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Will Trump’s Problems Cause You to Lose Money?
No matter what is going on in the world of politics, the business of investing is to make money. Smart investors are apolitical. Their only concerns with politics have to do with the effects of laws and regulations on investing profits. We just wrote about whether or not the mid-term elections could cause you to lose money. But, now the question comes into closer focus with the legal troubles of those close to Donald Trump. What is going on and should you be concerned? In short, will Trump’s problems cause you to lose money?
Fraud Convictions for Manafort and Guilty Plea by Cohen
Just yesterday Trump’s former campaign manager was convicted of several counts of fraud and his former lawyer pled guilty to other crimes, while also implicating the President of the United States in a cover-up. The New York Times writes about all the President’s crooks.
On Tuesday afternoon, the American public was treated to an astonishing split-screen moment involving two of those people, as Mr. Trump’s former campaign chief was convicted by a federal jury in Virginia of multiple crimes carrying years in prison at the same time that his longtime personal lawyer pleaded guilty in federal court in New York to his own lengthy trail of criminality, and confessed that he had committed at least some of the crimes “at the direction of” Mr. Trump himself.
Let that sink in: Mr. Trump’s own lawyer has now accused him, under oath, of committing a felony.
Only a complete fantasist – that is, only President Trump and his cult – could continue to claim that this investigation of foreign subversion of an American election, which has already yielded dozens of other indictments and several guilty pleas, is a “hoax” or “scam” or “rigged witch hunt.”
To say the least, this could be bad news for Trump. But, back to the point, will Trump’s problems cause you to lose money?