KBW: Trump Is ‘One Tweet Away’

Allow us to reiterate something for anyone out there who may still be confused: Donald Trump is in a downward spiral from which he cannot recover.

Of course that should be abundantly clear from the universal backlash he received from corporate America earlier this week after he decided it was a good idea to use a press conference on infrastructure to talk about Thomas Jefferson’s slaves.

But in case you were wondering whether it’s completely lost on Trump that things are looking quite grim, the answer is “no.”

Because the New York Times is out reporting that he met with donors on Thursday evening amid the controversy. And although the dinner was scheduled, you know damn well what everyone was talking about.

Here are the brief details:

The invited donors and their families have combined to donate millions of dollars to committees supporting Mr. Trump’s campaign and inauguration, and Mr. Trump’s team hopes they will contribute millions more to groups pushing his legislative agenda. They included the New York investor Robert Mercer, the Kentucky coal executive Joseph W. Craft and the Wisconsin roofing magnate Diane Hendricks, according to people familiar with the dinner

Mr. Mercer’s presence was noteworthy, since the White House confirmed Friday that Mr. Trump’s chief strategist, Stephen K. Bannon, had been ousted. Mr. Mercer has long funded the political and business activities of Mr. Bannon, who was brought onto Mr. Trump’s campaign at the recommendation of Mr. Mercer’s daughter, Rebekah Mercer.

Other donors also were invited to Thursday’s dinner but did not attend, including Paul Singer, the New York hedge fund billionaire.

President Trump dined on Thursday night at his Bedminster golf club with a handful of his most generous donors, as he tried to build support for his hobbled legislative agenda amid mounting criticism from within his own party, three people briefed on the dinner said.

The dinner was scheduled weeks ago as part of a donor-outreach initiative by the Trump administration as it prepares an overhaul of the tax code, according to several people involving in the planning.

Meanwhile, KBW is out reminding you of precisely what we said just a few minutes ago: namely that moving the furniture around isn’t the solution, because the problem is Donald Trump.

Here’s analyst Brian Gardner:

  • The immediate reaction to Stephen Bannon leaving the White House may be an assumption the departure will improve the White House’s inner workings
  • However, the last 7 months show that regardless of what the White House staff intends for President Donald Trump, he’s only a tweet or impromptu press conference away from wrecking those plans
  • Trump’s inability to stay on message — not personnel churn at the White House — as the reason administration hasn’t been able to push agenda through Congress
  • Until there’s a change in how Trump conducts his job, KBW is increasingly pessimistic on prospects Republican agenda will be implemented, especially regarding taxes and infrastructure

Any questions?

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One thought on “KBW: Trump Is ‘One Tweet Away’

  1. Question, H. As process evolves of the Trump ride becoming a smoking crater, how do we trade it? Before, during and after.

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