{"id":21885,"date":"2017-02-11T07:33:02","date_gmt":"2017-02-11T07:33:02","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=21885"},"modified":"2017-02-11T07:33:02","modified_gmt":"2017-02-11T07:33:02","slug":"senators-question-goldman-sachs-on-its-role-in-trump-banking-policy","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/politics\/senators-question-goldman-sachs-on-its-role-in-trump-banking-policy.html","title":{"rendered":"Senators question Goldman Sachs on its role in Trump banking policy"},"content":{"rendered":"<h2 style=\"text-align: justify;\">\n\t<span style=\"font-size:22px;\"><strong><span style=\"font-family:arial,helvetica,sans-serif;\">Senators question Goldman Sachs on its role in Trump banking policy<\/span><\/strong><\/span><br \/>\n<\/h2>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Senators question Goldman Sachs on its role in Trump banking policy:- Two U.S. senators are seeking details from Goldman Sachs Group Inc&#39;s (GS.N) chief executive on the extent to which the bank&#39;s employees were involved in drafting of the recent executive orders on banking and fiduciary regulations.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">In a letter to CEO Lloyd Blankfein dated Feb. 9 and made public on Friday, Democratic Senators Elizabeth Warren and Tammy Baldwin asked for details on &quot;lobbying&quot; activities in the bank related to review of the Dodd-Frank Act and the Obama-era fiduciary rule on financial advice.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Blankfein was also asked to detail the profits Goldman would make if these reforms came into effect.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">&quot;We&#39;ve had no involvement in the drafting of any executive orders,&quot; a Goldman spokesman said on Friday.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">In December, Trump appointed Gary Cohn, former Goldman president and chief operating officer, to head the White House National Economic Council, a group that coordinates economic policy across agencies.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Trump last week ordered reviews of major banking rules that were put in place after the 2008 financial crisis, drawing fire from Democrats who said his order lacked substance and squarely aligned him with Wall Street bankers.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">&quot;The executive orders released by President Trump on Friday last week raise our concerns about the degree to which Cohn&#39;s advice to Trump is good for Wall Street, but bad for Americans,&quot; the senators wrote on Thursday.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">&quot;Goldman Sachs would be a major beneficiary of these efforts to deregulate the financial industry,&quot; they added in the letter.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Trump also named former Goldman partner Steven Mnuchin as his pick for Treasury secretary in December.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">The senators have asked for any communication between the bank&#39;s employees and Cohn, Mnuchin, nominee for the SEC chair Jay Clayton and chief strategist Steve Bannon.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:8px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Source&nbsp;http:\/\/www.reuters.com\/article\/us-goldman-sachs-senators-idUSKBN15P2KI<\/span><\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/politics\/senators-question-goldman-sachs-on-its-role-in-trump-banking-policy.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Senators question Goldman Sachs on its role in Trump banking policy Senators question Goldman Sachs on its role in Trump banking policy:- Two U.S. senators are seeking details from Goldman Sachs Group Inc&#39;s (GS.N) chief executive on the extent to which the bank&#39;s employees were involved in drafting of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[13542],"class_list":["post-21885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-senators-question-goldman-sachs-on-its-role-in-trump-banking-policy"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/21885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=21885"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/21885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/21892"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=21885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=21885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=21885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}