Money man: Robert Mercer

Reclusive U.S. billionaire Robert Mercer
helped Donald Trump win the
presidency. But what is his ultimate goal?

Bannon’s relationship with Robert Mercer is cited in a remarkable lawsuit brought by David Magerman, a former employee of Mercer’s hedge fund, Renaissance Technologies. On its surface, the lawsuit is a wrongful dismissal complaint against Mercer. But at its heart, it is an indictment of Mercer’s character and reputation that draws together his political views, his connections to Bannon and Trump and racist comments Mercer allegedly made to Magerman directly.

.. “I have a lot of respect for Bob Mercer. I think he’s a very intelligent person, a very thoughtful person,” Magerman told me recently. But he quickly added, “If the world knew what he was trying to do, they wouldn’t stand for it.”.. He’s fond of talking about the time, years ago, when a colleague he was visiting summoned a helicopter to his estate to whisk them into Manhattan.

There was no life-or-death reason for the extravagance, not even a business emergency. They were just going to a dinner, he says, and his friend rented the chopper to avoid the bother of traffic. From the helicopter, Magerman saw his fellow citizens travelling along a thin ribbon of perfectly good highway below.

.. “Either you are in awe of the grandeur of commuting, taking a two-hour drive and turning it into a helicopter ride, or you can just be, like, disgusted by the waste.” As though there were even a sliver of doubt, Magerman added, “I was in the latter category.”

It wasn’t just the waste that gnawed at him — it was the trespass of a moral principle. The helicopter commute was an example of something that, if everyone did it, would obviously be wrong. ”10,000 people can’t be flying helicopters from their backyard,” he said.

.. Magerman calls that helicopter trip “extra-societal” and “outside the realm of normal behavior,” words that also fit what he believes is wrong with Mercer’s relationship to the president. Magerman thinks Mercer has bought special access to impose “extra-societal” views on the Trump administration.

.. “The ultra-wealthy of today differ from the ultra-wealthy in past eras in that they have, a lot of them, no stake in the infrastructure of society,” Magerman said. He’s seen that their wealth does not depend on the health and stability of the country. In fact, they get rich on volatility and instability.

.. Mercer is not a finance guy; he is a computer scientist. But his research developing speech translation programs through pattern recognition can apparently also be used to discover obscure patterns in the financial markets and make an enormous fortune

.. Instead of poring over prospectuses and profit and loss statements, they apply their sciences to the data that affect markets. It’s called quantitative analysis, and they themselves are known as “quants.”

.. Medallion has pumped out annualized returns of almost 80 per cent a year, before fees.” Even in a bad year, it churns out more than 20 per cent returns.

.. “The people I worked with were great scientists. I mean, we could have solved a lot of important and interesting problems if we’d worked on different things. Instead, we made hundreds of millions of dollars,

.. The problem that Renaissance Technologies faced trying to predict market behaviour is, he said, essentially the same problem that Cambridge Analytica faces in voter analysis and persuasion.

.. Data analysts are largely skeptical that Cambridge Analytica could have had a decisive impact on the 2016 U.S. election or the Brexit referendum, but Magerman brushes that off with a reminder that so-called experts were also skeptical that computer algorithms could predict financial markets.

.. , “Bob thinks the less government the better. He’s happy if people don’t trust the government. And if the president’s a bozo? He’s fine with that. He wants it all to fall down.

.. They didn’t get rich by providing the goods, services and infrastructure that bring people into direct contact with their community and its interests — they got rich in financial markets, making money for the sake of it.

.. But the real shrinking of the role of government has been in Trump’s choice of cabinet members, whose aim seems to be to assail the policy goals of their departments.

Thus, the

  1. secretary of energy is someone who once campaigned to get rid of the Energy Department; the
  2. Secretary of Education has advocated against the public schools system; the
  3. Environmental Protection Agency director has a record of repeatedly suing the EPA; and the
  4. Attorney General has a reputation for opposing the expansion of civil rights.

Other departments are reportedly withering from neglect, as key positions are filled by unqualified people or not filled at all.

.. his daughter Rebekah was part of the transition team that helped Trump choose his cabinet.

.. Was it all worth it?

It’s like, was having surgery worth it?” Magerman says. “I mean, it was necessary. There was a disease that I thought, like, maybe I had a scintilla of a cure for.”

Inside the ‘adult day-care center’: How aides try to control and coerce Trump

During the campaign, when President Trump’s advisers wanted him to stop talking about an issue — such as when he attacked a Gold Star military family — they sometimes presented him with polls demonstrating how the controversy was harming his candidacy.

During the transition, when aides needed Trump to decide on a looming issue or appointment, they often limited him to a shortlist of two or three options and urged him to choose one.

And now in the White House, when advisers hope to prevent Trump from making what they think is an unwise decision, they frequently try to delay his final verdicthoping he may reconsider after having time to calm down.

.. The president is often impulsive, mercurial and difficult to manage, leading those around him to find creative ways to channel his energies.

.. Some Trump aides spend a significant part of their time devising ways to rein in and control the impetuous president, angling to avoid outbursts that might work against him, according to interviews with 18 aides, confidants

.. “I restrict no one, by the way, from going in to see him. But when we go in to see him now, rather than onesies and twosies, we go in and help him collectively understand what he needs to understand to make these vital decisions.”

.. Trump’s penchant for Twitter feuds, name-calling and temperamental outbursts presents a unique challenge.

.. One defining feature of managing Trump is frequent praise, which can leave his team in what seems to be a state of perpetual compliments. The White House pushes out news releases overflowing with top officials heaping flattery on Trump

.. One regular practitioner is Treasury Secretary Steven Mnuchin, who praised Trump’s controversial statements after white supremacists had a violent rally in Charlottesville and also said he agreed with Trump that professional football players should stand during the national anthem.

.. Former treasury secretary Larry Summers wrote in a Twitter post, “Mnuchin may be the greatest sycophant in Cabinet history.”

.. Especially in the early days of his presidency, aides delivered the president daily packages of news stories filled with positive coverage

.. Some aides and outside advisers hoping to push their allies and friends for top postings, such as ambassadorships, made sure their candidates appeared speaking favorably about Trump in conservative news outlets — and that those news clippings ended up on the president’s desk.

.. H.R. McMaster, the president’s national security adviser, has frequently resorted to diversionary tactics to manage Trump.

.. he will volunteer to have his staff study Trump’s more unorthodox ideas

.. When Trump wanted to make South Korea pay for the entire cost of a shared missile defense system, McMaster and top aides huddled to come up with arguments that the money spent defending South Korea and Japan also benefited the U.S. economy in the form of manufacturing jobs

.. If [Trump] wanted to do something that I thought could be problematic for him, I would simply, respectfully, ask him if we could possibly wait on it and then reconsider,” Nunberg

.. During the campaign, after reading a story in the New York Times that said Trump’s advisers went on television to talk directly to him, the candidate exploded at his then-campaign chairman, Paul Manafort, chastising his top aide for treating him like “a baby,”

.. The president appreciates how Mattis, a four-star Marine general, speaks to him candidly but respectfully and often plays down disagreements in public.

.. Mattis’s focus has been on informing the president when they disagree — before the disagreements go public — and maintaining a quiet influence.

.. Mattis has also gone out of his way not to suck up to the president

.. Mattis has also worked to get on Trump’s good side by criticizing the media for putting too much emphasis on his disagreements with Trump

.. When he has broken with the president, Mattis has done it as subtly possible.

..  Several people who have met with Trump in recent weeks said he mocks other officials in Washington, especially fellow Republicans.

.. Trump upset Senate Majority Leader Mitch McConnell (R-Ky.) and House Speaker Paul D. Ryan (R-Wis.) by cutting a deal with Democrats. In subsequent days behind closed doors, the president mocked the reactions of McConnell and Ryan from the meeting with an exaggerated crossing of his arms and theatrical frowns.

.. “They have an on-the-record ‘Dear Leader’ culture, and an on-background ‘This-guy-is-a-joke’ culture,”

Loyalty to Trump isn’t enough

Trump demands not just loyalty but flattery, too. He insists that his courtiers treat his pronouncements, however absurd or offensive, as infallible holy writ. Members of his Cabinet have made a humiliating bargain: humor him, suck up to him, and maybe — just maybe — he will leave you alone and let you make policy.

.. Trump demands not just loyalty but flattery, too. He insists that his courtiers treat his pronouncements, however absurd or offensive, as infallible holy writ. Members of his Cabinet have made a humiliating bargain: humor him, suck up to him, and maybe — just maybe — he will leave you alone and let you make policy.

.. Retiring Sen. Bob Corker (R-Tenn.), chairman of the Foreign Relations Committee, encouraged Tillerson to stay on because he, Defense Secretary Jim Mattis and White House Chief of Staff John F. Kelly “are those people that help separate our country from chaos.”

.. other Cabinet members have made their peace with the Sun King’s demand for unctuous deference. Treasury Secretary Steven Mnuchin looked as if he were in physical pain as he went on the Sunday shows and defended Trump’s demand for NFL players who kneel during the national anthem to be fired.

Chief economic adviser Gary Cohn, who almost quit after Charlottesville, told reporters he stayed on for the “once-in-a-lifetime opportunity” to enact sweeping tax reform.

.. What these officials don’t seem to fully grasp is that their policy initiatives can be undercut by the president at any time, and probably will. Look at budget director Mick Mulvaney, who has big ideas about shrinking government and the deficit. He didn’t anticipate having to wipe away Puerto Rico’s debt, which Trump offhandedly promised to do.

Bible Studies at the White House: Who’s Inside This Spiritual Awakening?

A spiritual awakening is underway at the White House.

Some of the most powerful people in America have been gathering weekly to learn more about God’s Word, and this Trump Cabinet Bible study is making history.

They’ve been called the most evangelical Cabinet in history – men and women who don’t mince words when it comes to where they stand on God and the Bible.

Ralph Drollinger of Capitol Ministries told CBN News, “These are godly individuals that God has risen to a position of prominence in our culture.”

They’re all handpicked by President Donald Trump and Vice President Mike Pence.

“I don’t think Donald Trump has figured out that he chained himself to the Apostle Paul,” Drollinger laughed.

Drollinger is a former NBA-playing giant of a man with an even bigger calling. He founded Capitol Ministries with the idea that if you change the hearts of lawmakers, then their Christian world view will guide them to make good policies.

He’s started Bible studies in 40 state capitols, a number of foreign capitols, teaches weekly studies in the U.S. House and Senate and now leads about a dozen members of President Trump’s Cabinet in weekly studies of the scriptures.

Health Secretary Tom Price, Energy Secretary Rick Perry, Education Secretary Betsy DeVos, Agriculture Secretary Sunny Perdue, and CIA Director Mike Pompeo are just a few of the regulars.

“It’s the best Bible study that I’ve ever taught in my life. They are so teachable; they’re so noble; they’re so learned,” Drollinger said.

It’s groundbreaking since he doesn’t think a formal Bible study among executive Cabinet members has been done in at least 100 years.

America’s top cop, Attorney General Jeff Sessions, also attends the study.

“He’ll (Jeff Sessions) go out the same day I teach him something and I’ll see him do it on camera and I just think, ‘Wow, these guys are faithful, available and teachable and they’re at Bible study every week they’re in town,'” Drollinger said.

President Trump is invited to attend the Bible studies, too. Each week he receives a copy of Drollinger’s teaching.

And Vice President Pence is also planning to join the study as his schedule permits. He also serves as a sponsor.

In Pence, Drollinger sees many similarities to biblical figures like Joseph, Mordecai and Daniel – all men who rose to the number two position in governments at different times in history.

“Mike Pence has respect for the office. He dresses right – like it says Joseph cleaned himself up before he went to stand before the Pharaoh,” Drollinger told CBN News.

“Mike Pence has uncompromising biblical tenacity and he has a loving tone about him that’s not just a noisy gong or a clanging cymbal,” he continued. “And then fourthly, he brings real value to the head of the nation.”

Like others, Drollinger often compares President Trump to biblical strongman Samson.

“I just praise God for them,” he said. “And I praise God for Mike Pence, who I think with Donald Trump chose great people to lead our nation.”

Trump’s A-Team

By now, it should be obvious that the Trump operation exists in two parts. One half is the operation’s face, Donald Trump. The other half is the operation behind the face. Mr. Trump’s persona has often made it difficult to take the entire Trump phenomenon seriously. That, we learned, is a mistake.

 .. This Trump transition operation is filled with specialists and veterans extending back to Ronald Reagan’s transition, such as Ed Meese. While New York conducts auditions for the cabinet’s speaking parts, the Washington policy shop is now recruiting the under-, deputy- and assistant secretaryships.
.. I would have preferred seeing House Financial Services Committee Chairman Jeb Hensarling get Treasury, on the assumption that his ability to get tax reform and the overhaul of Dodd-Frank through Congress would have all but guaranteed a revived economy and a successful first Trump term. Mr. Mnuchin will benefit from having Chairman Hensarling as a lodestar in the House.
.. If Mr. Trump’s foreign-policy goal is to “kill ISIS,” it would be hard to design a more effective partnership than Jim Mattis at Defense and David Petraeus at State.
.. These are men who will not argue for committing ground troops unless the U.S. is going to win and then secure the durability of its dear investment there.

President Trump’s Cabinet picks are likely to be easily confirmed. That’s because of Senate Democrats.

because exactly three years ago, the Democratic Senate majority — led by Harry Reid (Nev.) — rammed through controversial rules fundamentally changing the way the Senate does business. They unleashed in November 2013 what’s called the “nuclear option” allowing senators to approve by a simple majority all presidential appointments to the executive branch and the judiciary, with a big exception for Supreme Court justices.

.. Patrick Leahy (D-Vt.) had harsh words for his colleague.

“Senator Sessions and I have had significant disagreements over the years, particularly on civil rights, voting rights, immigration and criminal justice issues.  But unlike Republicans’ practice of unprecedented obstruction of President Obama’s nominees, I believe nominees deserve a full and fair process before the Senate,” Leahy said

.. “Congressman Mike Pompeo, a leading cheerleader of the Benghazi witch hunt, is now being asked to fill one of the most serious and sober national security positions there is,” House Minority Leader Nancy Pelosi (D-Calif.) said in a statement Friday.

Meet Trump’s Cabinet-in-waiting

He’s expected to reward the band of surrogates who stood by him.

.. President-elect Donald Trump does not have the traditional cadre of Washington insiders and donors to build out his Cabinet, but his transition team has spent the past several months quietly building a short list of industry titans and conservative activists who could comprise one of the more eclectic and controversial presidential cabinets in modern history.

Trumpworld has started with a mandate to hire from the private sector whenever possible. That’s why the Trump campaign is seriously considering Forrest Lucas, the 74-year-old co-founder of oil products company Lucas Oil, as a top contender for Interior secretary, or donor and Goldman Sachs veteran Steven Mnuchin as Treasury secretary.