August 19, 2017

Byron York and Stuart Varney complained that Trump's NEC Director Gary Cohn is being forcibly 'shamed' to resign from the administration over Trump's defense of the neo-Nazis in his Tuesday presser.

Let me set the stage. After Trump defended anti-Semites and their brethren in what is the single most horrific press conference in modern American politics, Glenn Thrush reported that Gary Cohn was "disgusted" and "upset and disgusted over Trump's remarks since he's Jewish.

Axios had reported: "Gary Cohn, the longtime #2 at Goldman Sachs, was standing next to Trump in anticipation of questions about infrastructure legislation. We're told Cohn was somewhere between appalled and furious."

And then MSNBC's Joe Scarborough asked "Why are you still there? You have sacrificed enough to this country, and you have a president who has provided aid and comfort to white supremacists and neo-Nazis."

Suddenly, it was revealed that Cohn is in reality "Super Market Man!"

Art Cashin, UBS director of floor operations at the New York Stock Exchange:

"I think [Cohn's] probably worth 200 [Dow] points only because if he goes, they'll assume others are going to go too," said Cashin

Yale University management expert Jeffrey Sonnenfeld said Thursdayon CNBC that Cohn is so key, his departure could "crash the markets."

"I don't want to be an alarmist, but there is a lot of faith that he is going to help carry through the tax reform that people are looking for," he said on "Squawk Box."

On Friday's edition of Varney & Co., Stuart opened up his program by telling investors that since Gary Cohn is the champion of tax reform, if he leaves the Trump administration the stock market will react very badly.

A guest told Varney, "To get tax cuts and deregulation, Gary Cohn is a champion of that - he needs to be in the administration and whatever Trump needs to do, he needs to keep him."

Varney said, "This market moves today on any word from Gary Cohn."

Varney then brought on Byron York to opine on the situation and asked "If this administration is falling apart?"

York admitted that the president is "having a pretty bad run of it." (And this was before the Bannon departure was reported)

York continued, "We do see a lot of outside people trying to shame or troll people like Gary Cohn into leaving the administration. 'How can you stay there, how can you work for such a man?'

But York opined that Trump has lost some Republican support, but since some of Trump's policies are the same as those bashing him, he asked if Sen. Corker, who lambasted the president, would vote for tax reform.

Varney then said Janet Yellin is also being asked not to accept if she's asked to stay on at the Fed. Varney said, "That is shaming in the extreme."

Well, Stuart. When Trump did and said what he has, there are a lot of people who actually have morals and have been repulsed to the extreme. If anyone should be ashamed, it's Trump and if anybody participated in extraordinary shaming, that would be Trump also.

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