Friday, December 9, 2016

What did Donald Trump do Today?

He offered a fourth Goldman Sachs executive a position in his administration.

Gary Cohn, the president and chief operating officer of Goldman Sachs, would become the director of the National Economic council. He would join other Goldman alums Steve Bannon (Trump's senior advisor), Steven Mnuchin (Treasury Secretary), and Anthony Scaramucci (transition team executive).

Trump tapped into populist outrage against the gigantic investment bank during the campaign, claiming that opponents like Ted Cruz and Hillary Clinton were its "puppets."

Because of their role in causing the housing collapse of 2008, and then profiting from the bailout, few companies are as powerful or as widely reviled as Goldman Sachs. On the campaign trail, Trump and Bernie Sanders were singing the same tune about its corrupting influence and the harm it had done to ordinary Americans.

Why should anyone care?

  • Voters may have believed Donald Trump when he said he was opposed to Goldman Sachs influencing government.