How a confidential meeting benefited a handful of Wall Street traders

Posted on Oct 16, 2020 at 12:07 PMUpdated Oct 16, 2020 3:11 PM

On February 24 at the start of the Covid-19 crisis, the Hoover Institution, a think tank close to Republicans, organized a small committee meeting. The two speakers, Larry Kudlow and Tomas Philipson, two advisers to Donald Trump, gave their audience a rather bleak picture of the coming health crisis and the risks weighing on the American economy, according to the “New York Times”. This great prudence contrasted with the confidence of the American president, who declared on the same day that “Everything was totally under control” before declaring a state of emergency on March 13. A few days later, Wall Street began its plunge on March 4. The day after the private meeting, Larry Kudlow declared on the channel “CNBC” that the coronavirus was not going to cause “Economic tragedy” in the USA. “We have the situation in hand”.

Short sale

Leave a Reply

Your email address will not be published. Required fields are marked *