Gary Cohn for Head of National Economic Council

After Headhunting Steve Mnuchin for Secretary of Treasury, Trump might have his eyes on no other than the COO and 2nd man of Goldman, Gary Cohn for Head of National Economic Council.

Cohn has been long rumored to lead Goldman after the departure of its current CEO, Lloyd Blankfein, which has given no hint so far of any plans to depart anytime soon. Cohn was also rumored to have grown impatient waiting for any evolution and this move might sound reasonable to him, as any move to government posts has its special financial incentives as well.

Goldman is starting to have a very strong record for placing its executives in top government posts, let's take Henry Paulson or Mario Draghi, the Head of ECB for example.

Im guessing that soon, we would see monkeys posting things like:
AMA: Target School -> IB Analyst -> Top 15 MBA -> MD BB -> Secretary of Treasury' hahaha

jokes aside, thoughts on these placements?

Comments (55)

Dec 12, 2016

Cohn is Intelligent and successful. I would vote for him for POTUS over Trump any day.

Dec 12, 2016

Pleased with this appointment

Dec 13, 2016

would you say this appointment gave you a raging....Cohner?

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Dec 12, 2016

One could call it that

Dec 13, 2016

Goldman Sachs bankers and now Exxon-Mobil's CEO, America's corporatocracy is REALLY being dealt with now. Drain the swamp!

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Dec 13, 2016

Gary Cohn, Steve Bannon, Wilbur Ross and Steve Mnuchin ... it's kind of ridiculous

has crony capitalism ever looked so bad?

Dec 13, 2016

Butt Hurt is real. Drain the Swamp is in reference to lobbyists. Who exactly is Trump supposed to nominate for these roles?

I'm sure you'd be so supportive if Trump picked Joe the Plumber to run State or Treasury.

Dec 13, 2016

not tryna argue with you bro (notice I haven't responded to your Pro-Russia drivel), don't really give a fuck either way. I'm sure that the people who voted for him due to populism are overjoyed that his economic policy will be run by Goldman Sachs bankers and his foreign policy will be overseen by the CEO of Exxon-Mobil, possibly the most globalist company in the world.

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Dec 13, 2016

The people who voted for Trump will be happy when TPP is killed, when immigration is enforced and when common core is done with.

I reiterate, who exactly should he have chosen? Pick someone from JPM and people will cry about Wall Street. Pick someone with zero experience and the markets will revolt.

If the goal is to make smart deals overseas which benefit Americans, then yes, I am sure his supporters will be happy with an Exxon CEO. Especially since a big policy point for trump was American energy production and global warming harming US jobs.

Bankers are Bankers. This idea that Goldman is any more or less worse in the eyes of everyday Americans is a joke.

Dec 13, 2016
  • Gary Cohn is probably for TPP: http://dealbreaker.com/2016/12/gary-cohn-explain-t...
  • don't think the ppl who voted for him based on anti-immigration and anti-trade really care about common core
  • I agree they'll probably get their way on immigration, though it's unlikely to actually affect the lives of his populist supporters
Best Response
Dec 13, 2016

1) Individuals can be for TPP. If Trump isn't, it is dead.

2) Common Core was one of the things Trump talked about. Fair Trade (not anti-trade) is what Trump was talking about. People voted for him for a variety of reasons.

3) Reducing illegal immigration and establishing actual borders will impact all of us. Eating out will cost more as we have to pay reasonable wages to Americans to cook in the kitchen and do dishes. Produce will cost more in the short term until capital investment can offset the reduction in slave labor.

All of us will benefit from more school dollars going to teach US citizens. Lower police and prison costs. Lower healthcare costs.

4) We will all benefit if corporate and individual taxes are reduces, if the billions overseas can be repatriated, if the multitude of burdensome regulation is repealed and removed, if Obamacare can be fixed so it isn't the utter disaster that it is now and if Trump nominates a Supreme Court Justice that isn't a proponent of legislating from the bench.

Dec 13, 2016

I don't really know anything about this guy and I'm sure he's brilliant, but come on--there are brilliant men and women all over the nation who could serve in these posts (heck, there are brilliant non-Goldman people in NYC if that's Trump's thing). How in the world does Goldman Sachs have such disproportionate influence in both Dem and GOP administrations? I mean, Goldman Sachs went out of its way to back Hillary Clinton, for goodness sake. I thought for once that corrupt financial institution would find itself on the outs. Guess not.

Dec 13, 2016

My guess it that it is actually far more simple than we think... If you had a friend who was definitely qualified for a job in your company, and you knew they may be looking for something, wouldn't you recommend them?

...

Dec 13, 2016

Government Sachs will never be on the outs, stop dreaming.

Dec 13, 2016

Man Virginia, I usually really see your posts as very fair-minded. Maybe it's just wishful thinking but the banks own the parties, not the other way around.

Besides, there are a few arguments (although not great ones) for the role of international investment banking partnering with US government... Worked well during and after WWII anyway.

Dec 13, 2016
realjackryan:

Man Virginia, I usually really see your posts as very fair-minded. Maybe it's just wishful thinking but the banks own the parties, not the other way around.

Besides, there are a few arguments (although not great ones) for the role of international investment banking partnering with US government... Worked well during and after WWII anyway.

Again, I'm not disputing the validity of having bankers involved in the federal government, but the revolving door between government and Goldman Sachs is conspicuous, to put it kindly.

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Dec 13, 2016

I agree that on the surface these appointments don't look great (bankers and CEOs). However, who is he supposed to nominate? In my mind the only people qualified for these posts are lifelong politicians or extremely successful business leaders. There are some politicians that I'd be ok with taking these positions, but by and large I am against rewarding lifelong politicians with these jobs. By process of elimination and meeting requisite experience, I'd be nominating a lot of business leaders as well.

I dont pretend to know much about him, but I may have found someone other than Tillerson if I were Trump, if only for perception.

twitter: @CorpFin_Guy

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Dec 13, 2016

I agree with you but there are literally millions of businesses in the United States. How in the world does Goldman Sachs end up filling so many roles in government? You have to admit that it's uncanny.

Dec 13, 2016

I would have loved for Trump to nominate the BB&T head. Although his austrian economic beliefs wouldn't have caused the market to go nuts.

And I think Trump was looking at a lot of well qualified people.

End of the day, if he can roll back some of the Dodd Frank legislation and make it easier for smaller/mid-sized banks to exist, I think this will be a benefit to main street as well as wall street.

GS is parasitic though, I agree. But I suppose you could make the same argument for all the TBTF banks. And with the recent press, which big banker was going to really compete for this role? BB&T CEO is too radical. Wells Fargo fucked itself with its recent bad press. Dimon said he didn't want the role. So now you have GS, MS, BAML and maybe some others.

Dec 13, 2016

Yeah, I dont know anything about Gary Cohn, so I'm certainly not cheerleading this appointment. However, for Secretary of Treasury specifically, it almost has to be someone from Financial Services. Not saying it should be another person from GS, but 2nd in Charge of a large financial institution seems to fit the bill.

twitter: @CorpFin_Guy

Dec 13, 2016

there are also hundreds of thousands of college football players, why is it so many from Ohio state make it into the NFL. Goldman produces

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Dec 13, 2016

Goldman Sachs bankers: paragons of the common man. Lol.

Dec 13, 2016

@BobTheBaker You need to get long GS and XOM, pop a few Valium, and ride the Trump Train

Choo choo!!

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Dec 13, 2016

lol I am long financials and bought into some oil companies before the OPEC meeting.

Dec 13, 2016

Alright Alright Alright

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Dec 15, 2016

I think there is a need for direct communication line between TNA and BobTheBaker.