Tuesday, July 21, 2015

Donnie

At the Irish dominated bank that was the first banking job here, he was known as Donnie, and the first name of his main banker was Mikee.  They worked together well, and the company financed project after failed project, getting the big fees for the leveraged loans on the front end and the substantial bankruptcy fees on the back end. Donnie was always assumed to have connections with unions and worse, and to get a job done with Mikee, even if Mikee rarely had his a shirttail tucked in completely, and always spoke in profane language that was every other word.  His black secretary Shirley, who he called so many names that were not even printable in the 1960's, always said "that's just Mike".

That Donnie, involved here, is of course Donald Trump who is so well known now and Mikee, a guy who became the President of Equitable Insurance, after it was acquired by Axa.  His boss, Eddie, was a former Vice Chairman of the predecessor bank, and Eddie was a perfectly dressed banker, pocket handkerchief in place, Long Island based,  slicked back banker(no one ever knew if he had any hair) who knew talent when he saw it.  He hired Mikee, made him go to his tailor, had him tucking his shirt in and not cursing everyone in sight, and there he was, Trump's banker in the insurance money.

Why regulators don't look at the massive amount money invested from the insurance industry and just focus on the banks is not a mystery.  Everyday voters deal with banks, and they are an easy target. Most voters have no understanding of insurance.  For that matter, they have no information on most hedge funds.

Donnie can keep on with his shell game and Mikee is retired rich beyond his wildest dreams.  Now, Donnie thinks that he should be President.

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