Skip to main content

Goldman Sachs Is Hogging All The Trump Cabinet Appointments

How about handing out some administration jobs to the rest of Wall Street?
  • Author:
  • Updated:

If you're a denizen of 200 West Street, you may have noticed some new neighbors this week. A gaggle of demonstrators has taken up soggy residence at the corner of Vesey and West to protest the steady flow of current and former Goldman bankers to the Trump administration. Here they are bedding down in the cold rain Tuesday night.


Meanwhile, it looks like yet another Government Sachs employee is heading to D.C.: Jim Donovan. A managing director at the investment bank, Donovan has emerged as the front-runner for a key post in the Treasury Department. From Mike Allen's Axios newsletter Wednesday:

Looks like Trump is adding to his Goldman cast, bringing the alumni total in the administration to six: Jim Donovan, a partner, is the front-runner to be Donald Trump's pick for undersecretary of domestic finance

If all the appointments go through, Donovan would end up working for his old boss, departing Goldman President Gary Cohn. So at least there's some consistency there.

Still, however one feels about an incoming presidential administration stuffing its ranks with bankers, there's a question of fairness here. What about JPMorgan? Or Citigroup? Surely these fine institutions have plenty of talented individuals eager to serve in public office. We can recall at least one JPMorgan executive who seemed particularly keen on joining the administration.

Or maybe Trump could even hire a Deutsche banker or two, given how sweet they've been to him. Now that Deutsche Bank has settled its subprime-era charges, it's the least the president-elect could do for them.



'Government Sachs' Is Supposed To Be A Metaphor, Guys

Jim Donovan has been doing some pretty serious moonlighting.

(Getty Images)

This Is Why You Don't Fill A Cabinet With Goldmanites

Being in the Trump administration was pretty fun until they started arresting people.


The Trump Administration Isn't Just A Bunch Of Goldman Dudes – Now There's A Goldman Woman

The newest White House pick adds needed diversity to the administration's roster of Goldmanites.

Lloyd Zoom

2016: The Year In Goldman Sachs

A year defined by anti-elite populism ended up putting Goldman back on top of the world.


Goldmanite's Public Service Career Tragically Cut Short By Sudden Attack Of Common Sense

Jim Donovan ceding his Treasury spot to someone with a more finely honed sense of masochism.