Trump Nominates Wall Street Lawyer to Head S.E.C.

[BeyondGeography]

Source: New York Times

President-elect Donald J. Trump said on Wednesday that he planned to nominate Jay Clayton, a partner with the prominent New York law firm Sullivan & Cromwell, to lead the Securities and Exchange Commission, the latest appointment with strong ties to Wall Street.

If confirmed, Mr. Clayton will be responsible for “encouraging investment in American companies” and “providing strong oversight of Wall Street and related industries,” according to a statement by Mr. Trump’s communications office on Wednesday morning.

“We will carefully monitor our financial sector, as we set policy that encourages American companies to do what they do best: create jobs,” Mr. Clayton said in the statement.

The role of the federal agency is to protect investors and enable companies to raise capital through the public markets in a way that fosters economic growth.

An adviser to Goldman Sachs, Mr. Clayton would join several Wall Street alumni in serving in Mr. Trump’s administration. Steven Mnuchin, a former Goldman Sachs trader who runs his own hedge fund and invested in Hollywood movies before leading fund-raising for Mr. Trump during the election, has been nominated to be Treasury secretary. Wilbur Ross, the billionaire investor, has been picked as the next commerce secretary, while Gary D. Cohn, who was No. 2 at Goldman Sachs, will be Mr. Trump’s economic top policy adviser.

Read more: http://www.nytimes.com/2017/01/04/business/dealbook/donald-trump-sec-jay-clayton.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news&_r=0

[Achilleaze]

1. Merily merrily merrily filling up the SWAMP (R)

[nitpicker]

11. +1

[mahatmakanejeeves]

2. "The role of the federal agency is to protect investors...."

I think it's so great that the New York Times finally got a comics page.

[SHRED]

3. And to think that Trumpanzees...

...wanted to "lock her up" for speeches.

[tenorly]

4. It figures that a guy that reads Hitler speeches would choose a Sullivan & Cromwell stooge.

Sullivan & Cromwell, for those unfamiliar with the name, gained notoriety during World War II for serving as legal counsel, through its managing partner Allen Dulles, for Brown Brothers at the height of their money laundering activities for the Nazi Party.

Other clients included Krupp (the top Nazi weapons manufacturer), and I.G. Farben (the German chemical company which produced the Zyklon B gas used in concentration camps).

Other notable Sullivan & Cromwell clients at the time included United Fruit (which later called on Dulles to overthrow duly elected Guatemalan President Jacobo Arbenz) and Prescott Bush, who used Dulles' services at Sullivan to hide proceeds from Nazi banking activities instead of divesting them as government regulators had required.

As partner at Sullivan, Dulles signed his letters to Nazi officials with “Heil Hitler.”

[moondust]

8. Wow.

Oh yes, just the kind of great moral oversight and law enforcement you want policing the amoral marketplace! Highly recommended by the mob!

[SayItLoud]

5. Swamp, what Swamp?

Come to think of it tRUMP never really (could not clearly) identify what SWAMP. Now seems like it's the "swamp" that
helps people with needs, no insurance, underwater in housing, lost it all as Wall Street profited (and paid fines but no jail time). So, the SWAMP is the one the "Less Educated" that he loves, and the Deplorables that voted for him live in, not the SWAMP that lives above them and rips them off.

So, he is draining the Swamp, just not the one he KKKoned 50 million idiots to vote for him thought.

[bucolic_frolic]

6. Create jobs by repealing Obamacare

[Blue_Tires]

7. I'm old enough to remember when

all anybody ever wanted to talk about here was HRC's Wall Street connections...

And now we can't even get ten posts in this thread

[BeyondGeography]

9. Trump has been walking around with a neon "Bad News" sign over his head for many years

None of what we're seeing from him, from the intemperate tweets to the obvious corruption that is driving his treasonous views on Russia to the NY-moneymen who dominate his appointments so far, is a surprise. His voters are the ultimate dupes.

[BumRushDaShow]

10. His "Drain the swamp" was a typo for "Ordain the swamp". nt

[laserhaas]

12. Goldman Sachs & Sullivan Cromwell, could go down for RICO

if there were - ANY chance - for a decent public DoJ/SEC public servant, to do their job.

Our eToys case proves Goldman Sachs partnered with Bain Capital, to engage in racketeering;
which was aided & abetted by the law firms of Sullivan & Cromwell and MNAT.

Guess our chances for justice - just went out the window - with this crony/corrupt pick to head SEC.

https://shadowproof.com/2015/01/01/the-unending-etoys-com-bankruptcy/