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Like Obama, like Trump: Biden embraces Goldman Sachs bankers after Electoral School win

Helen Buyniski is an American journalist and political commentator at RT. Comply with her on Twitter @velocirapture23

Regardless of spending the marketing campaign season portray himself because the anti-Trump, Democratic President-elect Joe Biden has additional adopted in his predecessor’s footsteps, appointing not one however two Goldman Sachs alums to his cupboard.

Ex-Goldman banker Eric Goldstein, who labored on the funding financial institution’s Service provider Banking division for practically twenty years, will be a part of Biden’s Homeland Safety Evaluation Workforce, Politico revealed on Monday. His erstwhile colleague Monica Maher – at the moment vice chairman of cyber risk intelligence at Goldman Sachs – has been appointed to the Nationwide Safety Council Evaluation Workforce.

The timing of the appointments is auspicious, coinciding with the Electoral School vote to formally certify Biden’s victory. Whereas it’s not clear whether or not the Biden group intentionally selected to swear fealty to the financial institution that has grow to be a byword for neoliberal extra after it was too late for electors to alter their minds, coziness with Goldman Sachs has confirmed an unwieldy albatross necklace for a number of of Biden’s predecessors.




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Failed presidential candidate Hillary Clinton, for instance, was eviscerated on the marketing campaign path in 2016 over her obvious coziness with Wall Avenue and Goldman particularly, slammed by Democratic socialist rival Bernie Sanders over her refusal to launch the transcripts of a number of highly-paid speeches she gave to the financial institution. Supposed transcripts of the speeches launched by WikiLeaks forward of the vote had Clinton gushing that solely Wall Avenue insiders have been certified to control Wall Avenue, suggesting the candidate deliberate at hand regulatory energy to the identical individuals who’d damaged the financial system in 2008.

And even former President Barack Obama, below whom Biden served as vice chairman, was lambasted by progressive Democrats for primarily permitting funding financial institution Citigroup to nominate his cupboard within the wake of the virtually half-a-trillion-dollar TARP bailout that put taxpayers on the hook for paying off Wall Avenue’s playing money owed. Citi exec Michael Froman, whom Obama appointed as US commerce consultant, despatched out a listing of practically three dozen cupboard alternatives, most of which the incoming president crammed as suggested.

And regardless of vowing to “drain the swamp” of Washington insiders, revolving-door lobbyists, and corrupt profession criminals, President Trump himself appointed Goldman Sachs banker Gary Cohn as director of his Nationwide Financial Council as he ready to take workplace in 2017. Treasury Secretary Steve Mnuchin, too, boasted a prolonged stint with the “vampire squid” earlier than leaving in 2002 to work for a collection of hedge funds. The hires earned Trump jeers from his supporters, who maybe naively assumed the favored slogan meant he wouldn’t shunt the swamp’s slimiest slithering specimens instantly into his cupboard.

Whereas the dearth of daylight between Biden’s and Trump’s financial insurance policies has shocked some, clear-eyed progressive critics of the incoming Democrat administration noticed Biden’s bait and change coming from miles away, deriding so-called “Bidenomics” as extra of the identical American trickle-up neoliberalism designed to tear off the working class and line the pockets of the rich. Wall Avenue donors spent upwards of $74 million to put in their superannuated candidate within the Oval Workplace, leaving little doubt on who the fats cats’ presidential choose is likely to be.




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However a number of deluded souls who genuinely believed they may push the institution careerist “to the left” have taken the Biden marketing campaign’s determination to combine the worst points of Obama and Trump’s pillage celebration as a private affront. The Democrat’s cupboard is populated virtually totally with second-stringers from the Obama years, from the then-Federal Reserve chief Janet Yellen (now tapped for Treasury secretary) to virulent anti-Sanders harpy Neera Tanden (poised to grow to be head of the Workplace of Administration and Price range) – and Goldman Sachs and its fellow funding banks aren’t even probably the most rapacious monetary companies on the scene anymore.

That honor goes to BlackRock and its fellow personal fairness vulture capitalists. As regular, Biden’s individuals have their finger squarely on the nation’s pulse as they put together to tear the still-beating coronary heart out of the US’ financial corpse: BlackRock exec Brian Deese has been tapped to guide the cupboard’s Nationwide Financial Council.

Nonetheless, many of Biden’s supporters celebrating his victory appear blind to the similarities between their hopes for actual, ground-breaking change and people of supporters of each Obama and Trump. These hopes stubbornly persist even after the previous VP assured his donors final 12 months that “nothing will basically change” when he takes over. Meet the brand new boss, similar because the outdated boss.

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