Since winning the election, of course, Trump seems to have had a change of heart. Rather than draining the swamp, Trump has fully embraced the revolving door, and has hired insiders from various industries to oversee regulation of their own industries. If anything, Trump appears to be following his former opponent’s governing philosophy, which purports that “the people that know the industry better than anybody are the people who work in the industry.” What is particularly ironic about Trump’s swampy administration is that it is made up of — surprise! — top Goldman Sachs alums, including his Treasury nominee, Steven Mnuchin, who was formerly a partner at the notorious Wall Street firm that Trump repeatedly bashed during his campaign.
On Wednesday, Trump let loose another alligator in the swamp, tapping Wall Street lawyer Jay Clayton to run the Securities and Exchange Commission. As the Washington Post reported: “Clayton is a partner at Sullivan & Cromwell, a well-known law firm, and has represented some of the biggest names on Wall Street, including Goldman Sachs and Barclays, and helped them weather regulatory scrutiny.” Read full story here