Frugal billionaire, Ken Langone, who spent his life as a power player on Wall Street offered some real fiery advice to former President Barack Obama on Fox News’ “Your World with Neil Cavuto”. Langone is most known for organizing financing for the founders of The Home Depot said some pretty inflammatory things against former President Barack Obama in the interview.
Langone’s success story is an amazing one of luck mixed with extreme business talent that has earned him his estimated net worth of $3.4 billion as of February 2018 says Forbes. He had attracted publicity with his attempted purchase of the New York Stock Exchange. Even though the deal failed, it raised Langone’s stature on Wall Street and in the business community in general.
His relationship with Home Depot started in 1974, where he began studying the home improvement business. That led him to buy stock in a home improvement chain, Handy Dan. This inevitably led to a relationship with Handy Dan CEO Bernard Marcus and CFO Arthur Blank. Despite only being a minority shareholder, Langone effectively protected Marcus and Blank helping them found Home Depot to the point that many confuse Langone as one of the co-founders.
This massive advocate for capitalism is the go-to guy as a news analyst when it comes to all things business. So after Obama hit the ‘campaign trail’ to stir up controversy and anger against sitting President Donald Trump, Fox News Neil Cavuto invited Langone onto ‘Your World’ to ask the business mogul his thoughts about the former president’s terrible behavior.
Obama said this about the economy in his speech about a week ago:
“By the time I left office, household income was near its all-time high, and the uninsured rate hit an all-time low, poverty rates were falling, I mention this just so when you hear how great the economy is doing right now, let’s just remember when this recovery started.
When you hear about this economic miracle that’s been going on, when the job numbers come out, monthly job numbers, and suddenly Republicans are saying it’s a miracle, I have to kind of remind them, actually, those job numbers are the same as they were in 2015 and 2016.”
Langone smoothly responded that Obama should basically shut up. Here’s the entire transcript:
Cavuto: Why don’t you think that President Trump is getting more of the goodwill from this good economy, from these good markets. And now there’s been a battle back and forth between he and President Obama who takes the credit for this bull market, the longest in history, who does?
Langone: Forget about it. Obama ought to do what every other great President did, go ride off into the sunset. The mother of the groom should wear beige and keep your mouth shut.
What I’m saying is, like it not, Trump’s base is rock solid. Donald Trump needs 15% of the voters to get re-elected in 2020. That 35% and everybody knows it is rock solid. I would hope he would do things different than he does but damnit give the guy credit. The Koreans had that big parade they didn’t have one of those things… we couldn’t get a meeting with him I watched John Carey on television this morning say ‘we couldn’t get a meeting with them’ but Trump got a meeting with them. What came of it? We got 3 guys released.
Cavuto: You don’t think he’s treated fairly?
Langone: I’m not suggesting he’s not treated fairly, I don’t think he really cares about being treated fairly.
Cavuto: Did you, in your days… every action you would take in corporate, did you worry what the media was saying about you?
Langone: No, because I knew the truth… you know Neal, let’s understand something- We live in the greatest country on earth. The American people spoke loud and clear. The establishment is shocked that Donald Trump won. BUT he won, he won fair and square. This Muller investigation, c’mon let’s end it. Come out and say what you got. There’s a notion here, this guy should not be President of the United States. I beg your pardon? He won fair and square, he won 307 electoral votes. He IS our President. Respect the office of the Presidency!”
I’m glad we have guys like Langone telling America the truth about what’s happening in America. Obama won’t even see this interview, let alone take his advice but you and I can do our best to destroy Obama’s campaign to take down President Trump by reminding people that this Bull Economy is from a Trump administration, not Obama!