How Private Funds Could Hurt Americans Under Trump [The New York Times]
Goldman Sachs Group, Inc. (The) (GS)
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Source: The New York Times
Over the past few years, financiers who manage almost $30 trillion in private equity, hedge and venture capital funds have shed their reluctance to exert political influence. Steven Mnuchin brought hedge fund experience to hisroleGlenn YoungkinMr. Trump’s family, fund-raisers and financial lieutenants are more likely to be fund managers than any prior presidency, including his first term. Vice President-elect JD Vance and Donald Trump Jr. have been or have become venture capitalists. The president-elect has alsotappedThe investment portfolios and civic institutions these managers govern could hold a clue to what they may likely do: concentrate ever more control over our financial system into substantially less regulated, less transparent capital markets dominated by firms and financiers about whom Americans know very little.If he becomes secretary, Mr. Bessent will be the second nominee to move from managing hedge funds to leading the Treasury Department. Previously, the role was more
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