There’s a Lot of Goldman Sachs in the Forthcoming Trump White House
If anyone were to analyze the makeup of the next U.S. government, they would notice a heavy influence from Goldman Sachs Group Inc (NYSE:GS). Indeed, if anyone has won big, it would have to be the famous investment bank. Goldman Sachs stock has taken off since Donald Trump’s election.
Some are already nicknaming the Trump White House the “Sachs Government.” If Goldman Sachs has won as an institution, the single person who has won the most since the election of Trump is the bank’s CEO: Lloyd Blankfein. (Source: “How You Become a Crony,” Capital & Conflict, December 14, 2016.)
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Goldman Sachs stock’s course is back to its 2008 pre-crash level. Goldman Sachs stock has gained over 31% since November 8. Blankfein is also in full form; his stake in the company has earned him $140.0 million over the past four weeks. This is all thanks to the Trump effect. (Source: Ibid.)
And to think that most people thought Hillary Clinton was the Goldman Sachs candidate!
Donald Trump won the election, it seems, because he promised to break down the elite vicious circle. But, judging from the prominent role of the world’s most famous investment bank (and other top appointments), Trump’s government appears to have taken the opposite direction.
The Trump effect in the markets has made the world’s richest some $4.4 trillion richer in the past four or five weeks. (Source: Ibid.)
But this is merely the beginning, say some of the United States’ top investors, including Carl Icahn and Ray Dalio.
But, hey, who’s to say that with such valuable (in the sense of high net worth) people around him, Trump won’t succeed in spreading a little prosperity? For example, Steven Mnuchin, a former banker at Goldman Sachs, will after all serve as President Trump’s Secretary of the Treasury. Jack Welch, Trump’s financial advisor, used the credit boom in the 1980s and 1990s to transform General Electric Company (NYSE:GE), a manufacturing giant, into giant of finance. (Source: Ibid.)
