Rather than choose the impeccably qualified John Allison as his nominee for Treasury Secretary, Donald Trump has chosen instead to nominate a former Goldman Sachs banker, Steve Mnuchin. Despite Trump’s promise to drain the swamp, appointing Mnuchin is more of the same.
The Wall Street Journal reports:
President-elect Donald Trump will name longtime banker and former Goldman Sachs executive Steven Mnuchin as Treasury secretary, turning to a campaign loyalist and fundraiser for the incoming administration’s top economic cabinet post, a transition official said Tuesday.
Mr. Mnuchin, 53, played a behind-the-scenes role in Mr. Trump’s election, helping oversee the creation of a network of small donors that let the campaign compete successfully against the better-funded Hillary Clinton operation.
Mr. Mnuchin’s longtime Wall Street ties—his father spent his entire career at Goldman—make him a traditional pick for the Treasury spot. But the choice is at odds with Mr. Trump’s message that economic and political elites have left the country damaged. Still, his establishment profile may sit more comfortably with the Republicans in the Senate, which decides whether to confirm the nominee.