CAVEAT: Trump’s Economic Team is Wall Street

Donald Trump Tower

Donald Trump TowerIn their recent campaigns, both Clinton and Trump have expressed their plans to end the Wall Street monopoly to bring back the money of the people.

Along the lines of their almost year-long campaigning, they both had the idea to re-implement a new version of the Glass-Steagall law, which will forcefully break down “too big to fail” organizations in Wall Sreet. However, both of them were found to be in cahoots with the very same elitist groups in the largest conglomerate of banks in the world.

First to be exposed was Clinton, as thousands of emails were leaked by an unknown group, implicating her deep ties with various organizations even before she was the US Secretary. And fresh out of the Republican National Convention (RNC), Donald J. Trump has announced his “economic team” will be comprised of Tom Barrack, Steve Mnuchin, John Paulson, and 10 others who are basically the very founding fathers of Wall Street.

A Men-Dominated Conclave

According to Trump, his economic team of billionaires, bankers, and investment managers have shown great results as he had personally worked with them before. Through this, Trump’s party expects to generate even larger funding from the connections of these 13 men from the financial sector.

“They certainly can provide many useful insights, assuming Trump is willing to listen to them – it’s just I would like to see more diversity in terms of expertise and background,” said James Pethokoukis from the American Enterprise Institute (AEI). However, this same action cancels outs his previous oratories about cutting down the excessive power in the top four largest banks — because these men are from those organizations.

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Despite his promise to not mix personal interests with the country’s modern renaissance, it’ll be hard to determine how true will be his cause; as he’s going to work closely with the same guys he wants to take down.

The Top List

Trump’s economic team are comprised of “developers,” hedge fund managers, and bankers. But, according to Kevin A. Hassett, economist at AEI, “It is pretty common for campaigns to have a long list of well-known business leaders who act as ‘advisers,’ but there is a large variation in how active they really are.”

The team will be headed by Stephen Miller and Dan Kowalski from party’s national policy group. Members are:

  1. John A. Paulson — President and chief executive of the investment firm Paulson & Co.
  2. Steven Mnuchin — National finance chairman of the Trump campaign
  3. Steven Roth — Founder and chairman of Vornado Realty Trust, the largest owner of commercial real estate in New York City
  4. Harold Hamm — An Oklahoma oil magnate
  5. Howard M. Lorber — The chief executive of Vector Group, a holding company of tobacco and real estate interests
  6. Andrew Beal — The founder and president of Beal Bank
  7. Thomas Barrack Jr. — The founder and executive chairman of the Los Angeles-based Colony Capital
  8. Stephen M. Calk — The chief executive of the Federal Savings Bank
  9. David Malpass — Former chief economist at Bear Stearns who later founded an economic consulting firm
  10. Dan DiMicco — The former president and chief executive of the Nucor Corporation, one of the country’s largest steel makers
  11. Steve Feinberg — The founder and chief executive of Cerberus Capital Management, a private equity firm
  12. Peter Navarro — A professor of economics and public policy in the business school at the University of California
  13. Stephen Moore — A visiting fellow at the conservative Heritage Foundation’s Project for Economic Growth
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