Posted on 12/09/2016 2:40:27 PM PST by Pinkbell
NEW YORK -- President-elect Donald Trump is expected to name a top Goldman Sachs executive, Gary Cohn, to lead the National Economic Council, handing the Wall Street veteran significant sway over his administration's economic policy.
The council includes the heads of various departments and agencies and works within the administration to coordinate economic policy. As director, Cohn would be in position to advise Trump as he attempts to fulfill some of his chief campaign promises, including lowering corporate taxes and rethinking U.S. trade policy.
Trump intends to formally name Cohn to the post, which does not require Senate confirmation, but additional details remained unclear, according to a transition official, who spoke on the condition of anonymity and was not authorized to speak publicly. The expected appointment was first reported by NBC News.
In Cohn, Trump would once again be picking a veteran of a New York investment bank that he repeatedly denounced during the campaign. During the campaign Trump argued that Goldman held “total control” over both Democrat Hillary Clinton and GOP rival Ted Cruz and he even released a television ad that flashed an image of Goldman Sachs Chief Executive Lloyd Blankfein and warned of a “global power structure” that was robbing American workers.
But Trump has relied on several Goldman alums for key positions, so far. Steven Mnuchin, a 17-year veteran of the bank, is nominated to be the next Treasury secretary, and Steve Bannon, Trump’s chief strategist, worked on mergers and acquisition deals for Goldman Sachs. Hedge fund manger Anthony Scaramucci began his career at the New York bank and has emerged as one of Trump’s closest advisers on his presidential transition.
(Excerpt) Read more at washingtonpost.com ...
In news inteviews, Cohn has struck a moderate tone on controversial issues such as corporate tax inversion and deregulation. At a conference sponsored by the New York Times last year, he argued for keeping U.S. businesses onshore by creating a “really competitive environment.” He also appeared to take a softer stance on Trump’s campaign promises to roll back the sweeping financial reforms known as the Dodd-Frank Act that were instituted under Obama and reinstate a Depression-era law that separated commercial and investment banking.
My thoughts are that this guy knows Trump's positions, and would presume that he has signed on to it. If he decides to try to moderate him to the left or takes the views of the establishment GOP, that would be the issue.
Do u think all these financial people that Trump is putting in are having to take a pay cut to work for gov’t? I would think so; and I wonder why they would do it.
They can’t work for those companies while serving in a position in the cabinet, so I would think there is a massive pay cut.
Maybe after they’ve made a ton of money, there are other things that motivate them. Maybe they are being patriotic.
that and they know how to WIN.
Wealthy, successful, smart, hard working . . .
Let’s see . . . why would we NOT want someone like that in a powerful position, working with our President?
Golden Slacks is one of the WORLDS pre-eminent banking groups. We want them on OUR side, helping AMERICA.
I’m dying for Dan Snyder to be named the Chief of the Bureau of Indian Affairs.
“Golden Slacks is one of the WORLDS pre-eminent banking groups. We want them on OUR side, helping AMERICA.”
Bankers manipulate money. They produce nothing. Goldman has never been on America’s side. They are purely globalists favoring globalism over Constitutional sovereignty and secure borders. It is more for themselves and less for America. We want the swamp drained not filled.
Paging Ted Cruz haters. Your order of Kentucky Fried Crow is ready.
I do believe you are somewhat mistaken. The Low information Freepers do not dislike Goldman Sachs financiers.
What these dummies disapprove of is anything associated with Senator Cruz and his principled stand.
I find most of The Donald's moves since the election extremely pleasing.
They certainly made a lot of noise about it.
This is impossible because ...
... never mind.
just a trifle overstated.
The business of America, is business. American business takes place all over the world. Americans will continue to trade all oover the world. Men that know how are helpful in the government
America is not going to be isolationist like you want
Being Low Information means you never have to say sorry for being Low Information.
I am enjoying lots of Schadenfreude
The business of America was once producing stuff made by Americans until the banksters turned us into a private managed casino of Wall St where money changing and financial services became the primary GDP, along with importing cheap labor and exporting our jobs. Wall St once generated capital for production. Now they play games and produce nothing but M&A deals and gains for insiders.
This is the swamp America wants drained, not filled. 62 million people have high hopes for real change by Trump and purging corruption. Knowing how the media always lies I’m maintaining hope and very cynical of what they say. We need to see real change in appointments and results.
drivel
the function of business is to make a profit. many here can’t grasp that simple concept
But wait wait we were told Goldman Sachs was evil; the center of all that was wrong with the housing bubble. We were told they were snakes everyday around here buuuut wait a min we got one with our guy (yes I voted for him) aaand now all of a sudden “nothing to see here move along nothing to see”
The hypocrisy is rank in these parts to the highest order.
I am laughing hysterically about right now. I’m wondering who will come right in out and say “well damn he appointed someone from Goldman”
The humor that has just been created one cannot make up
The criticism is Trump was critical of them during the campaign. Lou Dobbs was critical of this pick tonight which surprised me a bit because he is a big Trump cheerleader.
Must have kicked the power plugs on their ‘puters out when their knees jerked.
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