The Vampire Squid Diaries: Goldman Sachs Exec To Head Trump Treasury
The Sachs and the City Sequel Nobody Asked For
Photo by Drew Angerer / Getty
Trump has decided to name a member of Wall Street as his Treasury Secretary: Goldman Sachs Group executive Steven Mnuchin. As you might remember, Sachs had a major hand in almost sinking the world back in 2008. They have been richly rewarded for their greed and sociopathy.
Our economic system favors them, Obama cherishes them, Team Clinton worshipped them, and now Donald Trump pays homage. This is the latest of those prizes. To quote Bloomberg Markets, “If Mnuchin becomes Treasury secretary, he’ll be the third Goldman Sachs alum in three decades to get the job.” Sachs, who Matt Taibbi famously called a “Vampire Squid,” is welcome at Trump’s table.
According to Business Insider, the usual suspects were not pleased:
“During the campaign, Donald Trump told the American people that he was going to change Washington by taking on Wall Street,” Sanders and Warren said in a rare joint statement. “Donald Trump’s choice for Treasury secretary, Steve Mnuchin, is just another Wall Street insider. That is not the type of change that Donald Trump promised to bring to Washington – that is hypocrisy at its worst.”
The Orangeman’s deep draw from the smiling-son-of-a-bitch pool is a nice indicator of what’s to come. This won’t come as a shock to those of you who paid close attention to Donald. His principles bend, and so do his knees. The financial industry has drained more than its fair share of the life-energy of the Republic for two hundred years.
However, they’ve really taken off in the last decades, drinking up fat times like a poison mushroom. Trump spoke of draining the swamp, but in reality, the man will do nothing but fill the bog full of debauched bankers and billionaires. Why wouldn’t he? He’s not a President; even when he becomes President—he’s a pile of iron shavings which flicks itself at the strongest magnet in the neighborhood. That magnet currently resides at 200 West Street in the city of New York.
Supporters of the Donald were quick to offer contrary takes: Mnuchin, they insisted, was a longtime friend of Trump. The Orange Nation pointed out, nervously, that Trump and Mnuchin were bros—and even megabros—from yesteryear on. Mnuchin’s pa was Robert Mnuchin, who toiled in the Sachs mills, working the institutional equity angle for thirty-plus years. Steven became the firm’s Chief Info Officer back in ‘99. He collaborated with the bogeyman himself, George Soros, and financed Hollywood movies.
I suppose Mnuchin’s tie-in with another showbiz billionaire makes sense. There are plenty of marks against Steven, including that he managed mortgage-backed securities trading.
But let’s be honest: he’s from Goldman Sachs. Does it matter precisely what kind of Dracula he is?
It didn’t help Trump’s cause that this happened right after the embarrassing dinner with Romney, where the stalwart man of the people was seen deep in secret cahoots with the country club set, the very same people his entire campaign had been so dead-set in opposing. Was this the Marmalade-Colored Revolution we’d been promised?
In a way, it’s comforting. A Trump administration which falls to the usual right-wing corruption will be easy prey. The Orange House is a short-term danger to all kinds of people, but what about the far-off future of four years from now? Trump-style populism, if successful, would pose a long-term threat to alternative theories of politics, other parties. It would be something new in the system, something not easily countered. A serious, enduring shadow.