Kleptocracy

Trump Picks Billionaire Vulture Capitalist for Commerce

Written by SK Ashby

Despot-elect Donald Trump continued to pump raw sewage into the Washington swamp last night by selecting billionaire vulture capitalist Wilbur Ross to serve as the next secretary of commerce.

You may recognize Ross because he's been a Trump crony for decades and a prominent donor to Trump's campaign.

Ross, 79, is a donor and longtime associate of Trump's, having helped him resurrect his casino company after it went bankrupt in the early 1990s.

Over the years, Ross has grown rich by buying troubled companies in industries such as steel, textiles, auto parts and coal and restructuring them, often with significant layoffs and budget cuts. He is said by Forbes to be worth $2.9 billion, making him the country's 232nd richest person.

Ross did help Trump "resurrect" his casino business but, as you know, that was far from his only bankruptcy. Actually, it wasn't even his first.

Various news reports have labeled Ross as a "turnaround specialist," but that's really just spin on vulture capitalism the likes of which cost Mitt Romney in 2012.

Trump is assembling the wealthiest cabinet in history.