Donald Trump announced his Economic Advisory Council and it contains 3 times more men named Steve than it does economics experts or people with doctorates. Despite Trump’s populist litany throughout the campaign, he has filled his advisory council with billionaires, hedge fund managers and big time Trump donors.
Many of these men are exactly the type of Wall Street executives and hedge fund billionaires that Donald Trump has maligned to his base of the white middle class. Only one, Peter Navarro, has a doctorate in economics. Two never finished college. Six are named Steve. Zero are women.
But five of these men were big time donors to the Trump Campaign. As Trump blasts “Crooked Hillary” for being beholden to her Wall Street backers, he appoints a panel of his own Wall Street backers and rich donors to his economic advisory council. Steve Mnuchin, Trump’s finance advisor, gave Trump $425,000. Stephen Feinberg, CEO of Cerberus Capital Management, and his wife combined to give almost $700,000. Howard Lorber, CEO of Vector Group, gave $100,000. Tom Barrack, founder of Colony Capital, gave $399,000. Andy Beal, of CLG Hedge Fund, gave $449,000. Yes, those companies are hedge funds and investment firms.
“I am pleased that we have such a formidable group of experienced and talented individuals that will work with me to implement real solutions for the economic issues facing our country,” Trump told his supporters yesterday of his council whose median income is north of $100 million.
Last year on CBS’s Face The Nation he told a bit of a different story. “The hedge fund guys didn’t build this country. These are guys that shift paper around. And they get lucky,” Trump said. “Look, they’re energetic. They’re very smart. But a lot of them, it’s, like, they’re paper pushers. They make a fortune. They pay no tax. It’s ridiculous, okay?”
It is ridiculous, Mr. Trump.
Meet Donald Trump’s Economic Advisors