After meeting with President-elect Donald Trump the billionaire Masayoshi Son said only that he would invest the large sum of money in the US and that he would commit to creating 50,000 new jobs.
Trump, of course, tweeted the news this afternoon...
Then, as if choreographed, the president-elect made a brief appearance with SoftBank CEO Masayoshi Son in the lobby of Trump Tower right after the tweets.
Here is that awkward little dance...
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Here is the problem with Trump's dog and pony show.... As usual it is a lie.
First of all lets look at the obvious problems with this steaming pile of bullshit. The absolute lack of details about the investment timetable lends doubt as to whether the promise of money and jobs will be met. The company, SoftBank, has yet to give any details on any part of the "deal".
Then there is the fact that the investment would come from the $100 billion investment fund the head of Softbank has set up with Saudi Arabia’s sovereign-wealth fund and other potential partners... Can we say conflict of interest!?!?! Who knows, because Trump won't release his taxes or any specifics of the "deal"!
And finally there is the fact that this investment from SoftBank, the Saudis and "other potential partners" was announced in October... prior to the election! SoftBank said Saudi Arabia's Public Investment Fund (PIF) would be the lead partner in the fund and could invest up to $45 billion over the next five years of which SoftBank expects to pony up at least $25 billion.
But who cares right. Trump looks like he did something and the shares in SoftBank rose 3.8 percent early on Wednesday in Tokyo after jumping as much as 5.1 percent to their highest since August last year.
Now we just have to bury our heads so we never find out if there was any unconstitutional quid pro quo.