Warren Slams Trump?s Pick for Treasury

Instead, he’s diving right in.

The Progressive Change Campaign Committee called Mnuchin a “Wall Street tool” and “yet another out-of-touch billionaire who is more concerned with self-dealing for Wall Street than protecting Americans from the too big to fail banks”.

“Many of the Trump appointees were born wealthy, attended elite schools, and went on to amass even larger fortunes as adults”, note Jim Tankersley and Ana Swanson at The Washington Post.

Jeff Sessions, his pick for Attorney General, is worth around $7-million, based on estimates.

During his campaign, Trump threatened to put tariffs on USA companies that shift jobs overseas.

President-elect Donald Trump has picked 53-year-old Steven Mnuchin, a former Goldman Sachs executive and founder of RatPac-Dune Entertainment, as the secretary of the Department of Treasury.

On Wednesday morning, as a former Goldman Sachs executive was getting into his auto in the suburbs to drive into NY, he said he was relieved by the Mnuchin news.

And in an interview with CNN, Miller noted that Mnuchin and Ross had advised Trump during the campaign, helping him to narrow in on the disruptive trade policy proposals, for example, that he lambasted on the stump. “I won’t owe anybody anything”.

Future appointments could further increase the wealth of Trump’s cabinet.

“These are experts who know how to win”, spokesman Jason Miller said Wednesday.

Less than a month after his presidential win, Trump’s populist appeal has started to clash with a Cabinet of billionaires and millionaires that he believes can energize economic growth.

Mnuchin bankrolled Batman v. Superman, Dawn of Justice, Suicide Squad, and The Legend of Tarzan.

Mnuchin gathered billionaires including George Soros and John Paulson and assembled a $1.6 billion bid to buy IndyMac.

Ross orbits a similar world as Trump, as both of them have luxurious homes in Manhattan and Palm Beach, Florida.

“Mr. Ross is highly recognized as a skillful negotiator and visionary investor, able to reinvigorate ailing businesses and entire industries”, said spokeswoman Jeaneen Terrio.

The choice for transportation secretary, Elaine Chao, is the daughter of a shipping magnate. “This pick makes clear that Donald Trump wants to cater to the same Wall Street executives that have hurt working families time and again”.

Donald Trump’s choice for Treasury secretary, Steve Mnuchin, is just another Wall Street insider.

If anything, some Republicans appear relieved. Trump’s massive tax cuts and infrastructure spending are expected to fuel inflation, putting upward pressure on the dollar.