Goldman Sachs alums in Trumpworld: And then there was one

One by one, almost all the high-profile Goldman Sachs alums have left the White House.Gary Cohn, the former Go...

Posted: Mar 7, 2018 11:21 AM
Updated: Mar 7, 2018 11:21 AM

One by one, almost all the high-profile Goldman Sachs alums have left the White House.

Gary Cohn, the former Goldman Sachs COO who left the bank to become President Trump's National Economic Council director, resigned Tuesday night following a dispute over the president's planned tariffs on aluminum and steel imports.

Cohn's farewell follows the departures of chief White House strategist Steve Bannon, communications director (for a whopping ten days) Anthony Scaramucci and deputy national security adviser Dina Powell. They all exited in just the past few months.

All of them worked for Goldman Sachs at one point during their careers -- and Powell actually returned to Goldman Sachs last month.

That means that the only high-profile Goldman Sachs veteran left in Trump's inner circle is Treasury Secretary Steven Mnuchin.

Stocks fell Wednesday as investors worried that Cohn's exit was clear sign that Trump was moving to a more protectionist stance, even if it risked starting a trade war.

Related: Cohn's exit stokes fears that Trump will fight a trade war

Trump's Goldman-filled White House was surprising, since he attacked Hillary Clinton on the 2016 campaign trail for giving paid speeches to Goldman Sachs employees.

He even went as far to say in February 2016 that Goldman Sachs had "total control" over Clinton. (Trump said the same thing about Republican rival Ted Cruz.)

The president has defended his decision to hire so many people who worked for Goldman Sachs by saying that he wanted people who "made a fortune" and not a "poor person" advising him.

Related: Trump complicit with Scaramucci attacks on Kelly

Trump actually nominated another Goldman Sachs executive, Jim Donovan, to be Mnuchin's deputy last March. But Donovan backed out two months later, citing personal reasons.

There's one more member of the Trump White House who has ties, albeit not a former job, at Goldman Sachs as well -- Securities and Exchange Commission chairman Jay Clayton.

Before Clayton took over at the SEC, he was a partner with the law firm Sullivan & Cromwell and one of his main clients was -- you guessed it -- Goldman Sachs.

That has led to concerns that the person who is supposed to be Wall Street's top cop may be too close to the companies he's in charge of regulating.

But with Cohn stepping aside, it will be interesting to see if Trump will re-up his campaign rhetoric to "drain the swamp."

After all, it looked like the notion that Washington was "Government Sachs" was alive and well during the first few months of Trump's presidency.

Goldman Sachs CEO Lloyd Blankfein, who supported Clinton, even defended his former colleagues for taking jobs at the White House.

"We will continue to encourage our people to contribute to government service if they are fortunate enough to be asked," Blankfein wrote in the company's annual shareholder letter a year ago.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 265146

Reported Deaths: 5777
CountyCasesDeaths
DeSoto17741191
Hinds16891332
Harrison14279204
Rankin11239220
Jackson10917190
Lee9071145
Madison8599169
Jones6731118
Forrest6208124
Lauderdale6121192
Lowndes5544120
Lafayette520598
Lamar505865
Washington4933125
Bolivar4126109
Oktibbeha408382
Panola386981
Pontotoc377460
Monroe3686110
Warren3685103
Marshall357170
Union356864
Pearl River3495106
Neshoba3490154
Leflore3118109
Lincoln306788
Hancock294262
Sunflower291975
Tate280662
Alcorn273154
Pike270181
Itawamba269363
Scott260048
Yazoo256756
Prentiss253754
Coahoma249755
Copiah249749
Tippah249750
Simpson242872
Leake238167
Marion224273
Grenada223972
Covington221073
Adams215171
Wayne213734
Winston207671
George204739
Newton199946
Attala197064
Tishomingo194961
Chickasaw189344
Jasper181138
Holmes172068
Clay166837
Tallahatchie157235
Stone152525
Clarke148162
Calhoun141322
Smith130026
Yalobusha123335
Walthall114537
Greene113729
Noxubee113026
Montgomery112036
Carroll106822
Lawrence106817
Perry105131
Amite102126
Webster96824
Tunica89021
Claiborne88825
Jefferson Davis88430
Benton85823
Humphreys84724
Kemper80920
Quitman7139
Franklin70617
Choctaw63713
Wilkinson59825
Jefferson56821
Sharkey45217
Issaquena1606
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Alabama Coronavirus Cases

Cases: 441170

Reported Deaths: 6660
CountyCasesDeaths
Jefferson646811007
Mobile31620572
Madison28310217
Tuscaloosa21525275
Montgomery19954332
Shelby19335132
Baldwin17256189
Lee13205107
Morgan12639142
Etowah12107181
Calhoun11521206
Marshall10471123
Houston9009164
Limestone834981
Cullman8274124
Elmore8214110
DeKalb7894107
Lauderdale7871107
St. Clair7854130
Talladega6481112
Walker6036183
Jackson601545
Colbert549994
Blount547386
Autauga537662
Coffee462464
Dale410785
Franklin374950
Russell357515
Chilton345473
Covington339680
Escambia335444
Tallapoosa3149109
Dallas313296
Chambers304270
Clarke300236
Pike262531
Lawrence254155
Marion253761
Winston233642
Bibb222348
Geneva211547
Marengo209331
Pickens199631
Hale185244
Barbour182738
Fayette178629
Butler174460
Cherokee165731
Henry159925
Monroe152421
Randolph146436
Washington142327
Clay130546
Crenshaw124045
Macon122337
Cleburne121825
Lamar120222
Lowndes115536
Wilcox107922
Bullock103528
Perry100018
Conecuh97922
Sumter90527
Greene77923
Coosa63618
Choctaw51924
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