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Welcome to the Circus: Rosenstein Threatens to Quit, Markets Plunge, Snapchat Defended at Goldman

***UPDATE: The DOJ is denying Rosenstein threatened to quit. This might be a case of fake news by Washpo.

Pardon the lack of interactive content in today’s blogs. I’m working from a hotel lobby on my dated iPhone.

Some of today’s important developments include a Washpo report suggesting the Deputy AG Rod Rosenstein threatens to quit over the Comey firing. Apparently, he took exception to the fact that he was being painted as the villain in all this. Truth be told, the White House should’ve just said we fired Comey for a fuuckload of reason, one of which was Rosenstein’s hatred and acrimonious seething anger towards Comey.

What the fuck did Jim ever do to Rod?

I believe this uncertainty is causing markets to sell off. This is a distraction that could derail some of Trump’s economic reforms.

The Nasdaq is feeling it most, off by 50+.

I think sentiment is getting hammered due to the collapse in SNAP too, this year’s tech darling. Amusingly, the lead underwriter of the deal, Goldman Ballsachs, is out defending them.

“While SNAP remains a near venture stage investment with all of the risks that implies, we continue to believe its audience and engagement represent a unique asset that will benefit from growth and diversification of internet usage and advertiser adoption as both mature,” Goldman analyst Heath Terry wrote in a note to clients Thursday.

Terry reiterated his $27 price target for Snap, representing 45 percent upside from Thursday’s price.

The clown show continues. Interesting times.

Top pick: 100% cash

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12 comments

  1. shr1

    Bid nq/snap

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  2. roundwego

    Vix train getting started. When China printing press stops markets gets scared.

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  3. derp

    Fuck it all. I’m sticking with motley fool for now.

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  4. bushwacker2

    For the love of God, the Democraps need to stop freaking out about everything the Donald and his cohorts say and do. Their party lost, partly because they hate Russians, so sorry. They’d rather throw feces at Trump (which means they don’t mind soiling their hands with crap) than do something constructive and positive. Shut up and MAGA.

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    • derp

      That’s the brain dead position of most Americans. Buy the dichotomy. Someone has to be the good guy or the bad guy. Trump shattered the paradigm, DC hasn’t figured it out yet (as usual).

      From here on out only celebrities will be President. Book it. Duh-Wayne Johnson is already being prepped by the MSM.

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  5. slowmo

    The Washington Post also claimed Comey had asked for more money to expand the “Russia investigation.” The Acting FBI Director McCabe was asked that today and said that the investigation was adequately resourced and it would be unusual for an additional funding request.

    Yet more “fake news” from the opposition party known as the Washington Post.

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    • frog

      The Washington Post has 1000X more truth in it than there is in what Trump and his staff say. Trump and his staff lie constantly. So of course, if Wa Post prints the truth, Trump and his staff just deny it, if the truth doesn’t reflect well on Trump.

      Comey basically got fired for not making Trump look good enough. Amazing since Comey is the one who handed the election to Trump, with his exposure of Hillary’s investigation but not Trump’s, right before the election. But even with that, Comey wasn’t slavish enough, didn’t break enough laws or FBI procedural rules, to exonerate and praise and help Trump to the extent Trump wanted.

      Trump and all the people now working for him define truth as “whatever makes Trump look good.” If something doesn’t make him look good, they deny it.

      Slomo is a good name for a person so mentally retarded that they are still supporting Trump now, after all the disasters he has caused, and after he keeps helping his crony capitalist welfare queen corporation buddies to gorge themselves at the public trough and destroy the middle class. Someone has to be VERY slow to support a president who does that.

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  6. traderconfessions
    traderconfessions

    Give me a fuckin scorecard to record trump’s Comey lies. It’s always the coverup.

    Scenario is simple.. if Trump is innocent then what’s his downside of a Special Prosecutor.. gets Congress off his ass and clears him. Worst thing is that a couple flunkies get nailed for a few minor violations, except for Flynn who will get prosecuted for lying to federal officials. If nothing else it pushes the ball down the court for months and he doesn’t appear like he’s perpetuating a coverup.

    Clearly something is bubbling underneath that has him scared shitless.Trump is an idiot for trashing Comey. Guess he didn’t learn from his missteps with the CIA. Get the feeling he wants out of the job?

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    • frog

      Trump seems to get more mentally retarded every day. As a narcissistic person, he wants to make himself look good. And this definitely does not make him look good.
      He’s too retarded even to make himself look good– his prime aim in life.

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      • bushwacker2

        We all posture and want to look good in the eyes of others. Even little humble frog. So cut Trump some slack, and try to appreciate that at least he’s got the balls to take on the job of President, when he knows half the country hates him and would rather see him humiliated, maimed, or worse. He might lack a lot of things, but courage is not one of them.

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  7. zeena

    OMG Goldman Ballsachs!!!
    You make roar!!
    For that reason alone I will continue to be entertained by your insightful take on things 🙂

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