Wilbur
Ross, Trump's Secy of Commerce
(Age
81, Chicken Soup and Tariff lover)
Photo
above and related story from CNBC: In March, Commerce Secretary Wilbur Ross held up
a can of Campbell’s Soup to demonstrate how benign the effects would be of
steel and aluminum tariffs.
In an earnings call, a Campbell official held up the tariffs as a negative factor in
the company’s future profitability.
Ross made the argument during a CNBC appearance, shortly after the administration had
announced it would slap a 25 percent levy on steel imports and 10 percent
tariff on aluminum.
Responding to fears that the duties would be inflationary, Ross said they actually would have little
effect on prices, even in a worst-case scenario.
The main post for today: This breaking
news story comes from Forbes * story by Dan Alexander. It is both shocking and startling
to say the least depending on how much is factual (still on-going results
pending).
But first, the definition of Grifter: “A Grifter is a
con artist who swindles people out of money through fraud after having gained
their trust and then deceives and cheats them out of their money.”
Introduction: A multimillion-dollar lawsuit has been
quietly making its way through the New York State court system over the last
three years, pitting a private equity manager named David Storper against his former boss: Current Secretary of Commerce Wilbur Ross.
The
pair worked side by side for more than a decade, eventually at the firm, WL
Ross & Co. — where, Storper later alleged, Ross stole his interests in a
private equity fund, transferred them to himself, and then tried to cover it up
with bogus paperwork.
Two
weeks ago, just before the start of a trial with $4 million on the line, Ross
and Storper agreed to a confidential settlement, whose existence has never been
reported and whose terms remain secret.
It
is difficult to imagine the possibility that a man like Ross, who Forbes estimates
is worth some $700 million, might steal a few million from one of his business
partners. Unless you have heard enough stories about Ross.
Two
former WL Ross colleagues remember the commerce secretary taking handfuls of
Sweet’N Low packets from a nearby restaurant, so he didn’t have to go out and
buy some for himself. One said workers at his house in the Hamptons used to
call the office, claiming Ross had not paid them for their work.
Two
other people said Ross once pledged $1 million to a charity, then never paid.
A
commerce official called the tales “petty nonsense,” and added that Ross does
not put sweetener in his coffee.
There are bigger allegations. Over
several months, in speaking with 21 people who know Ross, Forbes uncovered
a pattern: Many of those who worked
directly with him claim that Ross wrongly siphoned or outright stole a few
million here and a few million there, huge amounts for most but not necessarily
for the commerce secretary.
At
least if you consider them individually.
But
all told, these allegations —which sparked lawsuits, reimbursements and an SEC
fine — come to more than $120 million.
If
even half of the accusations are legitimate, the current United States
Secretary of Commerce could rank among the biggest Grifters in American history.
More
Story details continue at the Forbes site.
My 2 cents: I
guess Ross get added to Trump “I only hire the best” list and thus Ross is not
long for his job at Commerce? Time will tell in that regard.
What is more amazing that with all we know thus far is that Donald J.
Trump will surely reign as the biggest, greatest, or best ever (to use his own descriptive words) con-artist,
crook, grifter, con-artist, hustler, swindler, bilker, cheater, and liar in
American, if not world history.
Shame on those who fell for his game and voted for him, but far worse, shame
on those who still stand by and with him calling all this, just as he does, “Fake
News, a Hoax, or Witch Hunt.” That is the worst part.
Thanks for stopping by.
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