Demand for Trump's Social Security chief to resign after $30 billion implosion

[Yo_Mama_Been_Loggin]

The new CEO of the financial services technology company Fiserv said Wednesday that the firm’s financial outlook was grim, sending its stock collapsing by more than 40% and erasing $30 billion in market value—and laid the blame squarely with a Trump administration appointee whom the president has praised as “amazing.”

When nominating former Fiserv CEO Frank Bisignano as Social Security administrator earlier this year, President Donald Trump said the executive frequently “takes troubled entities and turns them around.”With current Fiserv chief Mike Lyons warning on Wednesday that Bisignano had made major missteps as CEO, overinflating its sales projections and relying on short-term cost-cutting before selling his stock for $500 million, the advocacy group Social Security Works said beneficiaries of the government’s anti-poverty program for senior citizens should be alarmed that the former executive is now in charge of their crucial benefits.

“Fiserv lost 40% of its value because the former CEO, Frank Bisignano, is a liar,” said SSW. “But Bisignano is Trump’s buddy, so he can only fail up. He’s now in charge of your Social Security.”

Lyons told analysts and investors that when Bisignano was leading Fiserv from 2020 until earlier this year, the company made sales projections that “would have been objectively difficult to achieve even with the right investment and strong execution.”

https://www.msn.com/en-us/money/companies/demand-for-trump-s-social-security-chief-to-resign-after-30-billion-implosion/ar-AA1PIG58

[Cheezoholic]

1. Imagine that. A crook appoints crooks n/t

[BlueWaveNeverEnd]

2. He sold his stock days before company cratered. Trump admires that type of fraud

A finance chief joined the Trump administration. Then his company unravelled


https://www.ft.com/content/7afcce7c-b7b8-44e2-888b-90a3e42b6499

[AZJonnie]

3. "Current CEO Lyons to be investigated by Department of Justice for role in Fiserv $30B collapse, Bondi announces"

A headline coming soon to your neighborhood.

Bank on it

[Fiendish Thingy]

4. I predict a presidential pardon in Frankie's future. Nt

[Bozvotros]

5. Is anyone surprised by this?

His entire cabinet is full of cons, cretins, corporate criminals,, crooks, creeps and pedophiles. Kind off like the old Soviet Union CCCP but with more C's in it. CCCCCCP.

[NBachers]

6. He can just funnel $30 billion outta Social Security and into Fiserv & make everything hunky-dory again. Everybody wins!

[IbogaProject]

13. Paper value loss

That wasn't necessarially an actual amount of money lost. I am sure some later investors got ripped off but when they say 30 billion "value" wiped out they are reffering to a reduction in the total "value" of outstanding shares.

[rubbersole]

7. Lather, rinse, repeat.

It's nothing but theft from the Treasury. Just getting started.

[progressoid]

8. "But Bisignano is Trump's buddy, so he can only fail up."

Just like all of his staff.

[LudwigPastorius]

9. Just another one of Trump's...

rustlers, cutthroats, murderers, mugs, pugs, thugs, nitwits, halfwits, dimwits, vipers, snipers, con men, muggers, buggerers, bushwhackers, hornswogglers, and horse thieves.

[calimary]

10. Can't help but wonder how much went straight into his pocket.

[dlk]

11. Someone had a gain, somewhere

This smells funny.

[slightlv]

12. I think most of us here realize that one of the main reasons

trump wanted to be president was to bankrupt the United States for Putin, with his reward being all the money he "lost" would end up in his pocket... probably laundered through the crypto market. Until NO ONE in this country has food, a living wage, or health care, trump will continue doing putin's bidding of killing us as a first world country. To some (including me) we are already at 3rd world status... but others MMV on that point. I just believe he's not leaving until he has ALL our money.