A popular expression that arose during the 2016 presidential campaign was "Drain the Swamp" -- it meant get rid of the career politicians in Washington and the people who ensured the political system protects the same interests as always. #Donald Trump adopted the motto, which makes his choice of former Goldman Sachs executive #Steven Mnuchin as #Treasury Secretary a curious move.
Meet the new treasury secretary
Steven Mnuchin previously served as an executive and banker at Goldman Sachs, an institution that has been under fire since the economic recession nearly a decade ago. Mnuchin has a long history on Wall Street, which works against the populist notions president-elect Trump has been promoting since the start of his campaign. Nevertheless, Mnuchin served as the campaign finance chairman of Trump's campaign.
In 2004, Mnuchin and some former colleagues at Goldman Sachs created a hedge fund that eventually struck a film-financing deal with 21st Century Fox; the hedge fund helped finance blockbuster films such as "Avatar." Since then, his financial career has been marked with setbacks and controversy.
Mnuchin became the campaign finance chair for president-elect Trump in May. He orchestrated a joint fundraising agreement with the Republican National Committee, which is also chaired by a former Goldman Sachs employee.
This isn't the first time Trump has put a firm loyalist to him in a Cabinet position -- major Republican donor Betsy DeVos was named education secretary recently. In addition, there is likely a Cabinet position waiting for campaign leader Kellyanne Conway, and Trump already picked former Breitbart editor-in-chief Steve Bannon as his chief adviser.
The real question is whether or not his next selection will be a loyalist or a former opponent in the most essential unfilled position: Secretary of State. The two leading candidates are fierce loyalist Rudy Giuliani and former Republican presidential candidate Mitt Romney, who was a leading opponent within the party to Trump's nomination.