Trump Set to Appoint Third Goldman Executive

How’s the Cabinet and Key Positions Unfolding

cohnAnother Goldman Sachs is expected to be appointed by President-elect Trump to his cabinet. If confirmed, this would be his third Cabinet appointment to a Goldman Executive.

Trump has vilified the Wall Street Bank during his campaign and also said that Mrs. Clinton would be a Bank’s puppet if she won. Trump is tipped to pick Goldman President Gary Cohn to head the White House National Economic Council.

Trump has already chosen Steven Mnuchin – the incoming Treasury Secretary – and Steve Bannon, the new senior White House advisor.

In other development, reports are suggesting that there was a careful consideration of Exxon Mobil CEO Rex Tillerson for the important post of Secretary of State. Seasoned Republican politician, Mitt Romney and other names are also being considered for the key post.

“American Manufacturing Council” will be headed by the CEO of Dow Chemical Co., Andrew Liveris, who has been picked by Trump to bring industry back to the U.S.

Former New York Mayor, and a close advisor to Trump, Rudy Giuliani has opted himself out for contention in any post in the Trump’s cabinet. He was also named as a contender for the role of Secretary of State, but his foreign business dealings raised questions about his suitability and would have made him a controversial choice. The Trump transition team said earlier that Mr. Giuliani had informed Mr. Trump of his withdrawal in a meeting held on November 29.

Mr. Trump’s advisors say that Goldman’s dominance in Trump’s economic team is not incompatible with the campaign promise to put the interests of the Americans on Main Street ahead of the Wall Street.

During his campaign, President-elect Trump has accused the bank of belonging to a “global power structure” that is robbing the U.S. working class. He has also derided his rival, Ted Cruz by saying that the Goldman Sachs had “total control over him.”

But speaking to a news channel, Trump’s senior advisor, Kellyanne Conway reasoned that:-

You’re not going to find better people than those who have been at the top of finance, the top of our markets, understand the way our markets work.

A Senate confirmation would not be needed to affirm Mr. Cohn’s appointment to the White House post, which involves coordinating economic policy across the Trump administration.

The life story of Mr. Cohn is full of ups and downs. The 56-year-old from Ohio suffered from dyslexia as a child and once said to his parents that he might grow up to be a truck driver if they were really lucky.

Mr. Cohn’s is known for his abrasive manner and retains $190m worth of stock in Goldman, according to Reuters.

The incoming Treasury Secretary, Mr. Mnuchin would have to face a hearing before the senators, and he’s likely to be questioned about his Wall Street background.

Goldman Sachs has produced many Treasury Secretaries, top economic advisors, and White House chiefs of staff in the past.