Wall Street and the biggest U.S. banks, after spending a fortune to unseat President Trump, are getting key spots in Democrat Joe Biden’s transition team that he has devised before the presidential election is certified.
Detailed by the New York Times, Biden’s list of transition team members includes former Wall Street employees and those with close ties to Wall Street. Many of the big banks with links to Biden transition team members were major donors to the former vice president.
The Times reports:
Commerce Department: The review team is led by Geovette Washington of the University of Pittsburgh, who previously served as general counsel and senior policy adviser at the Office of Management and Budget. Other members include Anna Gomez, a partner at the law firm Wiley Rein; Arun Venkataraman, who works in government relations at Visa (and was director of policy at the Commerce Department under Mr. Obama); and Ellen Hughes-Cromwick of the think tank Third Way, who served as chief economist at Mr. Obama’s Commerce Department and held a similar role at Ford. [Emphasis added]
Treasury Department: The team is led by Don Graves, who heads corporate responsibility at KeyBank and previously worked as director of domestic and economic policy for Mr. Biden. Others include Nicole Isaac of LinkedIn and Marisa Lago, who works at the New York City Department of City Planning and previously oversaw global compliance at Citigroup. [Emphasis added]
Federal Reserve, Banking and Securities Regulators: The team is led by Gary Gensler, a top Wall Street regulator in the Obama administration who is now a professor at the MIT Sloan School of Management. The team also includes Dennis Kelleher of Better Markets, long a proponent of tougher rules for banks. [Emphasis added]
Gensler previously worked at Goldman Sachs and for failed Democrat presidential candidate Hillary Clinton. As Breitbart News reported, giant tech conglomerates are also getting representation on Biden’s transition team.
Likewise, the Wall Street Journal noted a number of Wall Street-types who are seriously being considered for cabinet positions in a potential Biden administration…