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  • Steven Mnuchin ---> Secretary of the Treasury

    Steven Mnuchin, a hedge fund manager and former Goldman Sachs executive, is President-elect Donald Trump's choice for Treasury secretary, a source close to Trump's transition team told USA TODAY Tuesday.

    The official announcement of Mnuchin's election could come as earlier as Wednesday, said the transition source, who spoke on condition of anonymity because officials were not authorized to speak publicly about selections.

    [...]

    Mnuchin, 53, was Trump's national campaign finance chairman and had been mentioned as a possible pick for Treasury during the general election campaign against Democrat Hillary Clinton. Mnuchin's selection was first reported by the New York Times.

    A graduate of Yale University, Mnuchin worked for 17 years at Goldman Sachs, the powerful Wall Street investment bank targeted by Trump during the campaign. He left in 2002 to start Dune Capital Management, a hedge fund. He has also invested in the entertainment industry and housing.

    At Treasury, Mnuchin would oversee Trump's economic policies, including proposed tax cuts, a giant infrastructure spending plan and sanctions against nations around the world, including Cuba and Iran, which Trump has targeted for criticism in recent days.

    Mnuchin has no government experience. He would be the third Treasury secretary from Goldman Sachs. Robert Rubin was President Bill Clinton's Treasury secretary, while Henry Paulson ran the department for President George W. Bush.

    [...]

    http://www.usatoday.com/story/news/p...sury/94629098/

    Watts Up With That? | The world's most viewed site on global warming and climate change.

  • #2
    Goldman-Sachs. He just let the swamp back in...

    Comment


    • #3
      Trump Treasury pick promises biggest tax overhaul since Reagan

      [...]

      "I think the United States is the greatest country in the world to invest in," he said.

      He also promised corporate tax cuts to "bring huge amounts of jobs back to the United States."

      For individuals, he said any reductions in upper-income taxes would be "offset by less deductions that pay for it." He also said that a "big middle income tax cut" would be another part of the reform plan, adding that "taxes are way too complicated" and that people spend "way too much time worrying about ways to get them lower."

      [...]

      http://money.cnn.com/2016/11/30/news...oss/index.html

      Watts Up With That? | The world's most viewed site on global warming and climate change.

      Comment


      • #4
        Originally posted by Skoblin View Post
        Goldman-Sachs. He just let the swamp back in...
        Goldman-Sachs has been a mixed bag...

        Robert Rubin was a very good Treasury Secretary, one of few bright spots in the Clinton Administration...

        Hank Pauslon didn't want the job, acted like he didn't want it and backed TARP...
        Watts Up With That? | The world's most viewed site on global warming and climate change.

        Comment


        • #5
          Goldman-Sachs. Hedge fund after that. Hollywood producer and money backer.... yup the swamp is going no where.

          Same people that PE Trump complained about on the campaign trail are flowing in.

          We've go what, 1 or 2 outsiders? The most common denominator right now is what House of Rep member?
          “The time has come,” the Walrus said,
          “To talk of many things:
          Of shoes—and ships—and sealing-wax—
          Of cabbages—and kings—
          And why the sea is boiling hot—
          And whether pigs have wings.”
          ― Lewis Carroll

          Comment


          • #6
            Originally posted by The Doctor View Post
            Goldman-Sachs has been a mixed bag...
            It's a mixed bag of swamp

            Comment


            • #7
              Originally posted by Combat Engineer View Post
              Goldman-Sachs. Hedge fund after that. Hollywood producer and money backer.... yup the swamp is going no where.

              Same people that PE Trump complained about on the campaign trail are flowing in.

              We've go what, 1 or 2 outsiders? The most common denominator right now is what House of Rep member?
              Originally posted by Skoblin View Post
              It's a mixed bag of swamp
              His "swamp" promise was to ban his administration officials from becoming lobbyists for five years after leaving his administration and a permanent ban on former Trump officials becoming lobbyists for foreign entities.

              Draining the swamp did not prohibit people who understand finance from becoming Treasury Secretary.
              Watts Up With That? | The world's most viewed site on global warming and climate change.

              Comment


              • #8
                Originally posted by Skoblin View Post
                It's a mixed bag of swamp
                Hard to find a qualified SoT candidate who didn't work on Wall Street.
                Any man can hold his place when the bands play and women throw flowers; it is when the enemy presses close and metal shears through the ranks that one can acertain which are soldiers, and which are not.

                Comment


                • #9
                  Originally posted by The Doctor View Post
                  Draining the swamp did not prohibit people who understand finance from becoming Treasury Secretary.
                  It does make it problematic however when you hire a person who has worked for years with the one financial house whom the public regards as more connected with status quo, Wall Street corruption and influence peddling than probably any other..

                  Comment


                  • #10
                    Originally posted by The Doctor View Post
                    His "swamp" promise was to ban his administration officials from becoming lobbyists for five years after leaving his administration and a permanent ban on former Trump officials becoming lobbyists for foreign entities.

                    Draining the swamp did not prohibit people who understand finance from becoming Treasury Secretary.
                    Nope. He promised to get rid of the insiders and eliminate the influence from wall street etc. This is not doing that. They are almost all insiders.
                    “The time has come,” the Walrus said,
                    “To talk of many things:
                    Of shoes—and ships—and sealing-wax—
                    Of cabbages—and kings—
                    And why the sea is boiling hot—
                    And whether pigs have wings.”
                    ― Lewis Carroll

                    Comment


                    • #11
                      Originally posted by Combat Engineer View Post
                      Nope. He promised to get rid of the insiders and eliminate the influence from wall street etc. This is not doing that. They are almost all insiders.
                      Yes. Public perception is important. Hiring someone from arguably the largest and most influential Wall Street firm doesn't look kosher if you were campaigning against Wall Street influence.

                      Comment


                      • #12
                        Originally posted by Combat Engineer View Post
                        Nope. He promised to get rid of the insiders and eliminate the influence from wall street etc. This is not doing that. They are almost all insiders.

                        Trump never promised to not recruit people who understand their subject matter (insiders) and he never promised to not recruit people from the business world (Wall Street).

                        Trump promised to stamp out crony capitalism ("drain the swamp")...
                        John Stossel: President-elect Trump, I wish you lotsa luck draining the "swamp"

                        By John Stossel Published November 30, 2016

                        President-elect Trump says he's uniquely qualified to "drain the swamp" in Washington, D.C. He can do it, he said at one debate, because as a businessman, he understands American cronyism. "With Hillary Clinton, I said, 'Be at my wedding,' and she came to my wedding. You know why? She had no choice because I gave."

                        He said that's why he gives money to politicians from both parties. "When they call, I give. And when I need something from them two years later, three years later, I call them. They are there for me!"

                        That's crony capitalism. Ideally, laws are applied equally; no one gets a special break because he gives money. But today's complex government allows the politically connected to corrupt ... most everything.

                        [...]

                        Politicians routinely promise to change this culture, but once they get to D.C., they lose interest, says Trump.

                        "They go to Washington, something happens -- they become weak. ... I promise this is not going to happen to me."

                        I want to believe him. But even if he were an utterly principled man -- and I await evidence of that -- it's tough to constantly say "no" to people.

                        [...]

                        I want to believe Trump when he says he'll "drain the swamp." But it's easier to believe Thomas Jefferson who, with greater eloquence, said, "It's the natural progress of things for government to gain ground, and liberty to yield."

                        Draining the swamp would mean not just taking freebies away from corporations -- or needy citizens -- but eliminating complex handouts like ObamaCare.

                        [...]

                        Every word in the register of federal regulations and laws has a special friend, a lobbyist (or 20) who will defend it, fight hard to make sure everything stays the same.

                        Good luck draining that swamp, President Trump. I hope you'll succeed, if that's really your goal.

                        But I won't count on it.


                        John Stossel is the author of "No They Can't! Why Government Fails -- But Individuals Succeed" and host of "Stossel" (Fridays at 9 PM/ET), a weekly program highlighting current consumer issues with a libertarian viewpoint. Stossel also appears regularly on Fox News Channel (FNC) providing signature analysis. Click here for more information on John Stossel.

                        http://www.foxnews.com/opinion/2016/...ing-swamp.html

                        You can't "drain the swamp" without people who understand the complex relationships between business and government. It takes the same skill set to drain the swamp as it took to fill it.

                        The selection of Steven Mnuchin as Treasury Secretary, in no way, goes against his promise to stamp out crony capitalism. The fact that Mnuchin probably understands crony capitalism better than Trump does, will actually facilitate draining the swamp.

                        Another part of draining the swamp is shut down the revolving door between government and K Street...
                        Washington (CNN)Two top Republicans working with President-elect Donald Trump's transition team told reporters in a phone call Wednesday evening that they're taking steps toward one of Trump's campaign promises -- to "drain the swamp" in Washington.

                        Trump communications director Jason Miller and Republican National Committee spokesman Sean Spicer announced anyone being vetted for a high post in the administration must provide a termination of lobbying form if they are a registered lobbyist.

                        In addition, when officials leave the government, they will be banned from being a lobbyist for five years as part of the agreement to serve in Trump's administration. The ban will apply lifetime to representing foreign governments, he added Thursday.

                        "Not only will people not be able to (be) registered state or federal lobbyists, but when they leave government, they will be banned from being a registered lobbyist for five years," Spicer said Wednesday.

                        "Why that is crucial is that it goes back to Mr. Trump's goal of making sure that people aren't using the government to enrich themselves and using their service in government to do that," he added.

                        [...]

                        http://www.cnn.com/2016/11/16/politi...mp-transition/

                        Can Trump stamp out crony capitalism? Probably not. There is too much of it, embedded too deeply in the system. Can he put a dent in it? Yes, if he is serious about trying.

                        Can he close the revolving door? Yes, but only for the duration of his administration.
                        Watts Up With That? | The world's most viewed site on global warming and climate change.

                        Comment


                        • #13
                          So about draining that swamp?

                          Once again, the Trumpkins get conned. His whole cabinet is made up of yes men and Wall Street hacks. He put the swamp creatures on his payroll!

                          Comment


                          • #14
                            Originally posted by Skoblin View Post
                            Yes. Public perception is important. Hiring someone from arguably the largest and most influential Wall Street firm doesn't look kosher if you were campaigning against Wall Street influence.
                            Who would understand how that influence works better than someone "from arguably the largest and most influential Wall Street firm"?
                            Watts Up With That? | The world's most viewed site on global warming and climate change.

                            Comment


                            • #15
                              I love the sound of snowflakes whining.

                              It sounds like...victory.
                              Any man can hold his place when the bands play and women throw flowers; it is when the enemy presses close and metal shears through the ranks that one can acertain which are soldiers, and which are not.

                              Comment

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