Elizabeth Warren rips Trump’s picks of ‘Wall Street insiders’

In a letter to the President-elect dated November 15, the Massachusetts Democrat specifically noted three members of the Trump transition team with ties to Wall Street and “demonstrated records of failure during the 2008 financial crisis” whom she would find unacceptable for top positions: David Malpass, Paul Atkins and Steve Mnuchin.

Malpass, a former Bear Stearns chief economist, is working on shaping Trump’s Treasury Department, which Mnuchin is a leading candidate to lead. Atkins, a former Securities and Exchange Commission commissioner during the George W. Bush administration, is working to fill the ranks of financial regulatory agencies in the Trump administration.

Warren made similar comments at The Wall Street Journal’s CEO Council event in Washington, saying the involvement of corporate lobbyists and business leaders contradicted Trump’s campaign promises to shake up the Washington establishment.

Representatives for Trump and his transition operation didn’t respond to a request for comment.

Warren frequently sought to influence personnel matters during the Obama administration, with some notable successes. Her opposition to Antonio Weiss, tapped by President Barack Obama to be an undersecretary of the Treasury Department, ultimately scuttled his nomination. (Weiss took on the role of counsellor to the Treasury secretary instead.)

But with Republicans controlling Congress and the White House, it is doubtful Warren would be seeing similar success during the Trump administration.

Write to Gabriel T. Rubin at gabriel.rubin@wsj.com*

This article was published by The Wall Street Journal

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