President Donald Trump’s latest money-making scheme spurred an on-air shouting match on MS NOW Friday morning.
Debate became heated on Stephanie Ruhle’s “Money Power Politics” as guests discussed a Trump Media & Technology Group plan to sell a data feed that will give banks and trading firms faster access to posts from Trump that impact global markets and stock prices.
“For me, this announcement by the president makes me want to puke, literally puke,” said CNBC analyst Steve Liesman. “It is one of the most upsetting things I have ever heard.”
Liesman explained his frustration came in the context of two decades reporting on embargoed government data.
“Data is a public good,” he said. “The idea that the president could hold back information to the public when the rest of the government is involved in a massive effort to make sure that key economic data like payrolls, GDP, like inflation, comes out to everyone at the same time is disgusting.”
Co-panelist Dan Nathan, a former trader, was more sanguine, suggesting a few seconds or minutes is no big deal in the age of the internet.
When Ruhle spoke over Nathan to remind him of the significance of this move coming from the “White House,” Nathan shouted back, “I’m not defending it!”
Ruhle condemned Trump for trying to “make a buck” and fellow observers for not calling him out on it.
“I’m not going to vomit all over the place about this,” Nathan snapped back. “It’s like 152 on the list of grifts that are coming out of the White House. My only point is does it disadvantage investors? I don’t believe so.”
“Yes it does!” Liesman roared back. “If they get the early profit on it there’s less profit for regular investors.”
– YouTube youtu.be
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