December 14, 2016

Working-Class Hero Donald Trump Sure Has Been Good For Wall Street

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The election of blue-collar hero Donald Trump is already paying off:

A Dow 20000 milestone would have Goldman Sachs Group Inc. to thank….Shares of the Wall Street firm are up 31% since Election Day, rising to within striking distance of their all-time closing high of $247.92, which was hit in October 2007. That compares with a 8.6% rise in the Dow industrials.

And it’s not just Goldman Sachs. Bank of America has done even better, and the rest of America’s megabanks are doing pretty nicely too. It’s a wonderful time to be on Wall Street.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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