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The Four Years of the Trump Administration Saw the Largest Number of IPOs with Negative Earnings in the Last 40 Years

Courtesy of Pam Martens

IPOs with Negative Earnings, 2017 through 2020

By Pam Martens and Russ Martens

SEC Chair Jay Clayton

Former SEC Chair Jay Clayton

Donald Trump was inaugurated as President on January 20, 2017. But 16 days before Trump even took office, he sent the message to Wall Street that “I’ve got your back.” On January 4, 2017, Trump nominated Jay Clayton to Chair the Securities and Exchange Commission, ostensibly the top watchdog on Wall Street.

But Clayton’s resume ensured that he would be doing a lot more recusing than watchdogging.  Clayton, a law partner at Sullivan & Cromwell, had represented 8 of the 10 largest Wall Street banks in the three years prior to his nomination.

Clayton did not disappoint. He looked the other way as the Wall Street banks traded their own bank’s stock in their own Dark Pools. He wore blinders as the Wall Street banks flagrantly violated the Dodd-Frank financial reform legislation’s Volcker Rule. He took no action to stop Wall Street from running its own private justice system (mandatory arbitration) that effectively locks the nation’s courthouse doors to Wall Street employees and customers. On May 5, 2020 Clayton’s SEC approved the application for some of the worst actors on Wall Street (such as Citadel, JPMorgan Chase, Citigroup, Goldman Sachs and others) to run their own stock exchange called “Members Exchange” or MEMX. We could go on and on but you get the picture.


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Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

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