Trump Picks yet Another Goldman Sachs Executive for Key Economic Job, This Time Its President

Gary Cohn’s Bank Helped Cause 2008 Financial Crisis, He Shouldn’t Have Anything to Do with America’s Economic Policies


 

WASHINGTON, D.C. – Today, following news that President-elect Donald Trump has selected Goldman Sachs president Gary Cohn to serve as director of the National Economic Council, Allied Progress released the following statement from its executive director Karl Frisch:

“For more than a year, Donald Trump pledged to American workers that he would defend them from the Wall Street insiders, K Street lobbyists, and corrupt politicians that have made their lives more difficult.” 

“His selection of Goldman Sachs president Gary Cohn to serve in this important economic policy role is further proof he doesn’t plan on keeping his word with workers.”

“This is a guy who once complained that he was only making $53 million a year. Washington doesn’t need Gary Cohn. The Trump administration already has too many entitled, out-of-touch millionaires and billionaires.”

BACKGROUND:

  • Cohn Complained When He Learned He’d Be Paid $53 Million Per Year: “At a meeting of senior Goldman executives in fiscal 2006, Mr. Cohn was told he would earn $53 million that year—the same amount as Jon Winkelried, who then shared the duties of president with Mr. Cohn and was at the meeting. ‘Well, that is hardly fair,’ Mr. Cohn said. He says the remark was made in jest. Not everyone saw it that way.” [Susanne Craig, “Goldman’s Cohn Is Next on Hot Seat,” Wall Street Journal, June 30, 2010.]

In the weeks and months ahead, Allied Progress will continue to hold the president-elect’s transition and eventual administration accountable for its cabinet and staffing decisions, as well as the policies it pursues.

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To speak with Allied Progress about this release, please contact Lia Weintraub at 860-803-4812 or lia@thepastorumgroup.com.

Allied Progress uses hard-hitting research and creative campaigns to hold powerful special interests accountable and empower hardworking Americans.

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