worked as a reporter
1:09.0	on a daily paper in North Carolina for two years.
1:11.8	What was your beat?
1:13.4	I covered public schools, public education in Wake County, North Carolina,
1:18.2	which was a doubly ironic because I've never been to a public school in my life.
1:23.2	So they thought of me covering public education in Wake County,
1:27.2	which was a really interesting beat because there was a lot of controversy
	...

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