by Pam Martens and Russ Martens
Wall Street on Parade
Jay Clayton is the man who served for almost all of the four years of the Trump administration as Chairman of the Securities and Exchange Commission; who attempted a failed coup to take over as the top criminal prosecutor in Manhattan; and who had represented 8 out of 10 of the mega Wall Street banks in the three years prior to arriving at the SEC. Clayton came to the SEC as a law partner at Sullivan & Cromwell where he had worked for more than two decades. Sullivan & Cromwell is a law firm that has been serving Wall Street’s interests since the birth of Wall Street.
Below we describe the condition in which Clayton has left what used to be considered the most respected markets in the world.
Bitcoin: Bitcoin is a cryptocurrency backed by nothing more substantial than air. In early July 2019, economist Nouriel Roubini sized up Bitcoin as follows on Bloomberg News: