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Chomsky: Trump’s Wall Street cabal will crash the economy — and taxpayers will be left holding the bag

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Noted linguist and commentator Noam Chomsky warned that President Donald Trump’s decision to load up his cabinet with Wall Street insiders has put the U.S. on a collision course to another crash — and that taxpayers will once again be expected to pick up the tab.

According to an interview posted by AlterNet, Chomsky said one need only look at Trump’s appointees — including multiple executives from Goldman Sachs — who will roll back the type of regulations put in place after the 2008 crash and then the inevitable will happen.

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“Take a look at Trump and take a look at who’s appointed for the cabinet,” Chomsky explained. Treasury Secretary Steve Mnuchin, “comes from Goldman Sachs, a major investment firm where he was for almost 20 years.”

“As soon as Trump was elected, and since, stock values in financial institutions escalated to the sky,” he continued. Investors are “delighted he’s going to eliminate regulations, let them make more profit; of course, it’ll lead to another crash, but that’s somebody else’s problem. The taxpayers will take care of that.”

After his inauguration, one of Trump’s first executive orders was to direct federal agencies to report back within 120 days parts they believe of the Dodd-Frank financial reform law they believe should be jettisoned. Another tasked the Labor Department to halt work on a “fiduciary rule,” that would compel financial advisers to act only based on their clients’ best interests.

According to House Minority leader Nancy Pelosi (D-CA), “Instead of fighting for hard-working families abused by our economy, as he promised in the campaign, the president and his billionaire Cabinet have abandoned Main Street to enable Wall Street’s corrosive profiteering of the banks on the back of hard-working Americans.”

Fellow California Democrat Maxine Waters warned, “In Trump’s America, Wall Street comes first and Main Street picks up the tab.”

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DOJ dropping investigation into GOP senator’s stock trades ignites outrage: ‘Quid pro quo, baby’

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On Tuesday, the Justice Department ended its investigation into three senators accused of insider trading, including Sen. Kelly Loeffler (R-GA), all of whom sold stocks around the time they were receiving classified hearings on the coronavirus pandemic. Their investigation against Sen. Richard Burr (R-NC), however, continues.

There are some differences between the Burr case and the others, including that Burr admits to having ordered the trades himself whereas Loeffler says a financial adviser made the trades without her knowledge.

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Shock after Trump mused about taking insulin at White House event: ‘What does he have to lose?’

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During a press conference today, President Trump rattled off a statement that left quiet a few people once again scratching their heads.

"I don't use insulin. Should I be? Huh?" Trump said. "I never thought about it. But I know a lot of people are very badly affected, right? Unbelievable."

https://twitter.com/atrupar/status/1265381045978968064

As expected, many of Trump's critics on Twitter wondered what he was talking about.

I support free will. Let him take as many drugs as he wants. I mean, what does he have to lose?

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WATCH: Trump wonders if he should start taking insulin

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On Tuesday, at a press conference, President Donald Trump mused aloud whether he should start taking insulin.

"I don’t use insulin. Should I be? Huh? I never thought about it," he said.

"But I know a lot of people are very badly affected, right?" he added a second later. "Unbelievable."

Insulin is a crucial hormone the regulates blood sugar. People who are afflicted with Type 1 diabetes are incapable of producing it in their pancreas, and thus must administer it to themselves regularly through injections or pumps.

Watch below:

Trump muses about using insulin just for fun pic.twitter.com/PWvEhEcmTM

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