Trump picks Goldman Sachs chief for top economic adviser: report

Trump picks Goldman Sachs chief for top economic adviser: report
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Donald TrumpDonald John TrumpPompeo changes staff for Russia meeting after concerns raised about top negotiator's ties: report House unravels with rise of 'Les Enfants Terrible' Ben Carson: Trump is not a racist and his comments were not racist MORE has picked Goldman Sachs President Gary Cohn to direct the National Economic Council in the White House, NBC News reported Friday morning.


The council helps advise the president on economic policy.

Cohn would be the second Goldman-linked appointment for the president-elect, who already named former Goldman Sachs partner Steven Mnuchin as Treasury secretary.

Cohn met with the president-elect at Trump Tower in late November, according to pool reports, setting off speculation that the Wall Street executive would be a part of the administration.

Trump was a vocal critic of Wall Street banks on the campaign trail and repeatedly called on Democratic nominee Hillary ClintonHillary Diane Rodham ClintonTrump thanks 'vicious young Socialist Congresswomen' for his poll numbers Will Trump's racist tweets backfire? Democrats fret over Trump cash machine MORE to release the transcripts of the paid speeches she delivered to Goldman Sachs. He also accused former GOP primary rival Sen. Ted CruzRafael (Ted) Edward CruzGoogle official denies allegations of ties to China The Hill's Morning Report - Presented by JUUL Labs - House to vote to condemn Trump tweet Cruz in 2016 said 'something fundamentally wrong' with Christians who back Trump: book MORE (Texas) of being “owned” by Goldman Sachs.

Goldman Sachs CEO Lloyd Blankfein said in October that he was backing Clinton for president. 

Critics have scrutinized some of Trump’s Cabinet picks, arguing they go against his vow to “drain the swamp” in Washington.

Sen. Bernie SandersBernie SandersSanders to call on 2020 Democrats to reject money from drug, health insurance industries The hidden connection between immigration and health care: Our long-term care crisis Harris tops Biden in California 2020 poll MORE (I-Vt.), an outspoken critic of Wall Street, blasted the Cohn appointment.

Cohn is the latest wealthy addition to a Cabinet that already has a net worth of $14.5 billion, according to NBC News. According to Vanity Fair, his salary from Goldman Sachs is around $22 million a year.

During a rally in Des Moines, Iowa, on Thursday night, Trump defended his Cabinet selections, saying rich people are especially qualified to run the government.

“One newspaper criticized me: ‘Why can’t we have people of modest means?' " he said. “Because I want people that made a fortune. Because now they’re negotiating with you.”

“These people are giving up fortunes of income in order to make a dollar a year, and they’re so proud to do it," Trump added.

Cohn, who is a registered Democrat, has donated to members and committees in both parties. He contributed to Senate Democrats’ campaign arm between 2004 and 2008. More recently, he gave money to House Republicans’ campaign arm in 2015, as well as to senators on both sides of the aisle.