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Reagan’s budget director: Trump is the ‘biggest sucker’ for listening to steel industry ‘crybabies’ on trade

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David Stockman, Ronald Reagan’s director of the Office of Management and Budget, on Thursday called Donald Trump the “biggest sucker” for listening to steel industry “crybabies” and “their tails of woe.”

Stockman was speaking with CNN’s Wolf Blitzer about Trump’s decision to levy tariffs on imported steel and aluminum, a proclamation the president will  reportedly sign Thursday. Stockman called the tariffs a “fig leaf for rank protectionism” that focuses on the “wrong industry” for the U.S. economy.

“I know you’ve been working on these issues for decades, what does it say that the administration has had such a rocky rollout of these tariffs?” Blitzer asked Stockman.

“It’s typical,” Stockman replied. “The steel industry are the crybabies of the beltway lobby farm. They gang tackle every new president that comes in with their tale of woe, and in this case they’ve got the biggest sucker yet.”

“This whole thing is a giant mistake,” he added.

Stockman explained “steel is the least of our problems,” declaring, “the argument that we need this for national defense is actually ludicrous.”

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“This is a figure leaf for rank protectionism that’s focused on the wrong industry because there’s so much excess capacity for steel in the world that there will never be a shortage, and we’re just barking up the wrong tree,” Stockman later said. “The problem isn’t bad trade deals, the problem is bad money at the Federal Reserve System and in the central banks of the countries that have been suppressing their exchange rates. that’s the problem.”

Asked by Blitzer who he was calling the “biggest sucker,” Stockman replied, “the one in the Oval Office.”

“That’s the one I’m talking about,” Stockman said. “I mean, somehow he thinks that a 17th century version of mercantilist trade policy is going to make America grow again. That isn’t remotely correct, and he should be focusing on the problem.”

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Trump leveled by retired general for making Iran war decisions based on advice from Fox News hosts

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During a panel discussion on the increased tensions between the U.S. and Iran after a drone was shot down by the Middle Eastern country in international airspace, a retired general claimed he was worried about Donald Trump's response based upon who it appears the president listens to when it comes to advice.

Speaking with host John Berman, retired Lt. General Mark Hertling warned that the shootdown was a dangerous provocation.

"It's huge, John," Hertling explained. "You can go all the way from backing down completely to a full-scale war -- that's what's dangerous about this situation."

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DOJ money laundering probe of Deutsche Bank includes Kushner transactions: report

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The U.S. Department of Justice (DOJ) is conducting a criminal investigation of possible money laundering violations by Deutsche Bank, and the New York Times is reporting that the probe will include taking a look at some 2016 transactions involving Kushner Cos. — the business owned by the family of Senior White House Advisor Jared Kushner, President Donald Trump’s son-in-law.

In banking, reports of possibly suspicious activity are known as “suspicious activity reports,” and the DOJ is investigating why Deutsche Bank prepared such alerts for activity involving Kushner Cos. but did not file them. A key figure in the DOJ’s investigation is whistleblower Tammy McFadden, who helped prepare suspicious activity reports for Kushner Cos.-related transactions. McFadden is a former compliance officer for Deutsche Bank.

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2020 Election

Joe Biden promises to answer questions about his son’s overseas business dealings — after he’s elected

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Joe Biden refused to answer questions about his son's overseas business dealings.

The Democratic presidential frontrunner has been criticized for conducting diplomatic work as vice president in countries were his son, Hunter Biden, was engaged in business, but he refused at two campaign stops Monday to take questions about the controversy, reported ABC News.

Instead, his campaign promised that Biden would issue an executive order "on his first day in office" to "address conflicts of interest of any kind."

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