Trump Names Former Goldman Sachs Exec and Major Political Moneyman for Treasury Secretary
Donald Trump's presidential campaign was littered with over-the-top promises. By September, he vowed to fulfill voters' "every dream" for their country should he become president.
But perhaps Trump's most memorable plan in his campaign's final weeks was to "drain the swamp."
"It is time to drain the swamp in Washington, D.C. That is why I am proposing a package of ethics reforms to make our government honest once again," Trump announced in an October 18 press release.
In addition to imposing congressional term limits, Trump also pledged to put an end to government corruption, particularly by foreign interests and Wall Street. Trump blasted Hillary Clinton's Goldman Sachs speeches and then followed up the announcement with a campaign ad warning voters of the "corrupt political establishment."
“Our movement is about replacing a failed and corrupt political establishment with a new government controlled by you, the American people,” Trump narrated in his final campaign ad.
The two-minute ad sparked controversy for its anti-Semitic dog whistles. In addition to George Soros and Federal Reserve chair Janet Yellen, those criticized in the ad included Goldman Sachs CEO Lloyd Blankfein. As the clip of the CEO played, Trump narrated a line about how the "global elite" have robbed the working class, "stripped our country of its wealth and put that money into the pockets of a handful of large corporations and political entities."
"The only thing that can stop this corrupt machine is you," Trump told viewers.
So why did the president-elect pick former Goldman Sachs banker Steven Mnuchin to lead his Treasury Department?
"I understand what needs to be done to fix the economy," said Mnuchin, now a chief executive at a privately owned hedge fund.
Mnuchin is also a top donor to both Republican and Democratic candidates, including Hillary Clinton and Barack Obama. He was directly involved in the 2008 housing market crash, which NPR noted "could complicate his confirmation."