Goldman Sachs back on top in Trump admin
This is not what swamp-draining looks like.
Former Goldman Sachs partner Steven Mnuchin served as Trump’s national finance chairman and is now Trump’s nominee for U.S. Treasury secretary. Trump has also tapped Goldman Sachs President (and the bank’s de facto No. 2) Gary Cohn to be his top economic adviser in the White House. Other Goldman alums in Trump’s inner circle include Anthony Scaramucci, a former Goldman banker and a member of the Trump transition team’s executive committee, as well as Steve Bannon, Trump’s campaign manager.
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After eight years as the face of Wall Street greed and the target of public scorn, the bankers at Goldman Sachs can be cheerful again. Not only has Trump’s election stoked hopes for looser regulatory policies that will make it easier for banks to take bigger risks and book fatter profits, but Goldman also appears to have regained its place at the nexus between Wall Street and Washington.
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