Trump Picks Goldman President Gary Cohn To Be Chief Economic Advisor
It appears that vampire squids are quite adaptable to living inside the swamp that Trump promised to be draining.
Following the appointment of former Goldman partner Mnuchin as Treasury Secretary, NBC News reports that Goldman Sachs President and COO Gary Cohn has been selected as National Economic Council Director.
onald Trump has offered Goldman Sachs executive Gary Cohn a key economic post, which would add to the administration another veteran of the powerful firm he bashed during his campaign, sources close to Cohn told NBC News.
As NBC adds, Cohn, Goldman’s president and chief operating officer, has been offered the directorship of the National Economic Council and assistant to the president for economic policy, the sources said. It is unclear if Cohn will accept the post, but he reportedly had discussions late last month about leaving Goldman.
Trump’s Treasury secretary pick Steven Mnuchin and senior advisor Steve Bannon also worked at Goldman Sachs, which Trump repeatedly attacked on the campaign trail. As a reminder, Trump cited Goldman as evidence that corporate and financial interests have influence over politicians and criticized former opponent Ted Cruz for taking a loan from the firm.
Goldman Sachs President, COO Gary Cohn has confirmed President-elect Trump offered him post of National Economic Council Director and assistant to president for economic policy, NBC News said, citing sources.
* * *
As in the case of Hank Paulson, the question is whether this appointment enables Cohn to dump his massively overbought $210 million worth of Goldman stock tax-free? If so, Cohn just saved over $80 million on taxes just by becoming officially a part of the US administration, instead of merely running the country from the shadows.