President-elect Donald Trump promised to “drain the swamp” of establishment-heavy Washington DC. Instead, he recruited prominent Wall Street figures including Steve Bannon as Chief Strategist and Steven Mnuchin as Treasury Secretary, both former global investment firm Goldman Sachs’ employees. Therefore, the media denounced the apparent contradiction between Trump’s speeches and Trump’s choices, even before he becomes the 45th POTUS for real on January 20, 2017.
In fact, assessing that Trump campaigned against Wall Street resulted from an erroneous perception, the same way as the support for Trump within the military and intelligence circles was constantly underestimated. Trump did tell that he would compel Wall Street to become a fairer participant in the US economy, however he never said he would exclude Wall Street from his plans of “making America great again”.
Trump actually advocated that Wall Street must serve the US interests first rather than the Billionaires’ exclusively. Finally, throughout the whole campaign, Cyceon noticed that a large portion of the Wall Streeters supported Trump’s economic vision considering that working in the best interests of America would be in their interests too and that in the event Trump won, best would be to work with Washington rather than against it.
Such pragmatic stance contrasted with several highly-publicized billionaires like Warren Buffett who’ve been stalwart supporters of Democratic nominee Hillary Clinton. However rich were these billionaires, they represented just a fraction of Wall Street. Financiers and investors have always been a powerful political force. What’s changing with Trump is that they’re now working in the open rather than in the dark, right there as prominent members of the upcoming new administration rather than as disruptive funders operating in the shadows.