TRUMP WATCH: 'Mexican' judge goes soft on fraud case

During the campaign, Donald Trump attacked Gonzalo Curiel, the Indiana judge presiding over the Trump University fraud case, saying his Mexican heritage (Curiel's grandparents, like Trump's grandfather, were immigrants) represented a "conflict of interest" — presumably on the assumption the judge would take personal offence at the Republican nominee's comments about Mexicans and/or his immigration, mass deportation and border policies.

But it turns out the president-elect's fears were misplaced. It turns out Curiel is a teddy bear (though NBR wonders if his reaction would have been different if Mr Trump was defeated on November 8).

Today, Reuters reports the judge told both sides they would be wise to settle the case before its trial (due to begin November 28) "given all else that's involved."

Trump University, which was 98% by the president-elect, has now shut down. A class action suit filed by former students claims its courses, costing up to $US35,000, were misrepresented. Mr Trump faces two lawsuits over the failed tertiary venture. The other has been brought in New York.

Private funding for $US1 trillion infrastructure push
Donald Trump's plan to spend $US1 trillion upgrading infrastructure will revolve entirely on private financing, according to a Wall Street Journal report that quotes a briefing paper by Trump advisor Prof Peter Navarro (and which is separate to a detail-free proposal to spend $US550 billion on infrastructure that's gone up on Trump's own site.

The president-elect’s infrastructure plan largely boils down to a tax break in the hopes of luring capital to projects, the Journal says. He wants investors to put money into projects in exchange for tax credits totaling 82% of the equity amount. 

Experts are quoted who says the plan tax-break plan could lure capital to projects like toll-roads, but won't find adequate backing for patching or maintaining existing infrastructure – where private players would find it much harder to turn a profit.

Wall Street up, again
Regardless, Wall Street has given the nod to Trump's stimulus spending (as well as his promises to reduce corporate tax and regulation). For the third day in a row since he won the election, the Dow rose.

Formal death of the TPP
In a widely expected move, the Obama administration today suspended its effort to ratify the Trans-Pacific Partnership during the "lame-duck" session of Congress between now and when the president leaves office on January 20. The announcement came after Republican leaders in Congress, who earlier in the year got behind legislation to speed TPP ratification, withdrew support.

The trade deal requires ratification by countries representing 80% of the GDP of original signatories to come into force. In practical terms, that means no US ratification, no TPP.

Some pundits think Trump will moderate his protectionist views now in office and reanimate some kind of trade deal – but the president-elect will also have one eye on the rust-belt supporters who won him the White House, and whom he could well be relying on again in 2020.

Obamacare could be tweaked rather than scrapped
Trump now says he is now considering keeping parts of the Affordable Healthcare Act (aka "Obamacare"). 

During the campaign, the Republican called the legislation, which subsidises private health insurance, "a disaster" and promised to repeal it.

But even if he does ultimately take that path, Orion Health boss Ian McCrae points out that would not be easy. Sixty votes are required in the 100-member Senate to overturn existing legislation, but the Republican majority was reduced to 51 on November 8 (it may rise to 52 once final votes are counted).

Trump vs Trump on Twitter
The president-elect's Twitter account first attacked protesters:

Just had a very open and successful presidential election. Now professional protesters, incited by the media, are protesting. Very unfair!

— Donald J. Trump (@realDonaldTrump) November 11, 2016

Then a few hours later, it offered a more PR-smoothie response:

Love the fact that the small groups of protesters last night have passion for our great country. We will all come together and be proud!

— Donald J. Trump (@realDonaldTrump) November 11, 2016

No prizes for guessing which one was posted by The Donald himself.

Transition team cronyism shocker
Irony-free zone department: Mr Trump is going to "drain the swamp" in Washington and replace incumbents with ... cronies. The main qualification for being on his transition team seems to be early endorsement or being a member of the president-elect's own family.

And while it's yet to be named, there's speculation that Trump's first cabinet will include former Speaker Newt Gingrich, Rudy Giuliani (attorney-general), Alabama senator Jeff Session (defence) and Goldman Sachs veteran Steven Mnuchin (Treasury). Outsiders they're not.