Following the resignation of former Goldman Sachs executive Gary Cohn as the Trump administration's Chief Economic Advisor, US President Donald Trump tweeted: 鈥淲ill be making a decision soon on the appointment of new Chief Economic Advisor. Many people wanting the job 鈥 will choose wisely!鈥
I am sure he's right on at least the first part of that tweet. There will undoubtedly be a conga line of other corporate bloodsuckers eager to take the job.
Karl Fitzgerald, 3CR鈥檚 Renegade Economist, spoke to independent investigative journalist Michael West (Michaelwest.com.au) about Transurban and its control of Australia鈥檚 toll roads.
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Let鈥檚 start with some numbers: traffic was up just 1.4% on Transurban toll roads over the past six months, but toll revenues were up 9.6% and the earnings before tax trickery by 11.6%. But its net profit was up a staggering 280% in just six months. What does that mean?
Investment bank Goldman Sachs is set to reap $16.5 million in NSW taxpayers' funds for a mere 11 months work as financial advisor to the state government on privatisation of the controversial $16.8 billion WestConnex tollway. The money will be paid for work between August this year and next July, in flogging off 51% of the Sydney Motor Corporation (SMC) which is building WestConnex.
The corporate vampires are circling as the sell-off process advances, with Transurban the favorite to buy WestConnex. Transurban already owns most of the toll roads in Sydney.
President-elect Donald Trump announced on November 30 that former Goldman Sachs partner Steven Mnuchin 鈥 a man聽聽as 鈥渢he anti-populist from Hell鈥 鈥 is his pick for treasury secretary.
