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Ordinarily, maybe not so notable. But this argument was about when the U.S. economy might be able to re-open if and when the coronavirus pandemic eases, a question on everyone’s mind, not least President Donald Trump.
See: Trump team is weighing whether coronavirus-induced shutdown is doing more harm than good
CNBC reported Tuesday that leading Wall Street traders like Third Point’s Dan Loeb, Blackstone’s Stephen Schwarzman, Vista Equity’s Robert Smith, Intercontinental Exchange’s Jeffrey Sprecher and Paul Tudor Jones participated on the call that touched on the question of restarting the economy.
Shortly after the call, Trump said he wanted the re-open the economy by Easter.
Ben White of Politico, a guest on the CNBC program, said the idea of Wall Street executives telling Americans when to go back to work was off-putting.
“I can’t tell you how awful the politics are of the idea that President Trump is on the phone with these billionaire investors who are losing money in the stock market and want all the plebes and the blue-collar folks to go back to work,” White said.
“These are the richest Americans who can easily socially distance themselves, telling everyone else to put themselves at risk,” he added,
The CNBC host, Scott Wapner, defended the phone call, saying he was told by a source that the discussion was “about a thoughtful way to try to get the economy back at the appropriate time.”
But it doesn’t work to have a date certain, White replied.
“I don’t see any reason why the people who were on the call today shouldn’t have been on the call,” Wapner said. “To suggest they were making the pleas that you describe, I don’t think it’s fair.”
White said he might have misconstrued the report, but noted that there is a reason that hashtags like “#NotWillingToDieForWallStreet” are trending.
See: Texas Lt. Gov. Dan Patrick says grandparents are willing to die to save economy for their grandkids
Besides, Trump doesn’t have that authority, aside from some industries, and states don’t have to comply.
Marc Short, the chief of staff to Vice President Mike Pence, said later on CNBC that Trump might set out different coronavirus guidelines for different parts of the country.
