Trump's protocol is to break protocol: https://www.wsj.com/articles/one-year-in-trump-has-broken-all-the-rules-... (18 Jan 2018).
This latest episode is part of his pattern, not any substantive shock. He has failed to lead the way on much of anything resembling a success. These breeches will continue--while he angles for his Nobel Peace Prize that everyone thinks he should get.
He shouldn't have sent out that info early for the reasons cited in this article, but we are talking about America's Biggest Baby or our Toddler-in-Chief who always has to say, "Look at me! Look at me!"
Since he gave always top security information to the enemy agents aka Russia and placed our national security in HIGH RISK, and still does, his enablers probably do not let him read the daily intelligence briefings at all and Kushner, the co-chair of the Let's Make A Deal Foreign Policy Program for Trump Holdings, probably filters the info to him now that he got top security clearance, and WHY that happened to Mr. 'My Daddy-In-Law needs a secret and secure backchannel from him to the Kremlin now' advocate shows you how scary it is to be in America under Trump and his cabal right now.
6
The article should have mentioned that markets were not open at 7:21 AM when Trump tweeted, nor at 8:30 AM when the official release was issued.
2
Obama laid the foundation for the long reovery from the Bush-Republican recession. Now, trump will try to take credit. However, neither Obama or trump will take credit for the the fact that, although we have "full" employment, the jobs are low paying, with lousy benefits. The standard of living of most Americas has been stagnant since the socalled Trickledown Econimics policies of the Reagan Era and Republican Revolution. The American Dream has been a nighmare for four decades, and it will only gete woorse unitl we have a revolution, either at the ballotbox or in the streets. Bring it on ;)
4
The mainstream media are still caught up in the Trump hype just as they were during the 2016 campaign when they couldn't lavish him with enough camera time and free publicity. Often, during the evening talk shows the program would suddenly break in and shift to a Trump rally where he was selling wine, steaks and bashing the media which he hates, calling them disgusting and dishonest.
Now that the unemployment rate has dropped by 1% in the past 16 months we are still being fed the line that the economy is "roaring" and it's "hitting on all cylinders." Of course Wall Street is euphoric.
Why wouldn't they be after being handed a 15% tax cut that was the biggest gift for the richest 1% since the Bush-Cheney days when they passed the unfunded $1.35 trillion tax cut?
Reality check: Last week, the Commerce Dept. released the little-announced news that could be a warning sign for this Potemkin Village-Trump economy: ""The U.S. economy grew at a weaker 2.2 percent annual rate in the first three months of the year, as consumers and businesses slowed their spending.
Consumer spending slowed more than previously thought to an annual growth rate of just 1 percent. It was the worst showing in nearly five years."
Also, the percentage of working age people participating in the labor force fell to 62.7%, lower than the 62.9% it was in Obama's last month in office.
Now that unemployment dipped to 3.8% you don't hear Jack Welch screeching, "They cooked the books!"
1
a quick check with the recent past shows this simply not to be true.
1
You just KNOW he also told Donald, Jr., Eric, Ivanka, and his closest big-pockets-donors the details of the jobs report, so they could take advantage of the market. I hope someone is checking into the investment activities of the Trump Organization that day.
5
Trump’s acts and statements must be monitored in conjunction with market behavior explicitly positions, short and long, in the stock and commodities markets by anyone related to Trump. Anything less will give permission to Trump as the press did with his lies. Failure to report lies have resulted in 3400 lies so far. The credulity of world markets is jeopardized.
1
Reality check 400000 people retire every month from jobs pay living wage replaced with 230000 tempory jobs dont even pay for employee health care at the government expense. Mean while government spend billions on imports using are taxs from china. Incredible shrinking work force.
2
I'll bet there's evidence that many of his "friends" benefited from this insider knowledge. We know he moved the markets. He's a criminal, pure and simple. If it's not illegal, it should be.
4
Per the article:
"A spokesman for the Securities and Exchange Commission would not comment on whether the agency was aware of any unusual market activity before the report was released. The Commodity Futures Trading Commission did not respond to a similar request for comment."
With all our analytics capability, it's pretty hard to swallow we can't determine this. Who does the SEC work for? I thought the whole point of the SEC was to keep trading on the up and up, so people like me can't claim its rigged.
Unfair. (Where have I heard that before?)
3
Trump was elected because he, or more likely his henchmen, figured out a system to "break" the electoral college. There may (or probably) was additional help from hostile leaders of hostile nations, in addition to their scheme.
Dr M, you still don’t get it.
3
You wrote, "Letting the numbers leak, Mr. Furman said, risked undermining public confidence in the integrity of economic data."
And who is this important to Trump? Forget about it.
2
Favoring short term traders over long term traders by pre-releasing investment data is neither fair not very legal. The language Trump used in the Tweet was designed to eschew direct violation of insider trading rules by using coded terms, timing, and Trump was aware that his "friends" were waiting with baited breath for his Tweet. Trump didn't release numbers, he did worse: he released what the numbers mean and his early announcement was strong advice about how short term investors should act. He should not be pardonned for this.
He shot the starting pistol before the race was supposed to start so some runners could have the advantage and others, not. Unacceptable and clearly grounds, under the Constitution for impeachment. This kind of behavior is what "high crimes" is all about.
3
Is there any regulation or law making it mandatory that the Dept of Labor share the unemployment numbers with the executive branch prior to their formal release? Perhaps they can just forgot to pass the info along next month.
2
How exactly are insider trading rules violated when the president tweets to millions of followers, including representatives from the major media outlets, who immediately publish this information as news?
Smart investors always know how to quickly react to news stories and place bets, and always have an advantage over the rest of us with their analysts and algorithmic trading technologies, so how is this any different when everyone is probably getting access to the same news right away because of his broad following?
3
There will be a stage show after Trump gets the boot and one of the songs will be entitled "It's All About Me!" That's one thing we can be certain of regarding the worst so-called president in U.S. history.
If he breaks the law this much now, imagine how much he broke the law when his name wasn’t in the headlines every day and he had (relatively speaking) more privacy.
2
This president is not about to let a little matter of protocol stand in the way of an opportunity to brag about himself. His beliefs about the trade deficit suggest that he could not pass ECON 101, but that doesn't stop him from taking credit for the jobs report, and if he jumps the gun in doing so, all the better, as far as he is concerned.
The fact that he always dismissed jobs reports when running for president and claimed that they were doctored to hide high unemployment also doesn't phase him. The truth or falsity of data depend for him solely on his ego: if they serve his interests, then they are the truth, if not then they are lies. Most normal people would try to hide or explain away such inconsistencies; not this guy. His mind doesn't run that deep and he is devoid of any sense of personal responsibility.
The larger point is that he has no respect for the independence of government institutions, whether the DOJ or the DOL, the judiciary or the Fed. That is because of his personality: he cannot form the idea of what an institution is and what public accountability means, because for him, he is the only one who has ever mattered. Even though the presidency has enormous power, our system isn't meant to revolve around the caprices of a single man. But Trump is all caprice: a noxious, underdeveloped personality.
He is endangering all our alliances and also subverting our system from within. Americans need to wake up to the peril we are in.
2
I wrote before that both Trump and Obama should receive an official slap on the wrist. However, you can listen yourself to Obama's speech, starting at 5 min into it, is talking to a restricted audience, about an economic trend that is not reversing soon if government doesn't act in a resolute way
https://www.youtube.com/watch?v=3r4THo2GWQg#t=300
Trump is talking to a much larger audience and telegraphing nuances in an opposite trend.
Therefore the punishment/blame should be proportionate: less than a slap on the wrist for Obama; an official complaint for Trump.
6
Retire the phrase "Trump Breaks Protocol" when writing headlines, please. It's not news anymore.
16
I’d rather see Congress retire Trump. That would be good news!
1
Are these jobs that are well paying? Do people make enough money to sustain a decent life?
For all we know the numbers could reflect people taking on two part time jobs or three part time jobs to make ends meet, which would actually mean the numbers of 233000 jobs do not employ 233000 people.
19
Trump was elected because he “broke protocol.”
The New York Times still doesn’t get it.
11
Absolutely right. And his people love him for it.
A commenter writes, "I wish the Times wouldn't use euphemisms such as "breaks protocol". He broke the law."
I don't know, in fact, if Trump broke a law or merely once again broke with accepted norms. However, the commenter's point about the Times is well taken, whether or not it is appropriate in this case. As I commented to another article regarding Trump now saying he will meet with Kim: "I expect more from the Times than I do from Trump. Thus it is highly disappointing that the Times refers to this as a 'diplomatic breakthrough.' It is merely today's noise, no more a breakthrough than when Trump said the opposite awhile back, and then the opposite of that awhile before and the opposite of that awhile before that, ad nauseum......"
But this is nothing new. The Times still refers to "detainees" instead of prisoners, "enhanced interrogation" instead of torture" and "right to life" instead of anti-abortion. Trumps dissimulations and outright lies as well as portrayals of "fake news" and "alternative facts" is merely the culmination of a society-wide process going on for decades. After all, long ago people across the political spectrum accepted that a 2x4 was no longer 2"x4".
8
To continue with another, likely deliberately-ignored, term, the NYT calls it "abortion" instead of "anti-life."
2
He should be dealt with as a good parent would deal with any spoiled brat, restrict his access to advance reports in the future, and make that known publicly.
15
Classic Trump PR move.
Do something unethical to draw swing voter eyes to the article, then bait and switch them with the actual report.
PS - he's called the unemployment rate a hoax before - perhaps you should listen to him ........
10
How many of his cronies took advantage I wonder? Ryan & McConnell....any comments?
12
The success of the Trump Administration is killing the Liberal Democrats and the NYT's. This man is in the process of completing all of his campaign promises in spite of getting no credit. He has done more in a year and a half then Obama ever accomplished. Instead of looking under rocks for the bad, how about giving the man the credit he deserves. This is HIS accomplishments, not Obama's. His economic success is due to steps in deregulation and a great tax reform. Stop wringing your hands and clap for this man!
10
Really? Why believe anything a pathological liar orchestrates?
Has everyone gone mad to believe ANYTHING a certified liar says?
Where's Melanie?
9
POTUS is an endless source of novel law school exam hypotheticals. Is it “insider” trading if you tip off your over 50 million “insider” followers on your Twitter feed? Cue hyperventilating pundits on news channels.
10
Trump let the public know what the report would be an hour before it was public. How much lead time may he have given to friends, business associates and family members? More than the hour he gave his Twitter followers?
It seems to me that the only argument he could make against this being insider trading would be that the tweet WAS the official public announcement. And that would settle, once and for all, two important issues: whether the account is a private forum in which he may block people as he wishes (no) and whether every tweet he has issued since taking office can be considered as an official action, subject to the requirements of the Constitution and all applicable laws and regulations (yes).
1
We should be grateful that he read and seemed to comprehend his briefing.
1
If Trump has parted with protocol, and broken the Law with a little insider-trading, there is nothing you can do about it. Remember the words of this presidential oracle where Trump was quite at ease in stating that he could shoot somebody on Fifth Avenue and get away with it. The rest of us can stew if we don't like this. If Trump has violated the integrity of U.S. markets, he will be quick to dismiss this as small potatoes. At least The Jobs Report is encouraging, and hopefully nobody has been hurt.
2
Jobs report is not clear. This could be second, or maybe even third, jobs for people who cannot, in this economy, make a living wage on one job. Who knows??!! But the rate is not a whole different from that when Obama took office and had to cope immediately with the Bush Great Recession. Trump is working off an economic environment vastly different and stronger, thanks to Obama policies and actions.
2
trump should thank Obama for leaving him a strong vibrant economy. But I believe that we are at the tail-end of Obama's economic synergy, and with trump's perplexed tariff warfare - the economy's health now belongs to him. It's too soon to hear about domestic supply line disruptions, business closings, or lay-offs due to the lack of materials. I think now that the US is doing an about-faced and is heading into an unknown global economic battlefield of our own doing where anything can happen. Can't trump leave anything well enough alone?
3
Lies, breaking with traditions and other outright treasonous behavior are signs on the wall. Saying that the economy is doing great because of his stalwart economic policies is most deceptive.
4
The solution going forward is for the Bureau of Labor Statistics not to tell the president in advance of the official release. If the president can break protocol by front-running the official release, the agency can break protocol by not giving advance notice . . . . though that probably would get all the BLS people fired. Bring it on.
Nothing surprises me anymore with our President. To think The Good Fight's depiction of Trump was grossly unrealistic! I'd now say it's not realistic enough given current events.
2
Morally unfit in every way. Is there a single attribute to make him fit for this office?
2
Perhaps Mr. Muller can add "insider trading" to his list of items to investigate. This President is all about personal financial gain. Note, Mr. Comey prosecuted Martha Stuart.
11
Me, Me, ME-E-E!!! I did this, I brought on the jobs. That's what Trump cares about. Period. No worry over tampering with the nation's economic system. And forget about the fact that the job-increase juggernaut gained its momentum during Obama's eight years.
2
It is all a lie anyways. 1. how many have stopped looking? 2. With states that already have raised their minimum wages, it more than likely a growth in wages is false anyways. There are more than just two but I will let others think and write about more reason it is a lie.
Adam Scales is wrong: the President IS an employee, employed by the people of the United States of America, and draws a regular salary while in office. The regulation definitely applies to Trump.
4
If job growth is so strong and companies are reporting having trouble finding qualified people, why would the President choose now to impose those 25 % tariffs? Who is going to work these new jobs, or supposed jobs, in a revitalized steel industry? Immigrant workers?
8
Progressives care about a tweet.
The rest of us care about unemployment at an 18 year low, strong markets and growing 401Ks and 529s, our raises, our bigger bonuses, our climbing property values, our safer streets, our lower taxes, and the promise of bigger paychecks still to come.
I'm pretty sure there are more of us than there are people who are upset by Trump's tweet.
See you in November! I'm looking forward to reading all of those "what happened to the blue wave" articles the day after the election. It'll be like a redux of the day after the big one in 2016, and a foreshadowing of the day after the big one in 2020.
But there's really no need to spill that much ink trying to figure it all out. The answer to what happened is already being covered in articles like this - a strong economy, a safer world, and an opposition party that cares more about a tweet than putting Americans first so we can have more of both. For non-deranged, non-leftist voters whose mental stability isn't hurt by Trump's tweets, the choice between parties is pretty easy.
5
I wonder if you cared quite so much about the progress made when there was a black man in the White House. Remember what he inherited and what he left for the Creamsicle Clown?
The Clown didn't do this on his own. He likely had little to do with it, and maybe the economy has grown in spite of what the Creamsicle Clown has done.
9
Can we just a Labor Department report (or any report) in Trumpistan? Seriously, can he tamper with it?
3
I hope the authorities can track the trading activity of members of the Trump and Kushner families - and Trump-connected Russian oligarchs - between 7:21am and 8:30am on Friday morning. Come to think of it, they should track all the way back to the moment that Trump was alone with his cell phone after getting briefed on the numbers on Thursday night.
1
Oh dear! What will we ever do! The president released jobs report before it was released and the best we can do is call it "a blatant misuse of presidential power." We'll do what we always do with this poor excuse excuse for president we are so unfortunate to have at present, nothing. Imagine how safe we are with him regarding serious, intelligence and classified nuclear codes etc.
1
Didn't give anything away??? Given he is the worlds biggest show off he is hardly going to "look forward" to something that he can't crow about and take credit for.
Trump again did the right thing, During the Obama administration the information was only giving to a select few. Those people would get an advantage using the information to benefit and profit. Trump levels the playing field for everyone, only liberal corrupt democrats have a issue with this.
5
Does anyone think these impressive numbers would look this good if it were not for the hundreds of billions of deficit spending dollars that are being put on the national credit card to create these jobs?
We are living in a faux economy, but no one cares about that. Cut the tax base and keep that military industrial complex going with hundreds of billions going to the pentagon.
7
If any Fed employee with prior access to any economic statistic tweeted about it ( regardless of what was said) prior to its official release, they would be immediately terminated and investigated for insider trading. Trump created winners and losers illegally.
6
Thank you President OBAMA for the great job growth numbers! They are the fruit of your administration’s labors to get our country out of the awful recession caused by Wall St’s avarice.
14
The whole premise of the article, and the Cassandras quoted therein, is undercut by the grudging admission that Obama himself did the same thing, but even far more explicitly. Kinda makes the Obama officials quoted in the piece sound silly.
This heavy handed bias of the press, in part, was responsible for Trump's election. Continuing this is helping to re-elect him. I don't blame the press, though; you just can't help yourselves....
1
Actually, it was President Obama who laid all the groundwork for the successes of President Trump thus far. His eight years were so feckless in nature that they forced the public to elect Trump.
Kudlow told Trump about the jobs report on Thursday night. Shouldn't be too hard to get the records of his unsecured phones to see who, along with Trump, should be charged with insider trading.
1
I figure there's a pretty good chance that he did this because he's a compulsive boaster, couldn't resist the immediate impulse and had absolutely no clue about the context or ramifications of his action. And of course there is NO angel of good sense on his shoulder to stay his thumbs just long enough for him ask, anybody, "is it okay for me to do this?"
In other words, we can probably chalk it up to garden variety dopiness.
But that wouldn't make it okay even if he were a private citizen. And for the President of the United States... If you're ignorant of these things and you manage to get that job, you scale the learning curve, mister. No excuses.
Another important and worthy precedent shattered by Pres. Trump. How will we ever go back to the world of decency?
8
Just what did we expect from this President. Probably tipping off his cronies about the report so they could take stock action.
Disgrace, disgrace, disgrace!
Both President Obama and President Trump engaged in signalling. My wish is that the appropriate organ of the government issued an official slap on the wrist to both.
2
The Dept. of Labor publishes the initial numbers on job growth and employment, which is what economists count on, but what most don't know is the reports are revised after initial publication and subject to change on a monthly basis, and therefore aren't accurate.
Yesterday's up-tick on Wall Street is a temporary fix, but I'd be more concerned about the loss of U.S. jobs in the face of Trump's looming trade war, sure to have a negative impact on stock markets across the globe.
4
There have been a lot of announcements lately that would clearly move markets in a specific direction if known in advance (tariffs on, tariffs off, NK meeting, etc.), and for some time I’ve been suspicious that Trump has given advanced notice to help friends, relatives and associates, but I’m joe nobody, I hope someone is looking more closely at this than I can.
19
True to his style- always in a hurry to claim credit for what he neverexpected, let alone achieved, due to his inept handling of the economy and job hitting tariff regime.
15
trump shows that he is not fit for the office he holds on a daily, even an hourly basis. We just keep talking about it. It is a tragedy that this bag of self-serving corrupt intent became our president. It is a crime that he remains.
28
Trump's sycophantic Congressional enablers are every bit as foul as Trump himself.
1
Just like lying, philandering, and making America an oligarchy is ok now,apparently breaking the rules on pre-releasing sensitive economic data ahead of standard timelines in now OK folks, Get over it. America, you broke it you bought it.
12
I wasn’t even browsing. In fact I intentionally avoided the aisle knowing the product was dangerously defective. Somebody slipped it in my basket when I wasn’t looking.
2
"You all are about to get a whole lot richer"...
3
Schrödinger's Trump: Too stupid to tie his own shoes, yet intelligent enough to manipulate the markets with a single well-time Tweet.
5
(embargoed till 3 AM)
Under #FakePresidentObama interest rates went below zero! In next US jobs report unemployment rate goes below zero!! But pulleez - no betting!!! Not a casino we're running here!!!! Tried to hire WH greeters - no takers!!!!! In 2020 tax rate on billionaires goes below zero!!!!!!
5
OK, so Trump said he was looking forward to seeing the numbers but said nothing more. And people"may" have done some trading based upon this tweet. And maybe not.
One has to admit that the economy IS doing well and unemployment, especially for people of color, is definitely at a very low point.
Sometimes you have to take the good with the bad and let God deal with the man upon judgement day.
1
There's one word for it: Blabbermouth. Trump is like a 4 year old hanging around with the older kids who can't wait to run out and tell everything he "knows". But because he has no clue what he is talking about, look at the havoc he is wreaking with markets, our allies, and now - domestic agriculture.
Is he savvy to protocol? Hardly - destructive to our nation's economy and wellbeing is more like it. Vote the bum out.
16
I am prepared to acknowledge that many Americans who voted for this irresponsible and dishonest man did so because they were dissatisfied with the alternatives. But, at this point anyone who still believes that Trump is an honorable and honest person is demonstrating a serious lack of understanding of this country and its governing system. Who can state with confidence that his actions are not intended to benefit friends, family, supporters, etc., to the detriment of anyone else? Every day brings another astonishing breach of a shared common agreement that we share standards of comportment and behavior that Trump scorns through his actions. I guess we will get through this, but the cost may be enormous.
29
It’s quite possible this comment will telegraph my own ignorance in a way that I can’t foresee (due to said ignorance), but doesn’t insider trading require that the party doing the insider trading have information that isn’t publicly available? And isn’t a presidential tweet the epitome of publicly available information?
7
Now I understand wack-a-mole. The harder you slam Trump in one spot the harder the good news he’s caused pops up somewhere else. Pesky unemployment numbers, worse than rodents.
6
When he breaks the law, I wish you would report it as such.
5
Check to see which Trump family and friends were buying or selling in advance of the jobs number report. Investigate and prosecute. Repeat.
9
Not in advance of the numbers, but in advance of the tweet.
1
Wow, you guys are really, really, really trying to make something out if nothing. Instead of reporting on the great jobs numbers and the lowest unemployment rate in 18 years, you make up a “violation” and that is your headline. The president said he was looking forward to a report. He tweeted it to the entire world so no one got any inside information. The who issue of insider trading is someone getting actual information on specific companies that allows them an unfair advantage. When information is publicly announced by definition there is no possibility of anyone having an advantage. And even if he had announced the actual numbers would not be breaking any laws. He is the head of the exective branch. If he wants to announce something that people who work for him normally handle, that is his right. You guys need to get over the fact that Nr. Trump is the President, that he is really making America great and that the American people are fed up with the “swamp.”
6
Surely no one would object if records were scrutinized in an effort to see if anyone in the Trump family personally was involved in futures trading today, would they? "Trust but verify" used to mean something to the GOP. Let's see if it still does.
10
I would not be surprised to learn that Trump telegraphs his every forthcoming financial market disruption to his sleazy band of hangers-on.
6
This is the same guy that has abused his office to try and damage one of the most successful employers in this country AND simultaneously damage the United States Postal service over a personal vendetta against it's CEO and free press. He is like an out of control lying evil toddler.
12
This has to do with possible violation of White House policies and regulations or laws on how confidential information is disclosed and not so much insider trading. As such, market regulators, such as the SEC, don’t enforce those rules and laws. Certainly the SEC can investigate any unusual trades made for possible insider trading. In any case, this is a serious breach in protocol (NYT is correct in using this) and possible cause of market disruption. Will there be a big sell off if there is not a comparable tweet the next time.
2
“... drew swift condemnation”?
Aren’t we being a tad hyperbolic here? Of all the horrific things Trump and his administration have done and said, this is the last thing I would condemn them for. C’mon folks ... big picture.
3
I'm sure trump's buddies such as Carl Icahn and Vladimir Putin would be interested in any insider info from Trump before he tweets things that influence the stock market. Or maybe it's totally innocent LOL.
Those who accuse the President of "insider trading" should first tell us what insider information was involved. The President's tweet was certainly not insider information because it was public information the moment he published the tweet. The unemployment numbers could constitute insider information prior to public disclosure, but the President's tweet made absolutely no mention of the unemployment numbers. Even if the tweet had disclosed the numbers prematurely before they were officially released, that information would also have immediately become information when published. So many liberals completely discredit themselves by crying "Wolf!" and trying to find a crime in everything the President does.
3
but of course he did, he can't help himself, bragging rights, all sbout him, Narcisstic Egotist, what can he do wrong that the Rebublican party won't over look? kill somebody on 5th ave in NYC?? hmm..I hate the way he has changed what the "norm" is thses days, sickening isn't it
3
Anything to draw attention to himself. Narcissism on steroids.
Can POTUS really be this clueless? His nod to a good jobs report one hour before its publication created a massive opportunity for opportunistic trading. The SEC should investigate this matter.
3
“Breaking Protocol” might as well be his middle name at this point.
2
Broke protocol? C'mon, guys. He broke the law.
Why are you treating this despot with kid gloves?
3
If you look at the "tape" for the S&P 500 futures last night and this morning, you can notice two things:
1) Around 8:59pm, the E-mini futures started to rise after they'd been flat or lower for over 3 hours. Was this when Kudlow told Trump who shared the info with others?
2) At 7:21am when Trump made his tweet, the volume of E-mini futures spiked 7X from the previous minute and rose slightly until a quick drop at 8:30am after which it stayed down until about 8:50 when it actually commenced the big rally. I'm not sure why the market didn't immediately celebrate the good news and it took 20 minutes for it to decide to go higher.
It is hard to prove if insider information was used. Though it does seem beyond tempting if you know the real numbers twelve hours before the official release and futures are flat or down. You just buy every dip and wait for the positive spin to be disseminated across the media.
1
In my last 30 years of unemployment, I've never done anything to be counted as unemployed. The real measure of employment is the age-related participation rate.
Donald,
Thank President Obama for saving the US economy from the damage inflicted on it by President Bush and his Republican supply side lackeys that demolished this nations's economy.
"My G.O.P. destroyed the U. S. economy" (David Stockman, President Ronal Reagn's director of the Office of Managment and Budget)
17
More proof that the biggest leaker in the government is Trump himself.
31
The man thinks he is a king - and an absolute monarch at that - not a president answerable to a Constitution and the rule of law. It is up to the Republicans in the House and Senate to reel him in and reclaim our government. If they do not, our future is bleak.
BTW, have a look at today's Page 1 picture of the President on the White House Lawn. He looks as if he had no clue what was happening before him and could not have cared less. Woe is us!
14
How many of these jobs are related to rebuilding the cities hit by natural disasters?
4
...or charging $1.5 trillion to the national debt to goose the economy though the fall election.
2
Trump wears "condemnation" like a badge of courage.
12
People in the financial services industry regularly go to prison for insider trading. Trump and his family of grifters should be joining them soon.
25
I'm quite sure no one named Carl Icahn, Scott Pruitt, Wilbur Ross, or Rudy Giuliani benefited from this insider trading information at all.
Looking forward to seeing the exit poll numbers this November 6th!
12
"possible insider trading concerns" Insider trading? He said this on Twitter, to his 50 million followers, news which was immediately broadcast globally. I mean, to everyone around the world. Yeah, this is real "insider" stuff, all right. Possibly only the Martains were left out.
9
Trump told the others in the conspiracy before today that he would tip the report an hour early. They timed the market flux and profited. Trump gets a fee. You and the Martians and everyone else Trump did not tell got left out. He belongs deep inside a federal prison for the rest of his rotten life.
Perhaps you should understand what 'insider trading' means before commenting.
In case you can't actually figure this one out:
1) tell someone you're going to tweet something manipulative, say headfake tariffs on a specific sector, or job numbers.
2) wait a few while they tee up transactions.
3) tweet.
4) profit.
4
Much to do about nothing. Are media outlets now enraged over a government leak be it the president himself?
I say President Trump was quite confident the labor numbers were going to be excellent due to his policies and he was exhibiting that confidence.
2
Trump has been doing this ever since he his inauguration. He affects the stock market regularly with his suspicious tweets. I pointed this out last year.
7
This latest example of "sharing" information is why our allies are now leery of sharing info classified information with the President. If he thinks it makes him look good or he can score some point, he cares not at all what the ramifications are.
5
This is ridiculous. Nothing was given away. I look forward to many things and say so in advance. Doesn't mean a thing. The jobs report in the case of the current US economy was also highly likely to be good, hence the President could feel good about its likely positive outcome. Any president would have had the same confidence in this situation. This is another example of political bias in the media. Get over it and enjoy the good times.
8
of all of the horrors I associate with Mr. Trump, this one seems like it is among the least of them. If the numbers were final when he saw them, other than breaking protocol, what is the actual damage? Would his friends make billions on the information by betting on the outcomes against people who didn't know they knew the results already?
3
It was not for him to decide. It is the law.
3
Trump leaked 'material non-public information' -that is against the law...not protocol, the LAW.
12
Enjoy it this month. Those tariffs are going to start whittling away at employment.
4
I was a designated insider when I worked in corporate finance and we were expressly forbidden from sharing any information about the company for a designated period before and after an earnings release. Even a smiley face could be considered insider information; it didn't have to be specific to the numbers. There is no gray area where insider information is concerned and it is unfortunate that we cannot apply the "up to and including termination" standard I was subject to, to the current occupant of the White House.
8
Yet another thing the president can do with impunity but anybody in the private sector would be fired for.
6
The man will violate any norms, rules, institutional safeguards, ethical standards if it is beneficial to him personally. The man should not be anywhere near the presidency of the United States.
16
What a story; Trump Breaking Protocol. I just wish a credible journalist would shine the light on those 200,000 jobs and the eighteen year "low" unemployment rate. Who cares that unemployment rates among minorities and seniors in many areas are [still] in double-digits? Who cares that Georgia's minimum wage is a luxurious $5.15 per hour and Alabama, Louisiana and Mississippi t don't even have one? Who cares that millions of "fully employed" are food stamp eligible? Let's divide that 200,000 by 50 states and thousands of counties and cities; then let's take a look. Who then cares about Trump "getting ahead" of the official release?
13
With the level of unemployment related to layoffs that will be realized if foreign car dealers suffer a loss of revenue here in the U.S. tied to Trump's sanctions, we're going to need a lot more jobs.
2
No wonder he wants to pardon Martha Stewart. Insider trading is insider trading. Can someone please arrest the President? Or at least take all his money away. Trump is the epitome of what one should not do or be,but he is President.
10
If he is so eager to brag about this information to the public - information that is supposed to be kept secret until the last second - what other secrets might he be bragging about behind closed doors to powerful people he wants to impress, like business leaders or foreign powers?
6
"the tweet raised possible insider trading concerns"
Really? How about all the other tweets where he targeted specific companies by name (most recently Amazon), and those stocks took an immediate dive?
Trump has hacker-access to an inside trader's cash machine. Make no mistake - He knows this.
9
This tweet makes me even more convinced that Trump's daily seesawing tweets, especially regarding economic issues, are just done to add volatility to the market and siphon the money. Is this a possibility or am I just a skeptic of everything he does?
7
[The economy was shedding jobs rapidly in the depths of the Great Recession and Mr. Obama, pushing for passage of an economic stimulus bill, told a congressional Democratic retreat that “Tomorrow we’re expecting another dismal jobs report, on top of the half a million jobs that were lost last month, on top of the half a million jobs that were lost the month before that, on top of the 2.6 million jobs that were lost last year.”]
This of course actually signals nothing. Because he was trying to pass an economic stimulus bill, Obama would have said “tomorrow we’re expecting another dismal jobs report" (which was true) regardless of what he knew the actual report was going to say.
1
This sort of behavior and practice is in furtherance of testing the limits of what this president thinks he can do. With a compliant Congress, it appears just about anything.
5
Meanwhile, as Trump and his ilk enrich themselves due to the blabber-in-chief's eagerness to "share the good news story about jobs" (wink, wink, nod, nod), the UN
will release a scathing report this month on inequality in the U.S. due to Trump's systematic attack on the welfare system
UN special envoy, Philip Alston, who is a global watchdog on extreme poverty, says Trump Administration policies seem deliberately designed to take away basic protections for the poorest in the nation (e.g. food and access to health care).
Rather than try to lift people out of poverty, Trump is dragging more people into financial ruin. The worse action to date being the rob from the poor/give to the rich $1.5 trillion tax cut.
But it's great news about the labour market, eh?
8
Breaking protocol? He may have broken the law.
6
It is an autocrat or dictator of the worst kind and narcissism seems to go hand-in-hand with all. The Bureau of Labor Statistics (BLS) puts out the numbers. Orangeaid used the guarded information to artificially inflate him and inflate his ego.
What is too often overlooked is the calculation of the employment rate can be and is changed. I asked a
world-known economist this years ago (@2007) because I
saw high unemployment but the numbers from the BLS didn't = what I saw and was experiencing in my work field.
So, when were the calculations last changed - during this regime? I don't know. What I do know is a lot of people have retired, some portion pushed out of their jobs have returned to 2 or 3 jobs and the calculations never accounted for those numbers. To me, it was a ridiculous excuse. I was a manager and you can calculate the missing information within a buffer (range).
We don't know what the basis for theses numbers are. We do know companies are hoarding money and not passing it on to employees, the country is beyond corrupt and we are a banana republic, and nothing from this regime can be trusted.
7
And what did he give away last night to his buddies, undoubtedly more explicit than his morning pre-release tweet? That would be an interesting lead to follow - who of his contacts after his debriefing last night showed a sudden market enthusiasm in after-market trading?
9
Breaking with protocol can sometimes be a good thing. I am not for Trump but one thing that his election has shown us is that we are tired of career politicians and took a chance on anybody but one in the last election.
6
This was not "breaking protocol." The headline is misleading. As detailed in the article, this is a violation of regulations established in 1985 by the Office of Management and Budget to prevent the premature release of data that could affect the financial markets. This is comparable to insider trading - a career politician, indeed any professional, would know better. And I doubt that most Trump voters believed that taking a chance meant voting for a self-absorbed amoral liar.
9
I understand but given a choice between a career politician and the criminals flooding into Washington and the destruction of our country (and believing HRC and she got everything right about what this thing would do to us), I opted for a career politician - it was safer.
With the massive influence and war and hacking by Russia, the things invading our country weren't elected by the people. "It" won nothing but accomplished a lot.
5
And look where this is leading -- an erosion of democracy and rule of law. Hardly "a good thing."
9
A person of color is accused of stealing a piece of fruit and they’re hauled off to jail in the blink of an eye, to be tangled up in our court system for God knows how long even if they’re innocent. But our President signals the job numbers to his rich buddies before market open and nothing happens.
The term “equal justice under the law” is a farce. It’s about time our kids are taught how things really work in America instead of the fiction in their school texts. No wonder so few have any faith in our institutions.
52
What does he care about the law? The more he shows his disdain for the law, the more his people love him. Remember, his crowd is the crowd of Ammon Bundy, who led an armed insurrection against a federal agency. So please, an early tweet? Come on Donald, you can do better than that, can't you?
8
So when do we start telling it like it is? When does "broke protocol" become "manipulated markets" or at least "tried to take credit for"?
19
Hasn't Homer Simpson violated Twitter's Terms of Service Agreement by this point? Why are they not complicit. His service should have been canceled long ago. They look the other way, corporate shills.
9
The result of his behavior will eventually be civil unrest, death and violence amongst some (not all) Americans. Saddest moments in my sixty years.
22
It's already happening. It was glaringly obvious with Puerto Rico. It was glaringly obvious during the primaries.
5
One of the most serious violations Trump has committed. As an old Wall St player this is far more disastrous than the man on the street realizes. Congress should probably censure him for this.
39
Congress used to = republicans, independents, and democrats. Now we have independents, democrats, and a new group of players who are not republicans. So how will they censure him since they aren't republicans and support the treason and have a majority. They won't and notice "probably" is missing.
4
In response to Karn Griffen: Congress should probably censure him for this... but they won't.
The mystery of the ultimate source of leaks is now solved.
37
Perhaps DJT should not be told of any information of importance until an hour after it is officially released. Yeah, I know he's the POTUS, but he is also a loose cannon. He has upset markets before and will continue to do so, as he seems to think he is above the law (thank you, Congress). I shuddered to think of what he may do with military-related information to which he is privy.
26
whenever I hear “the President is not above the law”, i laugh. Yes he is. This nightmare has corrupted a party and this country. The only remedy now is the Supreme court and Im losing faith that they will help us.
34
The man is a crook. Just as he used to say jobs numbers were lies in the past, I say these numbers are rigged. And, if jobs were created are they full time positions with benefits? Will any working Americans come off the assistance lines??? So, bottom line he cooked the numbers he didn't hear them!
27
sounds like insider trading to me.
23
Stocks doing well !
Good news for Americans
5
...who own stocks.
1
Am I supposed to laugh at this?
How about this for a solution - the White House and the President get the news about the jobs report when the stock market opens? That way he would have more trouble gaming the system.
15
Crickets from Republican chairmen of the finance/labor committees? Clearly, the courtesy briefing must be terminated in the age of the untrustworthy Trump.
26
Trump couldn't care less about what these statistics mean as they pertain to anyone else but him. They make him look good, so he breaks the law by blabbing about them beforehand. It's always all about him and no one else. What a big baby our President is.
20
it's been "ALL" about Trump since day 1 , never in my 60 yrs have I seen such maddness in the White House and I hope never to see it agian in the years I have left here, hopefully this November we will start to see a turn around and for sure in 2020, if not I totally give up and will spend the rest of my days in Canada as I should have the day this Narciisstic Egotist, self serving anomaly got the #1 job of a lifetime, sad times we are living in folks :(
1
Remember, this is the White House and Congress who didn't think it was at all concerning that Tom Price bought stock in medical companies that his committee oversaw.
The BLS data frequently moves markets. I wonder if Donald will be so accommodating when the inevitable downturn results from his shoot-from-the-hip trade policy.
Market volatility already presages the turn.
13
no Trump only takes credit for the things he percieves as good, he will NEVER take it for any failures, ever!
When the inevitable downturn comes crashing down on the U.S., Trump will announce that it was caused by a combination of Hillary's e-mails and Obama placing spies in his campaign. And his followers will nod their heads and say: 'Amen'.
I love how we can take a story about something great—adding hundreds of thousands of jobs to the economy—and turn it into a jab at the president. Sure, he broke custom. Maybe he even unambiguously broke the law. But in this context, why should an ordinary person care?
I can tolerate Trump bending the rules for petty things like this. I suspect 200 million or so of my fellow citizens feel the exact same way, and will appropriately dismiss this article as a non-story, a piece designed solely to comfort the president's many critics, who can't seem to stomach the reality that the economy has done ridiculously well under his administration.
I'm sorry he's your president, but news like this should basically be a call for celebration. You can find something better to gripe about.
11
Yet you ignore the issues around a premature release of official government employment data.
If Trump can show his lack of judgement by his ill timed tweets, it is not much of a stretch to imagine Trump or his inner circle using their knowledge to benefit themselves through insider trading.
Imagine the screams from the right if Obama had behaved this way, yet with Trump we don't have to imagine as his questionable behaviour is the new norm.
23
He didn't release a thing! He merely said he was looking forward to seeing the numbers. At the current time in the US, it would be one of the safest bets you could make that they were going to be good, even not knowing the details.
3
You gripe about this petty incident that will have no affect on the economy and will only bring rejoice to the people who support our country. Go read his tweet why don't you. I am truly baffled that there are calls for impeachment (yet again) over this. Absolutely amazing. The left has truly lost me and these articles with weaponized language only push me farther.
Trump does these things (generally), not as a result of maliciousness, but as a result of his overall stupidity and lack of sophistication, combined with his braggadocios nature. We saw that last year when he twice revealed classified intelligence from Israel and Great Britain.
If Trump could spend some of his millions to buy a clue, the whole world would be better off.
13
now that last line is hysterical Think..lol
1
The administration is actively attempting to bias the US Census to favor their political ends. Ditto with legitimate research on climate, health care and education. Is there any reason to believe that Trump's Labor Department is not doing the same?
9
Embargoed info is essential to open/fair business. With his opposition to norms, must every rule, regulation, and law be re-rationalized and explained to President Trump? Apologists will claim there wasn't much effect, so we shouldn't worry. Trump sees himself above the law - anyone else disclosing financial info would suffer criminal prosecution, but not the President.
5
I have to say I am very much hoping that tomorrow’s edition has some interviews with top SEC and CFTC practitioners who can tell us exactly what the potential liability is under securities and commodities laws for Trump and anyone he was in contact with between receiving his briefing and sending his tweet.
16
Love this. It’s what Trump does best. And those are good numbers.
4
"It's what Trump does best."
Yes, breaking the law with impunity IS what Trump does best.
8
Where is congress ??
17
Trump can't help it, he is a narcissist, and his ego demands constant attention and applause (he might die if this addiction goes on unsatisfied for too long). What is disastrous is that Trump's constant barrage of stupid tweets (Twitter, the company itself, is complicit about the spraying of constant lies) is becoming just 'business as usual', vaccinating us from the need to stay alert and fight back. Trump is a disgrace, as ethics is not in his lexicon, and morals are AWOL.
9
Criminal recklessness.
10
The narcissist-in-chef just ignores norms and customs in the service of his ego.
11
And releases jobs numbers that will get him re-elected. I look forward to the June numbers!!
2
Under Obama the unemployment rates were FAKE, as claimed by you know who.
Now, you know who trusts those numbers, they are REAL, and we, as good lemmings, must cheer.
16
No discipline. No control. Just gut and flying by the seat of his pants.
Does anyone trust this individual who calls himself Trump, to handle a real crisis?
12
Now Trump's job numbers are finally inching up towards the Obama job numbers that Fox and Liars use to call "cooked."
8
"Lock him up."
Sounds about right.
21
"Looking forward to seeing the employment numbers at 8:30 this morning." Lock him up for this?
1
The Trumpster never misses an opportunity to blow his own horn. Oh, he’ll take the credit if the numbers are good.
And if they’re not, it’s Obama’s fault. The audacity of this man is beyond the pale.
19
Beyond noting that Trumpists are spozed to be all about keeping government out of markets, why is it so hard to explain that this was a stupid thing to do because a) it increases the President's power, b) amps up the chaos and the sense that Trump simply doesn't care what the rules are, c) looks terrible?
Even assuming that a guy who lied about releasing his taxes, lied about divesting from his businesses, has had several close staffers hawk their wares from the White House, has been leveraging his properties while acting as Prez, and whose daughter just got handed a passel of cash right next to a massive Chinese loan to his kid, isn't getting on the phone the night before and calling his banker buddies--this LOOKS corrupt.
Ask Bill and Hillary and Loretta Lynch about what the Right says when you look corrupt.
4
It's polite of the NYT headline to say he "breaks protocol." Please, please stop trying to excuse vile behavior. He manipulated the market. Plain and simple. It's insider knowledge, and we have no idea with whom he shared this last night, but pretty likely billions were made.
16
Your conclusions made about this tweet: "Looking forward to seeing the employment numbers at 8:30 this morning." are truly uncalled for. I am trying to rationalize with leftist mentality but I am struggling to find the reasoning behind this petty outrage.
1
Hopefully the SEC will look at Trumps friends and family to investigate front running on inside information. By the way, how about a tweet on the status on the IRS audit of your taxes?
17
What's the big deal? Nothing, nothing at all. President Trump is governing the United States of America like none before him; he has revolutionized the Office of President of the United States of America. Frankly, I like it, and so do millions of other Americans. I support the President. I support Trump. Thank you.
7
SB,
So, you’re back to your coal mining job, then? You said you were a coal miner. Making a lot of dough? Medical benefits? Bright future? Health and safety protocols enforced?
Just checking in.
19
Breaking protocol is a hallmark of this presidency. None of the standards or traditions normally followed by all those in this office means anything to Trump. My question is in the face of this good economic news on the jobs front, why in God's name are we instituting sanctions on our major trading partners? Apparently the President can't stand prosperity.
4
Apparently Kudlow is a stooge for Trump like everyone else in his Cabinet. Is there a single one of these pathetic sycophants who has an ounce of patriotism or manhood remaining?
14
It is ALWAYS just about the Donald. Pathetic.
8
Surely this had an effect on the market today. Did anyone in the trump organization, family or business associates of trump make a profit from the early announcement?
This is a FTC violation of insider trading, punishable. will the FTC investigate?
15
The market closed yesterday at 24,415.84. It opened today (1 hour after the 8:30 report release) at 24,542.09. A .00517% advance.
Sure looks like a big killing to me - NOT
3
So what will the market do each month after this? Will the absence of a presidential tweet mean the numbers are bad?
10
Who else was he on the phone with dealing insider information? Isn't this tweet just a deflection from some probable guilt for breaking insider trader laws? What else did he do before the announcement?
7
The S.E.C. should also check to see if Trump called his old buddy Carl Ichan last night and whether he made any trades since then.
10
How's this for more destabilization and interference: Trump plans to issue an order for utilities to buy energy from coal and nuclear plants to disrupt their closing. More public outrage is on the way.
8
As a non-economist, I have to claim confusion over people's comments of insider trading. If the information from a federal agency is going to be release at 08:30, and Trump (the legal head of all federal agencies) instead releases it at 06:21, to the whole world...
Is it because people are expecting it at 08:30 and thus aren't looking for it earlier?
Is it because the platform (twitter) is different from the expected method of dissemination (press release or whatever)?
Legitimate confusion here...
What was said, actually, was that the markets responded to advance info from the President.
Some got it, some didn't. This gave some an unfair advantage.
18
His tweet didn't say what the numbers actually were and vague, which could mean anything. It's amazing how some people can turn good news into bad. If he found the cure for cancer, there would be negative new about it.
6
Stop being his apologist. He gave unfair financial advantage, which is highly illegal. He's a crook and has to suffer the consequences.
10
yes, your right, trump might tell everyone to time in for bad news. And remember when he called all the good employment numbers under Obama as fake? Trump did that. bro aren't these numbers fake?
5
bp,
He doesn't have to give numbers.
He saw the report last night.
He tweets this morning that he's "looking forward to seeing the jobs report."
Connect the dots.
5
Insider trading? Manipulation of the stock market? I wonder who he gave the information to when he was told last evening? I think the tradition of briefing the president the night before needs to be suspended until further notice to avoid improprieties.
19
There's a broader standard of right for Trump; and, a lesser standard of right for everyone else.
5
The pattern of behavior continues. This is all about Trump wanting to be seen. He signs bills and executive orders for the cameras not understanding what's in them. He once told Secretary of State Tillerson that "I'm the only one who matters" when it comes to diplomacy. Now he draws attention to himself on the jobs report. He is a purely personal politician - every action is about burnishing his image. Forget what's good for the country. It will be interesting to see what happens when the bad news rolls in.
11
Surely you don't mean to suggest that Trump and his friends would attempt to profit from Trump's position in the White House.
10
On a positive note, the market did well today following a good jobs report. This is the kind of information that investors can use to maximize their return from the market if they get ahead of the jump and get out before it loses momentum. Though, I've heard, from some of the highest in the land, that the Labor Department jobs numbers are bogus. Must not be.
6
Let’s see if he jumps the gun when the numbers aren’t so good.
3
"A bigger concern is if he was bragging about them privately to his friends last night -- friends who could make millions on the information."
Just one more example -- along with the trend of his presidential pardons -- of the essential corruptness of this administration. Not only do they not condemn corrupt practices, they celebrate them.
10
Good Job President Trump. Thank you for all your hard work. Proud of you, sir.
2
Hey, speaking of hard workies, how many golf trips are we up to now?
7
Just another day in Trump America where he and his crooked family and friends make out like bandits, and his supporters tell us that he's draining the swamp. My only consolation is that the supporters are probably going to end up broke because they're too uninformed and naïve to save themselves.
12
When the truth is your own invention bearing no relation to actual facts, it is easy to jump the gun on protocol. We are constantly blind-sided by this administration's revelations. Respect for protocol? Respect for the presidency? Respect for anything? I am not holding my breath
8
When he was campaigning he derided the same Bureau labor numbers ('Who knows?'). Now he believes them!
13
Protocol! Haven't we learned yet? Trump doesn't do protocol. It's all about Trump.
9
Our country is nothing more than a large monopoly game to Trump, the bankrupt has-been tycoon. Lock him up.
28
So, how much money do you think he made on that quick announcement?
Any bets ,on him and his relatives?
12
Why didn't Wilbur Ross have to divest his holdings into a blind trust as is required for cabinet members? This secretary of commerce is negotiating steel tariffs and he is a steel magnate.
16
I wish the president's tweets were not treated as news. So he looked forward to the report. Who cares?
6
In all fairness, even though I'm NO fan of Mr. Trump, we haven't had many Presidents in the past who had access to social media as this one does. President Obama tweeted, but his wasn't an administration based on social media.
3
Obama could write a sentence that made sense. That might have something to do with the way this Admin handles their news.
TRUMP'S ACTION IS IN LINE WITH HIS STANDARDS OF WHAT IS 'BEST FOR TRUMP'. TIPPING OFF THE STOCK MARKET IS IN THE REALM OF WHAT IS BEST FOR TRUMP REGARDLESS OF LARGER RAMIFICATIONS. ANOTHER EXAMPLE OF TRUMP'S LACK OF DISCIPLINE OR CARE WHAT HIS ACTIONS MAY INCITE.
15
He's desperate to make it seem that he, and he alone, makes or breaks the economy. He has nothing to do with this success.
14
Well, he did get the Democrats to criticize him and publicize the job figures. It is always a pleasure to watch a master violinist at work, especially when the violin is trying to help him out.
1
Is it as much fun as watching Trumpists twist themselves into Klein bottles trying to justify the unjustifiable?
4
Yeah, but we are talking about Trump.
1
This is a tempest in a teapot. Let's hold the criticism to real breaches of protocol, of which there are many.
No one will pay attention if we cry wolf over incidentals and then there is a true problem. Need to be careful.
5
I actually believe this is a violation of the law, aka "insider trading". No wolves around on this one.
9
People don’t go to jail for violating protocol. John Youngdahl is in prison for leaking info in advance of public release. This Trump Tweet was actionable and people acted upon it. To the detriment of fair markets.
8
Is anyone paying close attention to Trump and Trump organization stock trades and their timing?
13
And there is no thought that Trump is trading or helping his friends trade on pre release information? No, he would not do that. It would be dishonest.
12
You let me borrow and spend a couple of trillion dollars and I’ll make the economy look good too. Who is going to pay that money back?
5
"Looking forward to seeing the employment numbers at 8:30 this morning."
as a moderate liberal, I think you all have jumped off the cliff looking to hang trump yet again. you're making assumptions with 20-20 hindsight. he gave no indication of what was in the report.
do you understand why moderate conservatives cant stand this developing alt-leftism and even many moderate liberals are disenchanted with the party? because dems are becoming exactly what they claim to abhor. we are becoming a party of blind, incessant hatred. as a moderate lib, I can't even say "we". I have to say "you". i am absolutely no fan of trump but your blind hatred of trump in everything has led you criticize and express hate on everything he says or does. even when you criticize and he then reverses his position, you then criticize that. if he said the sea was green you would criticize and say it's blue. when he then says I meant to say blue, I guarantee you'd jump up and down and say it's green. and you do it all the time. you can't have it both ways. and the hate runs so deep you'd rather see him fail and the country do poorly so you can criticize than see the country do well. I propose to you, you really need to think on that. this mentality is pushing many moderates to the Republican side.
6
oh, and you don't think that his crooked friends don't understand him when he tweets? He was probably on the phone with them last night. You don't think his crooked friends don't know what he's doing when he goes after Amazon etc.
6
Gee, did he tweet the last couple of months when the numbers fell short of expectations? Just asking ....
2
How, How has he still not been held accountable. Seriously, this week alone he's infringed Samantha Bee's first amendment rights, and now insider trading. I genuinely believe him when he says that he could shoot someone on 5th avenue and nothing will happen to him
8
The Swamp and its little rules. Trump is fun to watch.
get back to us when your retirement account is wiped out.
6
As usual, no class.
2
No wonder he wants to pardon Martha Stewart.
2
While we agonized about Hillary’s emails Trump uses his personal cell phone and tells the jobs news which is illegal and could allow his bestest of friends access to inside information
This was a breach of trust, illegal and he should be prosecuted but he won’t because our feckless congress will look away and do nothing
Vote the democratic ticket on Nov 6th to put the breaks on this incompetent, racist and self dealing presidency.
13
Trump to self upon hearing of impropriety :
[ Shrug ] ...... followed by , "hmm, wonder how many retweets there are now".
2
Infantile impulsivity.
5
Donald Trump has shown all his life that custom, protocol, and law-breaking mean nothing to him. Those things are for “little people without lawyers.” He is operating under the principle of “ if it feels good, just do it.” He has also shown on numerous occasions that he is absolutely incapable of holding his tongue (or tweets) about anything confidential with friend or foe if he thinks he can brag about it.
Probably the best kept secret of the last century was the date, time and location of the D-day landings. Based on current performance, if Trump and Twitter had been around then, he might have tweeted the night before: “Looking forward to seeing all my supporters on the beaches of Normandy tomorrow morning.”
9
A lot of things to not like Trump about, but this ranks close to the bottom for me. "Looking forward to jobs report ..." Not a big deal.
4
Finding one’s bottom cannot be accomplished with one’s both hands, in some cases.
4
So, he saw the numbers last night. And does anybody think that this tweet was the first time he talked about them?
See also: his nighttime call habits. And somebody check the trading accounts of people he talks to too. See also: Dow Futures.
11
Trump followed his protocol by releasing this job data in order to influence and move the market for the profitable benefit of himself and his family. Which is why Trump is hiding his personal and family income tax returns and business records from the American people.
12
The man has zero respect for the government he is supposed to uphold. He is a maverick and loose-cannon with what seems to be a total lack of self-control. This is going to end badly, I fear.
8
Where is the Republican controlled congress? POTUS just broke the law...again. Who is running this ship? There is clearly no leadership whatsoever for the country right now, just a grandstanding liar and a legislative branch that isn't upholding their oath to the Constitution.
8
Ok, if Trump did use his advance knowledge to manipulate the market either for his benefit or that of his friends (we know Carl Ichan loves this kind of 'deal), lets have a serious investigation and find out who, what and how much.
Or would this be an example of just another pass for our Grifter-In-Chief? Oh well, look what he's done now. It makes the phrase 'nothing matters anymore' so true for the 1%.
The rest of us, well we get arrested at Starbucks.
8
some commentators are missing the reality Point here, whole economies will rise and fall, Martha Stewart went to jail because she spoke about information that she was supposed to be discreet until 24 hours later. Rich people will profit and the disparity of medium income people will go to low-income just because early release of this information. Corporations will stop hiring or actually fire People based on this early information.
And as Donald Trump was so proud to promote that he could shoot a person and get away with it this is what is very real and scary now! Keep violating laws and ethics with no consequences...
8
Trump is engaged in insider trading. If Congress does not stop him from violating trade laws, we must. This cannot go on.
13
How can it not? Collective gnashing is no impediment.
If another run of the mill worker in our government privy to the same info tweeted the same exact message they would have been called to the carpet pronto and had the book thrown at them.
Bottom line: The President should NOT be excluded from such careless Inside Trading acts and is NOT above the law.
7
This guy is selling everything he can. Financial info, pardons for felons, and tech for family trademarks. And that's just what we know for sure.
10
DJT influenced US and world financial markets. A lot of talk about about national security from the White House - so we need tariffs ... and physical walls.
National security? This kind of reckless action could sink a small country with a struggling economy. It can certainly harm the US economy. Where was Gen. Kelly?
DJT: "Just because you (think you) can, doesn't mean you should."
[and what you did today may have been illegal...]
6
Hasn't Trump been moving stock prices almost every day with his back and forth, in and out, trade policy threats and pronouncements? Also, the trend has been job growth for a while now so traders were expecting more good news anyway, weren't they? All in all, this is a nitpicking story to malign Trump and give him and his "brand" another headline he doesn't deserve. He will turn it into, "The fake news media don't like me telling good news for American workers." Keep playing his game and letting him win.
4
Funny that Trump hinted that he might pardon Martha Stewart (who was sent to prison for insider trading) right before he does this (which is insider trading.)
If Trump says that he's "looking forward" to a jobs report being released it's obviously going to be good news.
8
Trump is a dictator in President's clothing.
No one but himself is allowed to have good news or be the source of good news. Expect more of this.
9
Law and order! Rules! Fair!
Unless, of course, expediency is the word of the day.
1
CAN ANYBODY DO SOMETHING about this? Sorry for the caps, but I just get so frustrated at all this hand-wringing. NYT, I hope you are researching who profited from this "breach of decorum."
As soon as he got this news, Trump was probably on the phone to his friends. Did any of them make any suspicious trades? Is this a matter of public record? There has to be a paper trail.
9
“Paper trail:” Johnny Letter to the rescue.
He does not care. He does not care if he violated protocol, influenced markets, committed insider trading, or broke the law. He does what he wants when he wants. It's the way he has lived his entire life. This man has never once absorbed the fact that what he says and does affects others. Since he has never once experienced negative outcomes for his actions, why should he care? They gave him a NOTE telling him what to say to victims of a mass shooting, but truth to tell, he doesn't "hear" anybody. There is something so very wrong with the guy. When will he be stopped? Republicans? Anyone out there?
9
1. Only fools with their heads in the sand had no idea that the jobs report would be strong.
2. Strong job reports have caused markets in the past to do unpredictable things - like go down (inflation threat, the Fed will increase rates).
3. Today's market is up by (only) 1% or so. Why? Nobody smart will say they know. Association is not cause.
Dissemination of "inside information" is completely fine if it is announced to the whole market at the same time. What's the damage then? This is exactly what Mr. Trump did. In fact, the more precise the dissemination, the better. Not sure what the point of this article is, or of 99% of these posts.
Mr. Trump would have been well advised not to tweet this morning, though it's his prerogative, just to prevent predictable, straining, over the top and ultimately nonsensical articles and posts such as here.
Don't you have Trump Russia Collusion to write about?
6
Rules schmules. What does it matter? There'll be no consequences for this administration. It's all evidently based on a gentleman's agreement, and we're clearly not dealing with a gentleman.
4
Nothing to see here folks.
Trump's been floating a pardon to Martha "Insider Trading" Stewart.
When you've proven to be untrustworthy, untruthful and unreliable people are going to suspect you're using insider information to gain an unfair advantage......and they're probably right.
3
Number-45 involving himself in "likely criminal behavior" and enriching those who support him. SAD!
3
Does anyone remember when Hillary Clinton, when she was First Lady (I believe it was), made money trading on stock futures? Republicans went berserk! Was it pork futures? I'm sliding into my eightieth decade, so I hope you'll forgive me if I'm not totally accurate here. Can you even imagine, had we been speaking of President Hillary Clinton having done this same thing this morning, what Fox and Friends, Rush Limbaugh and Sean Hannity would be doing? They would be, as my late mother might say, having "conniption fits!" "INSIDER TRADING!" they'd be screaming.
And you know what? They'd be right. But when their guy does it? Larry Kudlak says, "Oh, well, I don't think anything bad happened. Everything's okay."
So now we're channeling Bob Marley? "Don't you worry about a thing, 'cause every little thing's gonna be all right?" On the day when we're imposing tariffs on our friends?
Um. No.
6
it was cattle futures in 1978/79 when bill was Gov of Arkansas. hrc invested $1,000 that ten months later was worth $100,000. think there was any insider knowledge of info there? but nothing happened to her. and nothing happened to her when she bullied women to keep quiet over their affairs with bill. and nothing happened when she gave a speech to wall street big wigs and was paid big bucks but refused to make public the contents of the speech. wonder what she told them? and nothing happened when she violated security protocols and used a private email server. and nothing happened when she and the DNC colluded and conspired to undermine and get bernie out of the campaign. and we think trump is dangerous?
2
And nothing happened when Colin Powell used a private email server and nothing happened when George W. Bush and Dick Cheney used the RNC email server and deleted 60,000 emails, either. When other people who have run for office have made speeches and made big bucks, they haven't been criticized, either. So where's this going, critic?
Trump is just setting the stage for pardoning Martha...if I can do it, anybody can!
2
Keep parsing those words NYT..He broke the law....again.
17
ego + information = insider trading
11
not long ago, this guy and his lackeys were saying that the job numbers were being 'cooked' to help, wait for it, Obama. The labor department was corrupt and in bed with, yes yes yes Obama.
Now they are sterling and written by the finger of God,.
12
This is a non-story. It doesn't matter.
4
Can everybody just get over themselves? I hate Trump, but reporting every single action as if it's an earth-shattering bit of news is getting very old. We get it, Democrats hate everything he does, Republicans love everything he does.
This type of journalism will ultimately chip away at any momentum Democrats have and create outrage fatigue among the left. It's not natural to exist in a perpetual state of outrage, and while there are many things Trump and his administration has done/continues to do that deserves outrage, the NYT and it's readers continue to expend their energy freaking out about minutiae.
Who cares if he tweeted about the jobs report? (and btw he didn't disclose any actual details). What Democrats should worry about is that Trump is presiding over a healthy economy going into the midterms (whether he caused it or not is irrelevant). If the Dems are unable to find a more compelling message than "Trump sucks" they're going to be in trouble because those fabled moderate voters won't vote for change when the elections roll around if the economy is doing well.
4
Considering that he refuses to divulge his tax information or distance himself from conflicts of interest with his personal finances, it’s is a newsworthy item that he reported it early. He stands to benefit substantially from his insider information.
5
Where does the article say one word about Democrats? It is the Wall Street elite bankers, Republicans all, that are freaking out. You really don’t seem to understand the issue involved. To venture a guess on an analogy you might understand, it is sort of like shaving points in a basketball game where your team still wins the game, but the line with the bookies falls short. That is what Trump is doing market wise, shaving points.
2
@Eric, here is a direct quote from a New York Post article, not exactly a nest of Dem vultures:
“Looking forward to seeing the employment numbers at 8:30 this morning,” Trump tweeted — a full 69 minutes before the Labor Department released its jobs report.
Moments later, the sell-off began, pushing the yield on the 10-year note from 2.8876 at the time of Trump’s tweet to 2.8913 at 7:24 as traders left their safe haven play in favor of riskier assets such as stocks — which also moved upward”.
Rest assured, some privileged Trump insiders, made millions on that tiny spread. I would venture to guess that their first names began with the letters I, E, & D.
2
Premature tweeting. Poor Melania.
4
Isn't it amazing that all of his money brought so much happiness to the old blond and to his family?
2
A lot of the post 2016 members of the Mar-a-Largo Golf club just got their membership fees back in Spades.
11
there is no there HERE. just another small tug on the rope we are letting him collectively hang himself with. we better be careful though. by the time he completes his mission we as a nation may have respiratory ailments.
4
Protocol? PROTOCOL??
I don't need no stinkin' protocol.
3
Is the stock broker he called last night already on his pardon list?
5
People read into his Tweets lots of things, when he gives the numbers or indicates directly that they are positive then I would agree. Looking forward means nothing, and of course this president does not follow tradition, in fact we elected him to destroy ineffective tradition.
4
"We" didn't elect Trump to do anything. The man has no mandate. Most people voted against him. And do you have a similarly nihilistic opinion about Trump's leaks of classified intelligence information?
6
vulcanalex,
Trump wouldn't say he was "looking forward" to the jobs report if he didn't know it was good (and he DID know it was good before he tweeted about it.)
Insider trading can be added to the pile of crimes Trump has committed. He's not above the law - no one is.
4
Rules??? 45 makes them up as things move along to suit "the purpose of the day". Unfortunately this is not a pick-up game in the streets.
1
Trump is setting up some employment opportunities in North Korea too; only who benefits first, NK, US, or Russia?
2
I started in the Financial Industry in 1976 as a runner for EF Hutton, then onto the Institutional side of the business where now I work for a major player in the industry. EVERYONE and I mean EVERYONE knows what he did is called INSIDER TRADING. The sad fact of the matter is that nothing will happen to him, however, if someone else were to do this the FBI and SEC would have a field day. Even worse where's the outrage from Congress? I guess next month if he says ”nothing” it will indicate a bad report? Honest to God, you can't make this stuff up.
11
This is right out of the Redford Newman film The Sting. Next month Trump eilll make the very same tweet except the job report numbers will be dismal. Carl Icahn will clean up and be very happy. Everyone else, not so much.
1
no worries i’m sure he only told ivanka, jared and his sons of the report before the tweet.. keeping it in the family so to speak..
3
This is not the first time that Trump has blurted out information that he was supposed to keep to himself. Recall that in May 2017, boasting to the Russian foreign minister and US ambassador that he "got great intel," he revealed highly classified information about the inner workings of the Islamic State (ISIS). Rather than attributing his disclosure of job data information for a nefarious purpose, it seems more likely that Trump's deep insecurity, coupled with a childish inability to control his impulses, compels him to let everyone know as soon as possible what a great job he is doing.
3
The President is not an "employee" of the Executive Branch. I get that this probably sounds funny to people here, but that's Administrative Law for you. So, whatever you think about this, it isn't illegal.
As far as protocol goes, while we'd all be better off if Mr. Trump tweeted less, you can't get a more public disclosure than this. Of course, some traders aren't always near Twitter, so some people likely got the jump on those waiting for the report. Then again, there are plenty of other indicators, of varying quality, that traders rely on, prior to such announcements.
4
How can I get in on the advanced notice action? Pretty sure his pals like Carl Icahn and some other members of the friends and family circle got a heads-up before he tweeted it out to everybody. Is anybody monitoring sudden spikes in futures and options trading, especially when he makes especially irrational announcements (the tariffs against Canada come to mind)? As they say when investigating: follow the money, and who benefits?
4
He could stand in the middle of Wall Street and announce the jobs report prematurely and not lose voters.
2
Aren't these numbers coming from the same people using the same data that Trump claimed were lying? What changed?
7
When Obama was President good unemployment numbers were "phony" and "fake news", though generated by the identical process by BLS.
Our nation's worst and most dangerous National Security threat is Donald J. Trump.
6
A non-secure cell phone, insider information, and a 12 hour lag time before the markets open today.
In past weeks, knowledge of imposition of tariffs, suspension of banking regulation rules before the markets opened.
Acknowledged daily contact with family members who control the family business.
Hello? Any regulators paying attention out there?
Mueller investigators...you might want to start looking at the trading history of the businesses of family and friends.
11
As long as the money continues to flow in their direction, Congress will never stand up for a principle. Checks and balances are nothing compared to pure profit.
This couldn’t be a clearer example.
2
"I don’t think he gave anything away, incidentally. I think this is all according to routine, law and custom,” Mr. Kudlow said on CNBC.
Nothing that this fake president does is according to routine, law and custom. I am sure that Trump & Friends are all a little richer today after trading on this leaked information.
6
Given his interest in pardoning Martha Stewart for insider trading, should we be surprised that he didn’t see a problem in violating this rule?
5
As Jean Montanti correctly states, "Trump broke the law, again."
And what will happen? Unfortunately, nothing. Nothing.
Sitting around hoping that justice will be served on him is like experiencing a modern production of "Waiting for Godot."
3
Mr.Trump has broken every protocol established for the presidency.He cannot be trusted with privileged information.The stock market can make big bets on information that is not publicly available.That is called trading on inside information and is illegal.There was no reason for Mr.Trump to tweet about the report- he walks up to the line and crosses it.
3
If he tweeted this foreshadow, who did he call? Seriously, this should be investigated. Any other citizen, like oh, I don't know - Martha Stewart, would be indicted.
6
No one will care about this. Nothing will happen. This is our lot in life.
Trump.... "The Liberal media doesn't want me to get credit for these numbers which is only why they care."
Trump: It's all and always about Trump, still a little boy who didn't get enough love from Mom and Dad and craves any attention. Vote in 2018 to stop this ill tempered, poorly prepared showman.
6
If people are working and able to support their families and the economy stays strong Trump will be relected. When polled most say the Russian investigation or Trumps tweets mean nothing to them; they want jobs and a good economy. The Dems better come up with something better than "hate Trump is they are to have a chance. You may disagree but millions of Americans are watching and they will vote. The rest is intrigue
1
Thank you President Barak Obama for handing this man a sound economy; I fear what the next president will inherit.
7
Dear SEC, please look at all of the trades that were made between the "president's" tweet and when the official jobs report was made.
7
Larry Levinson
2 mins ·
The New York Times
·
It is difficult to estimate the number of hours I spent, personally, working with programmers, reporters, headline writers, database experts and network specialists making sure this kind of thing never came out of our work station at the Bureau of Labor Statistics.
If a reporter was responsible for anything even close to what the president did this morning, they would be barred from any of the lockup rooms run by the government. The room opens at 7:30 a.m. and is locked at 8:00 a.m., when the report is distributed.
If you are not in place, too bad. If you have to leave to use the bathroom, too bad.
If you break the embargo and release any information before 8:30:00 eastern time, be prepared for a visit from the FBI, the SEC, the Office of the Comptroller of the Currency, the Federal Reserve, and possibly DC Animal Control.
Billions -- if not trillions -- of dollars of assets such as stocks, bonds, commodities, futures, and currencies change hands based on the information in this and many other government reports. Somebody just put his thumb on the scale.
11
Perhaps the SEC should subpoena the White House phone records to see who Trump was speaking to after his briefing, and whether they made a "killing" this morning.
5
Broke protocol, who would have guessed?
2
Trump is only about himself and anything that will make him look good to his lunatic fringe base. And when the job number and economic indicators start turning down he will blame Obama and the Democrats. Nothing new. Precedence, decency, telling the truth and fidelity mean nothing to him.
1
When was the last time that someone was convicted of insider trading? Enforcement, especially in this era of supposed artificial intelligence and big data, is a joke. Only 1 person was sent to jail in the 2008 financial meltdown; arguably the biggest fraud/heist in American history. Trump's recent pardon of Dinesh D'Souza highlights again that the foxes are indeed in full control of the hen house.
3
OMG we broke yet another ridiculous protocol made up by some old guy decades ago. Oh my what are we going to do! The sky surely will be falling!
People on here calling this "inside trading" violation. As an independent it's amazing how ridiculous left or right factions can get in the USA.
Get a grip on reality people, protocols change. Before the protocol was women weren't allowed to be CEOs and now they are... don't be afraid of change.
4
Uh-huh. So the upside of the president's tipping off investors ahead of the official release of the jobs report is what, exactly? In what way is that change for the better?
The fact that the protocol came into effect decades ago makes it ridiculous? Is that what you're saying?
Talk about ridiculous.
9
You do know that people in Wallstreet bet on those numbers? Trading with inside knowledge is deeply unfair and problematic in a free market. Giving a hint in regards to the numbers or even bragging them to friends makes people richer, just because they "know a guy".
7
Did you know that Wall St. traders can make millions/billions on a tweet like that, in seconds, with a leg up thanks to drumpf? Who knows what Wilber, Steve, and anyone else did with that info when they had it a day before release to the public.
Goldman Sachs would know what to do with that tidbit even if you don't.
Wake up! The draining has commenced, not in the "swamp",
but in our economy.
7
But what are friends for?
2
Wonder how much insider trading he abetted by bragging about the non-public numbers to his Mar-a-Lago pals last night.
32
No harm in sharing good news!
3
People have gone to prison for this kind of "sharing."
5
I wish Alfred E. Newman had run instead.
12
Trump is helping all of his billionaire friends...crony capitalism at its best!
10
Tillerson must be feeling vindicated in his assessment of this President.
25
Trump has a big mouth and cares nothing about the American people and its institutions. He'll say anything to get his name in the "media" he claims is so dishonest. Bah HumBug
Of course, he will claim credit for the jobs numbers although he has only depleted the number of jobs in the WH which thank God has helped to drain the swamp.
4
Perhaps he was tipping friends off -- close to insider trading.
4
I’d love to hear what would be said if Hillary had become president and done the same thing. Imagine.
18
that'd be ok. just like her using private email server was ok. or her insider trading prior to bill's election. or conspiring with DNC to undermine bernie's campaign and get him out of the race ("election meddling"?). wonder where that investigation stands.
1
But that's not happening; it's Trump's big mouth violating market standards. At some point your 'what if
Hillary . . . ,' went from silly to ludicrous.
3
More than likely, he leaked the numbers to his family and friends Thurs night so they could profit from the insider information.
20
...and who do you think he "tipped" off before his recent diatribes against Amazon that tanked the stock over a couple of days a few weeks ago? I wonder if the SEC is looking into whether there was any unusual short selling of the stock before Trump's twitter pronouncements. Then again, the SEC, like most other govt. agencies these days, would probably just look the other way.
24
The running joke on CNBC in the 90s was the fed's interest rate adjustment could be predicted based on Alan Greenspan's "bulging" briefcase when he was caught going to the office that day. Sounds like a joke back then, but now we have Trump with his Tweet indicator on unemployment. I don't believe this man has ever played poker.
1
Trump wanted to jump out ahead of the official report so he can insinuate to his base that he is in charge of all the economic mechanisms that enable employment, and all the other organs of the economy, to grow and prosper. Not to worry. When the economy and employment dip again, you won't see Trump anywhere near Twitter, unless he's blaming Obama for it.
10
exactly! Just like he was nowhere near Twitter went across the nation teachers had to go on strike simply because they wanted a fair wage and stop paying for books and supplies out of their own pocket. Just like when he was nowhere near Twitter when the black man that saved so many lives in the Nashville Waffle House shooting and I am ashamed I don't remember his name. Shaffer?
everyday, every moment of every day in America is dismal while this guy and his administration have power...
If it hasn't been abundantly clear already, it is absolutely clear now that Trump will do anything to help monetize the privileged information he has access to so as to enhance the financial advantage for his family and friends.
And that is downright deplorable and unlawful. Just imagining that his supporters were enraged about Clinton's use of private email server and were chanting to lock-her-up. Where are the chants now that Trump has clearly broke , not just with tradition and protocol, but also the law.
11
Arguably Mr. Trump's actions of tipping off the public prior to markets opening is impermissible under the securities laws and are an attempt to create artificial market prices (i.e., his actions meet the definition of attempted market manipulation).
12
So now we have another concern. Wild market swings and speculation based on Trump’s tweets. This man doesn’t care what he destabilizes as long as it serves him in the moment. Nuclear armaments, the environment, the economy, our judicial system, our treasured relationships with our allies, etc. On a daily basis he terrifies me. To the Congressional Republicans and Trump supporters out there. Why doesn’t he terrify you?
9
I am not a financial sophisticate, but this tweeting seems to be getting close to the use of "insider information" to affect market transactions--the kind of activity that Martha Stewart was accused of.
21
not only accused of but convicted! she served 2 years! And how coincidental that Donald J Trump wants to commute and pardon that conviction?!
2
Wait, wait. Was it not candidate Trump who said the job numbers and unemployment rate were fake when as a candidate he was asked about Obama taking the unemployment rate from 10.8% to 4.8% during his presidency.
Today apparently they're not fake.
35
Isn’t that the same Office of Management and Budget where Mr. Kudlow worked for President Reagan?
Does anyone really believe trump has not been feeding his Cronies & Sons insider economic and jobs information before publishing it to the rest of the world?
Given trump's proven dishonesty, how truthful do we take these numbers? After all he continuously campaigned for eight years that they were fake under Obama.
24
Once he was elected I started wondering if anyone is watching for any signs of insider training among his friends and family. Not especially for this tweet, but for his multiple other impulsive moves like slams at particular companies, his veering back and forth on tariffs, etc.
10
I started wondering the same thing when he started slamming Amazon.
This guy is like a 6 year old that you have to keep telling not to touch everything. "Stop putting your fingers in the cake", "Don't touch that, it's dirty", "We're in a museum, please don't touch that".
There's a reason why they release the numbers on a friday. So the markets don't become volatile before the weekend. Regardless of whether you think this is good news or not.
8
That is an insult to six-year-olds who, by that time, know the difference between right and wrong.
1
I have thought Trump and his minions have been manipulating the market and jobs report for a while now. This means the greedy people, in the know, will get out before the markets collapse and we will be stuck with the losses, just like the last time.
3
It is my understanding that an uptick in jobs is ordinarily the case in May and June, as employers hire summer help for summer-related industries. I'm happy about the report. Unhappy that Trump remains outrageously inappropriate and unprofessional.
11
There must come a time, post-trump, when the congress must address so many cases in which this president has broken protocol, tradition and precedent and convert those transgressions into breaking the law. Out framers weren’t perfect. They failed to anticipate a president like the current president who takes delight in running roughshod over centuries of traditions that his predecessors have honored. Never again should our nation have to endure such behavior. Should any successor attempt to mimic this president by departing from precedents that have served as well for centuries, let that president diverge not only from norms, let him or her have to consider breaking the law.
11
Gee, does anyone think Trump is cooking the books on the jobs report? Let's see, he tried to strong arm the Postmaster General into raising rates on Amazon, tried convincing his Attorney General to un-recuse himself. His quisling of a Secretary of Commerce surely wouldn't hesitate to do Trump's bidding and find a way to skew the jobs report to make Trump look good to start off the month of June, send the stock market artificially high, and counteract an otherwise dismal month of May news.
4
Trump broke the law, again. When will our elected officials stop him? And how much do you think he and his friends profited from insider trading?
26
He did not "break the law", but definitely shows lack of judgment and understanding of policy issues. More than likely we need to bear just two years of this dysfunction until it is over. Just think of this as a stress test on the US institutions. I am sure she will pass, with god's help. :)
1
This is outrageous. Kudlow told him the numbers yesterday. How many of his friends did he call last night?
Someone do something about this reckless man.
15
So this means trump is going to Be impeached and removed? If democrats ran the congress would it be true?
2
I would love to know what accounts controlled by the family and friends did trading based on this insider knowledge.
10
Hahaha. Remember when he used to say real unemployment rate was 40% + on the campaign trail in order to sow doubt about how well the economy had fared under O'Bama's watch. Must be all the new steel and coal jobs.
6
The point is not whether or not he breaks the protocol - the question is whether or not there is any protocol that he DOES NOT BREAK!
And what and where are these jobs? Seasonal? Heavy industry, light industry? IT? GOVERNMENT such as detention camps and border control or what?
In Trump's world HE IS AMERICA AND CAN DO WHAT HE WANTS IN AND WITH AMERICA! Creating his own protocol is the most harmless of all his Trumponian violations inside and outside of the United States of America.
12
So President Trump saw secret government information (Jobs report) and used a private twitter account to distribute that information to some people, and not to others (people he had blocked from his Twitter account).
Is this where we're supposed to start chanting "Lock Him Up?"
11
As if Donald Trump cares about anything or anybody other than Donald Trump and/or what effects Donald Trump.
I am amazed that people are still amazed by his behavior.
14
The current President of ALL of the divided population of a United States, at times, historically, in name only, is consistent in his words and deeds!Surprising few, if any, in his daily, harmful, voiced -words and implemented- deeds. Enabled to be personally unaccountable! To get away with words and deeds which can hurt and do someone.Perhaps even killing. A living example for a younger generation of what not to say, is helped to say! What not to do, is supported in his daily- doing! Even as the outcomes effect many known, unknown and unknowable others.A president, as an irresponsible person, and not as a critical national and international role,chooses to do and say whatever he wants to! Whenever! Wherever! Not at a discounted price! Of temporary or more permanent implications and consequences. HE says, and whether one hears, listens or chooses to be deaf, all of us pick up the bill. Day after day. And long after this spree of...He does, and some or many of US, complacent or not, are likely to pay. Sooner or later.But not HIM.
Immunized to personal responsibility! Allowed to continue to be unaccountable. In the Land of the Free And the Brave some create the bills. Others pay for them. Whether they, you and/or me, can afford to do so.Was what HE chose to do a fact or an alt-fact?Did HIS Twitter in some way dodge tradition, as his draft-dodging May have?How much more many-times-a-day documentation do any of us need in order to overcome toxic unaccountability? Ours! Not his.
Trump, every single member of his family, and his crony capitalist pals needs to have their investment portfolios and the timing of their trades scrutinized by law enforcement.
The schizophrenic economic pronouncements coming from this administration smack of criminal market manipulation.
61
Trump signaled to the market that were was a positive report coming, which is akin to insider trading. For those investors that lost money in the markets because of Trump there should be a class action suit filed against Trump personally for the financial losses he has caused Americans by his tweet signaling the outcome of the report.
33
Is it just coincidence that he is on the verge of pardoning Martha Stewart for doing basically the same thing?
19
This guy is such a criminal. Heaven knows what he is doing for his family and close "gang." What might he be telling to Carl Icahn? People are no doubt making fortunes off his signalling what actions are about to be taken.
8
The headline could just be "trump breaks protocol", period the end. Doesn't matter about what. Even if it's not related to his job as president, like, you know, eating a steak well done and with ketchup or wearing his ties too long, he breaks protocol.
2
A lot of people are saying that Trump has been sharing this advance info with friends and family all along. If this is true, and the WH has presented no evidence it's not, him tweeting it to the whole world is a more ethical choice.
3
why would the WH need to provide evidence he did not share with anyone? has he been accused? what happened to innocent until proven guilty?
Once again, much ado about nothing. Mr. Trump didn't reveal any actual numbers. All he said was that he looked forward to the report which, I appreciate, probably meant it was positive. So what? Apparently reading the many NYT readers comments this is another reason to impeach or criminally indict him. "C'mon Man!". All this does is cause independent voters to ask whether anyone is fair-minded anymore. Even this positive jobs report is being spun by the left as all the things it isn't. As my own kids might say "chill out and relax". Don't we want our country to succeed anymore regardless of administration or political viewpoint?
4
If I shared that news about my employer, it would be insider trading and I could go to jail. It's not a political viewpoint. It's an SEC violation.
6
My thinking exactly. I've voted for both parties as an independent I don't get many other choices, but the least the right and the left can do is learn to be cool-headed. Right now the left sounds just as insane as the right sounded during Obama. You have to wonder why we even let these people have their own parties, let alone vote- stop the insanity already and go back to doing your jobs!
Read the article. It is the Wall Street financials gurus that are having a meltdown, not NYT READERS. Trump is consciously and criminally involved in wholesale stock market manipulation with his executive actions such as the steel embargo where his buddy Carl Icahn profited mightily on Trump’s prior insider tip by selling millions in his steel stocks. Martha Steward went to jail for doing what Carl Icshn did. But now Trump is going to pardon har. We should have just cut to the chase and elected John Gotti President if he were still alive. Bet he gets the next Trump pardon.
3
So now the vagaries of the stock market can be correlated against the vagaries of the Twitter posts.
How fun. Maybe economics isn't such a dismal science after all...
2
The Press Secretary when asked if it was wrong, stated no because Trump didn't give out the number...yeah like Trump would have tweeted out "looking forward to the job numbers" if the jobs created had been 90k.
4
Desperate to take credit for what is the continuation of the Obama Economy. Fox talking call Obama incompetent for bringing the number down from 10 to 4.2. Trump wins accolades of genius for bringing it down to 3.8 a 0,4% drop. They forget the last 3 ninths sub par numbers and concentrate on the one that shows summer hiring.
27
It's not called "breaking protocol." It's called messing with the markets using insider knowledge -- a crime. Or should be. Don't you wonder who else he told ahead of the news? Valuable information, that.
56
Simply skirting the idea of looking into the violations Trump has committed and we all know his response will be "Witch Hunt!!". In the case any of his associates/profiteers are caught Trump's simple answer will be "I will pardon them"
It is time Trump gets a bit of his own unconventional protocol. No where does it say the sitting president can NOT be indicted and jailed, but until now it has been protocol NOT to.
May orange be the new orange.
57
Nip that one in the bud and don't supply the report to Kudlow until it's released. He obviously can't be trusted.
7
This is not about jobs numbers, it's about the ability to trade on privileged knowledge. The focus of the practice is to prevent insider trading by having "insider" information and the ability to act on that information.
It's also about the "honor" system - of which trump has none. With what is known, not suspected, KNOWN about mr. trump, Larry's naivete is lost on me.
What if, in 2008, Larry told mr. trump that they were going to let Lehmen Bros., Bear Sterns, Ameriquest Mortgage, etc. "go under" a few days before we all knew?
trump would have sold all his stocks in the companies just before the big crash! He would have been on the line to all of his friends and alerted them, too!
trump should be held accountable to breaking a law.
Oh, that's right. Congress doesn't care.
11
there are no consequences. as has been said in the past - if the president does it; it's not illegal.
Hey Senate, what about checks and balances? Oh wait, you sent the checks out and now the budget really doesn't balance.
5
“Sharing them (the jobs numbers) with the public is destabilizing and inappropriate."
trump doesn't care. what are you going to do about it?
Vote in November.
34
This is usually referred to as "front-running" and can be a leading indicator of irregular or insider trading activity. I'm wondering if the SEC is aware of this. I assume Congressman Ryan and Senator McConnell don't care.
21
Exactly; if Obama would have done this Sean Hannity would be headlining this 24/7 over at Fox news.
2
I’m sure the SEC commissioner reads the New York Times.
perhaps Kudlow is still abusing if he thinks this behavior is normal
1
Apparently, this morning Donald was left unsupervised with his twitter account for several hours. This is utterly unacceptalbe. If this is going to be a successful presidency, we need to ensure that the adult daycare workers who supervise the President are showing up to work prepared and on time every single day.
19
Congress needs to oversee an investigation on whether Trump actually "leaked" this information to associates to allow them to game the system.
Let's see if Ivanka, Jared or Mnuchin made any large purchases of stocks in the past 24 hours. This administration is as greedy as they are stupid.
21
It would be better if Congress opened an investigation on Benghazi and the death of our ambassador. America deserves to know the truth.
Guess this guy missed the last investigation.
Horrible! Like a bull in a china shop. The very idea of "confidential" or "discreet" is completely beyond Mr. Trump's understanding. They should revoke his security clearance. Can you image what he's telling Sean Hannity on a daily basis?
11
No laws will bound this oligarch. Trump needs to be broken before it's too late for this country.
4
Since when has Trump ever been concerned with the law?
7
Hunches. Impulses. Urges.
These are the things that systems of rules and laws are created to suppress. The government exists for only a very few reasons, but above above all it must provide stability, fairness, and justice. I have now lost hope that our government, in the hands of children masquerading as adults, is capable of providing even the barest level of what is required of it.
9
I believe this article suggests correctly that should be an investigation of those close to the president to monitor their investment activity before and after major announcements that have effected recent day swings in market volatility.
12
Yep, and hopefully they will also get some interviews with some very senior securities and commodities law practitioners so we can find out just how much trouble can be expected. I’m surprised they haven’t done it already. New York and Washington certainly have plenty of experts they can call.
Considering, yesterday, Trump imposed tariffs to put in motion job losses; he needed something to balance yesterday's market plunge. Again, Trump is a one man wrecking machine, when it comes to the economy. He continues to inject uncertainty. Eventually, his 1% minders will grow sick of flat earnings and push for his removal.
As for the jobs report, it is not the number of jobs, but what kind of jobs they are. Also, how much salaries are increasing. Also add, how many remain underemployed, are not getting hired because of age bias, the work force participation rate, and the true unemployment rate, which is now just about over 6%.
So, technically, in a job market like this, raises should be plentiful, and real good paying jobs should be plentiful. That is not happening, because 1% CEOs, their boards, and investors are pocketing the tax cuts.
Trump can tweet all he wants, but the economy today is no where near what it was in the 1990s.
12
Presidential powers include unfettered ability to: reveal classified information, pardon criminals, commute sentences, interpret how Federal regulations are implemented, appoint Federal and Supreme Court judges, engage in international diplomacy, and lead our armed forces. The country's founders planned that Congress would provide a check on any abuse of these great powers. Their plan was pretty good, but even they never planned for Trump, McConnell, and Ryan.
41
Mr. Trump's hands are not the hands that move this economy. Those hands were in place before he took office. The economy is cycling as it always will. This should come as a boon as well as a warning. The US Chamber of Commerce is stating that 2.6 million American jobs are at risk if Trump's proudly wrought tariff wars persist in duration. With the loosening of the reins on banks, the Volcker Rule, and the Dodd Frank Act, Wall Street, one cannot help but be reminded of 2007-2008 and the glorious expectations leading up to the debacle associated with those years. How much did we learn, if anything?
19
Trump and the GOP effectively borrowing a trillion dollars on the backs of our children and grandchildren -- has a lot to do with this "hot" economy. So yeah, their fingerprints are on it. And they know that when the spaghetti hits the fan as it inevitably will, someone else will get the blame.
3
This time is different!
1
Larry Kudlow, the one time chief economist for Bear Stearns, should know better. This is a big deal...it violates custom, protocol and the law.
Then again, his boss cares nothing about custom, protocol and the law, so, why should Kudlow.
Every day, every single day, this guy Trump finds new ways of breaking something.
263
The real issue is that it violated the law. Breaking custom, protocol and tradition are not actionable. Breaking the law is (or at least it used to be before this President took over).
24
Kudlow of Bear Stearns brought that organization to full-on bankruptcy and it ceased to exist. It was a gambling casino. What a crew, right?
8
Trump tweets "Looking forward to seeing the employment numbers at 8:30 this morning."
I am looking forward to his last day in office.
464
I'm looking forward to CNN broadcasting him being read his Miranda rights, preferably by a black and/or female cop, and led from the White House in handcuffs.
20
The lame way his opponents are going about it, that date will be circa January 2025.
4
Hardly. You fail to recall the nearly 3 MILLION votes by which Trump LOST the popular vote in the 2016 election. Then chalk up all the voted-for-Trump-then-but-see-how-he's-failing-the-country-now Americans out there, and well, according to my phone app, Trump's last day in the White House is now down to 963 days and some odd hours, minutes, and seconds. (885 days if you consider election day to be his last day in power.)
Thank goodness there will come an end to this madness.
I'm so sick of reading those first eleven words.
When can the press stop dancing around the fact that Trump is a bully who violates laws and lies with impunity because no one in his party has the guts to stand up to him?
43
How could he look forward to seeing something he'd already seen??
93
He forgot.
1
I would think Trump giving his buddy Millionaires and Billionaires investors a head start of buying up shares to gain a head start on the obvious jump in the stock market should be illegal, it seems like there is nothing subtle with this dope.
93
I think when we say he’s “stupid“ or a “dope” we are underestimating this criminal president. I think he knows exactly what he’s doing and that he will be supported by his Republican co-conspirators doing anything he wants as long as they all benefit.
3
It's always all about him; that's all that matters. And when inflation or a meltdown hits, it'll be Obama's fault.
21
I'm surprised that Trump isn't upset with continued progress in the monthly labor statistics, since it's a trend that started with Obama. I guess he finally came across something he inherited from his predecessor that he doesn't want to destroy. But then again, he seems to be working hard to do so with his inexplicable imposition of tariffs on traditional trading partners.
23
By the way, when Trump acts like this, it contributes to volatility and general uncertainty: we have no idea WHY he pulls this stuff, and it could be anything from arrogance to stupidity to insider trading to squid-inking the legal trouble he's in.
And volatility, uncertainty, won't help plain folks one little bit, especially with dimwit tariffs thrown on top.
Oh, and I wonder when Trumpists will figure out that you can get away with a lot by mortgaging the future? When the deregulation wnd all the rest sets up the next gigundo crash?
22
I’m “looking forward” to Donald Trump tweeting his thanks to President Obama for leaving him the great economic recovery that fell into his lap in October, 2016.
194
@Sox -- don't hold your breath, pal. Remember, this president said he "inherited a mess". What his Mid-West supporters will inherit are hard times thanks to his trade wars with our allies and confrontational tariffs that will only cause retaliation by China.
11
I'm thinking that his moving the markets by his flippant comments is benefiting somebody...
14
As a former bond trader I would have loved to have seen this tweet. Maybe it's not insider trading in the strict sense because he put it out in the public domain, but it's pretty dumb.
17
Of course he did. He's an impetuous child with no emotional regulation. I'm pretty sure his prefrontal cortex is entirely non-functional.
75
He’s not a child, he is responsible for his words and actions.
1
He should be indicted. This is serious. There should be an investigation into whether he informed people last night. People who could benefit from the information. People like his family members. Everybody knows he can't keep his mouth shut. Everybody also knows he would do anything to prop up the finances for himself and his family.
512
Did he share this with Sean Hannity??? FOIA request his call logs to determine if he violated the law!
11
Imagine, Donald Trump breaking protocols. He probably can't even spell the word, let alone understand it.
85
So we have an article all about timing. Well, that's just the point. This administration is so smart that it feeds a hungry support base. It gives them minor technicalities to chew on so that they feel secure in beating the system on every turn. Well hinting before the market opens is a good back story excuse for those that traded. Timing, timing, timing.
5
If the support base is Wall Street then there is a problem. This is especially questionable if he is feeding info to family members and his Fox News propaganda cronies.
2
Who needs rules when we have Donald Trump?
DT was raised to break the rules, the sure way he and his cronies could make a buck and get ahead. DT mastered the art of taking advantage of any situation, even if it meant towing the line of both law and decorum.
DT also mastered the art of not getting caught, something that was instilled in him from early on.
Now is the time of reckoning for DT as president, and only time will tell whether he will be held accountable for his many misdeeds, past and current.
12
trump didn't just break protocol. this action makes Trump criminally liable for aiding, abetting and trading on inside information and breaking rules specificly addressing the role of the president.
275
"If the President does it, it's not a crime" Richard Nixon
5
Probably why he will give a pardon to Martha Stewart? Sets up how he thinks he will get away with it...
2
and there are no consequences. as has been said in the past - if the president does it; it's not illegal.
when will the teflon wear off the teflon don. so dangerous to accept this as the new normal.
and the comment above from cato: "He didn't give anything away by his tweet. Only liberal bitterness here, nothing more." is really a sign that reality has escaped the building.
42
Had this disclosure come from the Commerce Department, the leaker would be charged with violating the terms and conditions of his/her office and fired. The next step would be an investigation of market transactions by the leaker and all of his/her associates. If those transactions occurred, they would be followed by charges in a court of law.
This was a grave and unprecedented violation of policy with real world consequences.
Sadly, this is only the latest example of Trump either, charitably, not understanding the gravity of his actions, or, less charitably but probably more accurately, believing that he is subject neither to the rule of law nor decency.
236
The insiders will benefit big time only once. From now on, everyone will know that the report is bad if Trump doesn't tweet.
12
"From now on, everyone will know that the report is bad if Trump doesn't tweet.
An excellent time to do some short selling, wouldn't you say?
2
With a few clicks on his computer, Trump makes a fortune on getting early news of jobs report . He and the rest of the plutocrats did well, the rest of us work 2 , 3 low paying, no benefits jobs. Sad .
50
Reading the text of the rule, it’s clear that Trump did violate it. But I searched in vain for language that describes punishments for infractions. Rather, the implication is that these procedures are to be followed as a matter of sound policy, in the interest of good government. None of which describes the Trump administration.
12
Hey, if there's a way to grift from anything, HE is all over it.
Just saying.
48
I'm sick and disgusted with the runaway train of this administration that tramples every norm and convention it can find as a matter of policy. It's part and parcel of its contempt for fundamental decency and the common weal. The message here as in so many other areas is we're a regime unto ourselves, like it or lump it.
11
More of the same old trump corruption at work that his inner circle love from this very dishonest, insecure individual. Hopefully the SEC will take a deep, hard look at all unusual trading activity from the usual trump supporters and cronies, and family members.
15
As if this is a surprise that he would break one more rule, law, statute, protocol, whatever? As if the potential for insider trading is not a big thing?
But what I want to know - are those new jobs living wage jobs, or just enough to say they were jobs, lower the UER, and celebrate with a Big Mac and a diet Coke?
7
It's not too hard to figure out. The market was down yesterday, Trump was given the employment figures yesterday, he makes a not-too-cryptic tweet to signal his buddies to buy now while the market is low. And, amazingly, the market is up today!
No wonder he wants to pardon Martha Stewart.
163
Thanks, @Suzanne. That's exactly what I was thinking.
11
NYT, please: Just start every article with the disclaimer that you hate the President as well as everything he says and does.
Just don't even bother PRETENDING that this is unbiased reporting.
It's getting old.
4
Trump supporters, please: start every comment with a disclaimer stating that you no longer care about norms, ethics, and laws—as long as Donald Trump is in office. As an addendum, admit that if a Democrat engaged in a fraction of what Trump has done during his 18 months as president, you would have been calling for serial Congressional investigations and impeachment.
Don’t pretend that the real story here is “biased” reporting. That got old a long time ago.
152
Maybe he should stop doing horrible things. And maybe his base should stop enabling him. That's the crime. NYT is just the messenger. And they do an excellent job.
12
What's 'biased' about it?
Between the article and some of the better informed comments, it looks to me like there has been a breach of protocol, if not regulations. There is something getting old in all this, but it is not the unemotional reporting of the breaches of protocol, ethics, traditions, morals, regulations and laws of the current US president.
9
I just think we should all be happy that Trump is finally moving the economy along!!
2
Moving the economy along for whom?
2
The economy was moving along just fine thanks to President Obama. Trump has done nothing to help it and he's done quite a few things that will end up hurting it.
5
"finally"?
Perhaps you're being sarcastic.
There has been a steady uptick of the economy since 2009, during President Obama's term. Remember him, the guy who had to oversee the worst economic downturn in decades?
3
Not the worst thing Trump has done, just more evidence of his lack of control and disregard for anything outside himself.
5
The Trump presidency is a reality TV show with his poorly educated followers unsuccessful rationalizations for Trump’s churlishness. The Trump presidency has become a lucrative market for Right Wing media.
It’s the way we end our democracy.
25
With every passing day Trump becomes more emboldened,or perhaps desperate, to do things simply because he can. He is having the time of his miserable life and there is little that anyone can do about it. A day of reckoning can not come soon enough. The question is, how and whether.
11
Sometimes, I think this paper, the NYT, does the worst POTUS in our history a massive favor with ‘pearl clutching’ articles such as this.
Stop worry about the nonsense, there is plenty of other garbage to worry about.
1
Don't fool yourself. It all matters.
2
You’re stretching. Viewed from a distance, some of these attempts to manufacture a crisis out of the most trivial of transgressions just eat into your credibility. Save your ammunition for the real crimes.
He really didn’t say much, and the market veers wildly on the craziest of divinations all the time anyway.
3
First, no President or Admin member has ever done this before.
Second, the market reacted to it, increasing volume and upping bonds.
Third, what makes you think Trump didn't call up his Wall Street buddies and family last night?
Remember the London Whale? Doesn't take much to steal a lot.
57
Sorry, but insider trading is breaking the law.
4
Insider trading IS breaking the law! Of course, Donald a man who breaks the emoluments clause of the Constitution has no problem giving his friends tips on the market!
Donald inherited a growing economy from President Obama! In seventeen months, it's hardly Donald's economy!
Oh! And just wait until his tariffs kick in!
35
Blame Congress. The emoluments clause is clear.
But no one wants to control any of the gambling with other people's money. The House wins. Little people pay taxes.
What don't you know?
I doubt if Trump thinks insider trading should be against the law.
115
Trump does not think the laws apply to him because he’s “special“. And Congress supports this no matter what he does. I wonder they all got richer?
3
He didn't give anything away by his tweet. Only liberal bitterness here, nothing more. Suggesting that he very well might have given his friends the inside info to make millions is insulting and yet another example of the liberal double-standard we see on a daily basis in the so-called non-OpEd columns of the NYT. See you in November.
10
“He didn’t give anything away by his tweet.”
So why did he send it out? It’s the first pre-jobs report tweet we’ve seen from him.
Willful blindness is the purest form of bitterness.
138
He may not have knowingly given inside information, however, ignorince of the law by the Pres. of the U.S. is unaccepable. Then again, observing him over this past year, could have been his need to bolster his ego!
10
It was against the law. A criminal act. One of many.
55
Certainly a modification of insider trading!
96
Why yes, a tweet like that can make me a ton of money on the eurodollar this morning...
2
Why are people still so surprised about the actions of this malignant narcissist and habitual liar? You'd think we all know by now what we can expect from a person with a personality like this. We have 2 more years of this unless we stop the Trump Party in November and take away their power thus resulting in taking away his power. It's up to you America to stand up, once again, against people like him.
If you sitting at home, wondering "what can I do?" VOTE!!
Gerrymandering will not have an influence this time around.
383
he's good at managing the economy. be happy about that.
1
Do I vote for Tweedle Dee or Tweedle Dum? Give us a real choice. The two party system is just rearranging deck chairs.
1
It's not much of a protocol if you allow him to get away with it, just like him getting away with everything that he does.
279
I think we should move beyond "stunned." He doesn't play by the rules. It's a power game to him, congress, and his supporters. That's why anything is OK. I don't understand why we keep going back to stunned, instead we should fight back in the same way.
503
Fight back by voting and supporting Democratic candidate Trump and the Republican Party that supports him must pay; even more important, a Democratic majority will keep Trump in check.
59
I wish the Times wouldn't use euphemisms such as "breaks protocol". He broke the law. As a former bank economist, I had to announced the unemployment numbers on the trading floor. I wasn't allowed to crack a smile or make any indication of whether numbers were good or bad. The President's tweet was basically touting what he saw as a good number, and it no doubt influenced the markets. Just one more drip-drip-drip as we erode -- not protocol -- but the rule of law.
1351
Yeah, he broke the law. So what? It doesn't matter. He's been breaking laws since the second he was inaugurated. He doesn't care. Worse, he doesn't know he should care. And the people in power who could do something about it don't care, either. It's maddening and it's hopeless and no amount of headline tweaking will make a difference.
302
Legally, the president can reveal classified information and can change internal disclosure rules. Not saying that's a good idea, but that the deadline is correct.
8
What specifically is the law referred to?
2
Have you ever watched the slow erosion of a building foundation? The collapse is swift and unpredictable. Trump's actions reflect a complete lack of reverence for the office of the United States Presidency. History will not be kind to the name (brand) Trump.
423
Fate punishes us now.
8
David Cay Johnson, former Times reporter says, "Trump has released termites" into the American house.
22
For me, history not being kind to orangeaid is a complete unknown.
A copy of the internet prior to orangeaid coming into office was moved out of the country with the firm. They knew it was going to be wiped out with lies. What will history see?
If there is a god, only god knows.
4
This guy is incredible. I’m sure we’ll hear, “What? Who, me?” yet again from the administration and his supporters in the wake of yet another breach by the president, and/or they'll scramble to dig up something similar done by a Democrat.
277
I hope God made out like a bandit on that insider information, since the core of Trump supporters believe only God could've gotten Trump elected.
14
Obama & Clinton conspired to keep him from revealing the report. Dems wrote the laws & protocols that are trying to stop his agenda. Oh yeah. on & on...
8
I've been in the securities industry for 38 years, first as a stockbroker, then a branch manager for some regional firm's New York offices (with up to 100 brokers to supervise0, and finally as president and Chief Compliance Officer of my own small broker-dealer.
There's a term for what Trump did with his Tweet this morning. It's called "insider trading", which is a violation of securities laws even if the "leaker" does not personally buy or sell securities based on non-public information.
Interestingly, I was a branch sales manager of a large New York office during the first highly-publicized wave of indictments against insider trading in the mid-1980s (remember the "Yuppie Seven"?).
The prosecutor of these cases, from the Southern District of New York was.....Rudolph Giuliani.
1015
"Insider trading" is now legal, since Trump is going to pardon Martha Stewart. So we should not be surprised when the president himself indulges in it to make himself and his rich friends even richer.
The list of Trump's actual crimes grows daily. His treason in stealing the 2016 election was just the beginning.
37
I wonder what Trump's kickback was from this "insider" tip? As if breaking the Emoluments Clause isn't enough, or the growing evidence of obstruction of justice and treason?
40
Mr. Palmieri,
Wide dissemination of information at the identical time is not insider trading, it is the opposite. Trump's Twitter account is the most watched and most viral medium on the planet.
Dissemination by superior government officials (President) is equivalent to dissemination by inferior government officials (BLS). Nobody is stealing anything.
So, no insider trading, or more accurately, since there was no trading, illegal dissemination of material non-public information that could be expected materially to affect markets. None.
3
So POTUS cannot look forward to something with excitement or anticipation? Has those whom attempt to ridicule this POTUS for every step or work he makes now set to eliminate optimism?
The division and pettiness created by the Democrats are continuing to erode our society instead of embracing optimism and good economic news.
6
Since his tweets affect the stock market, it's market manipulation. The SEC has strict rules about forward looking statements. This was a good report, so it encouraged buying. If it had been a bad report, the market could have gone limit down.
Not everything is political.
5
Your observation completely missed the point. Trump broke respected and longstanding protocol to brag about his "accomplishment" before the report was released to the public.
As for division, pettiness and the "erosion " of our society, he's managing to do that quite well with no assistance from anyone.
5
Oh please. Of course he can “look forward” to it. He’s not supposed to prematurely, publicly broadcast it on Twitter because traders can improperly take advantage of that information. That’s why the protocol exists. How is that remotely difficult to grasp?
God, no wonder we have this “president.”
5
Wink, wink, nod, nod, tweet, tweet.
Isn't this the epitome of insider trading?
650
Of course it is. Savvy investors and Trump's rich friends know that's what it is and take advantage, as they always do. So what if it's illegal? Trump is about to pardon Martha Stewart, convicted of insider trading. She still claims there's nothing wrong with it, and apparently Trump agrees.
61
Buying stocks himself before the data comes out to the public is insider trading. A public statement is the opposite of insider trading.
I dislike Trump too, but this is like pointing out a scratch on the back bumper after your car hits a tree.
4
Mensabutt:
Disseminating "inside information" to the whole world at exactly the same time is the opposite of insider trading. In fact it is the legal thing to do.
How is a tweet directly and indirectly read by probably a billion people wink wink?
I am very confused.
2
You mean he violated the integrity of US markets.
"Broke protocol" would be if he offered KFC and cronuts to visiting dignitaries.
566
I'd love to see him "eat crow" and I'm not particular about what part of the crow, but what you suggest seems appropriate.
12
The NYT and the press routinely fails to report words and behavior by Trump with a context and meaning that provides news. Trump lies with impunity because the press failed to report that Trump lied when he was seeking the nomination and before that. When Trump lied about Obama’s citizenship and his religion, the press liked the headlines more than the truth.
The continued acquiescence to Trump’s lies and this time to precautions protecting markets from insider trading is lethal. The news and editorial boards at this paper must end their habit of “editing” Trump in his favor.
The real story here, for a man with a long history of swindling his partners and competition and employees, what motivated Trump to announce the employment numbers? Did any Trump friends, or cronies, or family make trades advantaged by inside knowledge?
It seems that the press wants more print and no end to this outrageous buffoon. When will th NYT and all of the press conclude , with James Clapper and Michael Hayden, that all evidence points to Russia succeeding to elect Trump and that America and the world relies upon the Fourth Estate to protect it from scoundrels and usurpers.
17