Gary Cohn, President Donald Trump’s pick to lead the National Economic Council, will receive severance in excess of $100 million as he exits Goldman Sachs, the Wall Street firm where he was second in command.
The finance behemoth will give him $100 million, and will also permit him to cash in on $23 million of stock options. Cohn has to divest himself of Goldman holdings in order to comply with ethics requirements.
Trump’s stable of advisers will be stocked with Goldman Sachs execs, including Treasury Secretary nominee Steve Mnuchin and White House chief strategist Steve Bannon. Aside from that, he has chosen billionaires for other posts, among them Wilbur Ross for Commerce Secretary and Andy Puzder for Labor Secretary.
It’s a stark reversal for a candidate who ran on a promise to “drain the swamp” in Washington, which included running a divisive commercial that was seen as attacking the banking sector and rival Hillary Clinton in borderline anti-Semitic fashion.
This story "Trump Economic Adviser Gary Cohn Gets $100M Golden Handshake From Goldman Sachs" was written by Daniel J. Solomon.