Donald Trump hosted a private dinner at the White House for top Wall Street executives on Wednesday. Guests reportedly included Jamie Dimon, CEO of JPMorgan Chase, Stephen Schwarzman, CEO of Blackstone, and Marc Rowan, CEO of Apollo Global Management.
The president’s meeting comes as his Treasury Department and Internal Revenue Service continue to dish out hundreds of billions of dollars in tax relief to some of the country’s biggest companies, while cutting programs for lower-income Americans, like the IRS’ free online system for filing tax returns.
Wednesday’s private dinner prompted MSNBC host Stephanie Ruhle to call out the administration over its lopsided economic priorities on “The 11th Hour,” accusing officials of “making big moves to help big business, and at the same time, they are pulling back on some key things that help everyday Americans.”
In addition to cutting the free tax-filing program, Ruhle pointed out other recent moves from the administration that could hurt lower-income Americans while big companies benefit, including Trump’s proposal for a 50-year mortgage and a plan to eliminate the Consumer Financial Protection Bureau.
Ruhle said the 50-year loans would be a “very big win for banks by potentially doubling interest payments over a very, very long loan.” She also condemned the administration for looking to cut “the one agency that is entirely dedicated to protecting consumers from financial fraud.”
“This is all happening while life for everyday Americans gets more expensive,” she added. “You do not need me to argue that inflation is at 3%. You know what your cost of living is. My question is: Does the president?” When it comes to the economy, Ruhle said Americans won’t fall for Trump’s political spin. “You can BS the American people about what’s happening at the border,” she said. “You can BS the American people about Ukraine or Venezuela or any of those things, but you can’t BS farmers on trade, like you can’t lie to my mother on the price of London broil. She knows it.” You can watch Ruhle’s full analysis in the clip at the top of the page.
Allison Detzel is an editor/producer for MS NOW.
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