Transition Briefing: Trump Eyes Goldman Sachs President for Economic Post; Millions Spent on Campaign, and Millions Made Back

by admin December 9, 2016 at 7:13 pm

Mr. Trump used Wall Street and “the global elites” as constant foils during the campaign, featuring Goldman’s chief executive officer and chairman, Lloyd Blankfein, in his dark closing argument.

Donald Trump’s Argument For America Video by Team Trump

Since his victory, however, he has tapped Mr. Mnuchin, a former Goldman Sachs partner, for Treasury; the billionaire investor Wilbur Ross to be his commerce secretary; Todd Ricketts, heir to the Ameritrade fortune, to be deputy commerce secretary; and now Mr. Cohn.

The National Economic Council was created by President Bill Clinton — another frequent foil of Mr. Trump’s — to show that domestic policy would be equal to foreign policy. Like the older National Security Council, the N.E.C. coordinates the policies of the Treasury, labor and commerce departments, as well as other agencies like the Small Business Administration and the Council of Economic Advisers.

And because Mr. Cohn will sit in the White House complex, he is likely to be extremely influential on Mr. Trump.

He is also a big contributor to federal campaigns on both sides of the aisle, including tens of thousands to Democrats and Democratic campaign committees.

Adding Mr. Cohn to the economic team was a favorite idea of Mr. Trump’s son-in-law, Jared Kushner. And he does not break the streak of wealthy Trump teammates. His most recent total compensation package made public at Goldman exceeded $20.5 million.

Goldman Sachs shares, by the way, are up 33 percent since Election Day.

Cathy McMorris Rodgers is likely choice for interior secretary.

Ms. McMorris Rodgers, the highest-ranking woman in the House Republican leadership, is expected to be announced as Mr. Trump’s secretary of the interior as early as Friday, two people close to the transition efforts said. Ms. McMorris Rodgers comes from Washington, a state with large federal land reserves, and she also had been critical of Mr. Trump at various points during the presidential campaign.

Aides to Mr. Trump did not respond to requests for comment.

The Trump campaign outraised Clinton’s at the end.

In the last part of his winning run, Mr. Trump’s campaign amassed more money than Hillary Clinton’s, according to records filed with the Federal Election Commission late Thursday. Mrs. Clinton’s campaign took in $70 million from Oct. 20 to Nov. 28, compared with $86 million for the Trump campaign, of which $10 million came from his own pocket.

In terms of spending, Mrs. Clinton relied on the war chest she had built up during the course of the campaign to spend almost $131 million, compared with $94 million spent by Mr. Trump. Mrs. Clinton closed the period with under a million dollars in the bank, much less than the $7 million remaining for the Trump campaign.

Give and take a few million.

Mr. Trump may have tossed in a few million in the final weeks of his campaign, but he also took a few, soliciting donations from supporters, then reimbursing himself for rent and his airplane.

From Oct. 20 through Nov. 28, the period covered by a postelection report filed with the F.E.C., the campaign paid nearly $3 million to properties owned by Mr. Trump, including rent to Trump Tower and event fees to other Trump hotels. The largest part went to Tag Air, the company that operates Mr. Trump’s airplane.

The new disclosures bring the total amount that Trump companies earned from his campaign to nearly $12 million. The campaign itself was hardly a moneymaker for Mr. Trump himself, though. The president-elect’s total cash contributions came in at more than $65 million, well short of the $100 million he had originally promised but likely more than his businesses earned off the venture.

Cash and carry.


Linda McMahon, the president-elect’s choice to head the Small Business Administration, at Trump Tower last month.

Sam Hodgson for The New York Times

Linda McMahon, a pro wrestling impresario, put $1 million into Future45, a pro-Trump “super PAC,” in the final stages of the presidential campaign, taking her total contribution to the organization to $7 million.

This week, Ms. McMahon — who lost twice in recent years as a Republican candidate for the United States Senate in Connecticut — was chosen by Mr. Trump to head the Small Business Administration.

Peter Thiel, the Silicon Valley billionaire who took down Gawker, gave $1 million to Make America Number 1, an anti-Clinton “super PAC” run by the Mercer family, hedge fund billionaires. He has not been named to a position by the transition team, but he has been mentioned as a possibility for the Supreme Court.

From the department of ‘National Divide’



But Mr. Trump did tell Time magazine he had done nothing to divide the country.

Inaugural festivities — and a rally, naturally.

The Trump inaugural committee offered details for the multiday party planned for Mr. Trump’s inauguration, which in a departure from the norm will include a welcome rally. (The president-elect does love his rallies.)

The announcement:

“The inaugural ceremonies will span over several days and will include events for the public on the National Mall, a welcome rally with President-elect Trump, a parade, two inaugural balls, as well as a ball saluting our armed services and first responders. A continuation of the President’s commitment to Make America Great Again! is the perfect foundation for President-elect Donald Trump and Vice President-elect Mike Pence as they once again make the government of, by and for the people.”

Not stated: A Million Women March is being organized for the day after with a different message — though organizers did not get formal permits for the mall.

Time to leave Trump Tower?

The president-elect’s transition work continues to hum at Trump Tower, with most personnel decisions being made from New York, while the landing teams put together in the weeks before his campaign victory work hundreds of miles away in Washington. Mr. Trump has resisted efforts by his chief of staff, Reince Priebus, to move the transition work to Washington, given how many people are traveling north every week.

At the same time, Mr. Trump’s aides are discussing the possibility of the president-elect taking an extensive trip to Mar-a-Lago, his resort in Palm Beach, Fla., before Christmas and lasting well into the new year.

Continue reading the main story

Source link

more news from the blog

Add Comment