Trump’s Chief Economic Advisor Resigns

US Wants Inter-Korean Thaw Undermined
March 7, 2018
New Israeli Ethnic Cleansing Law
March 7, 2018

Trump’s Chief Economic Advisor Resigns

by Stephen Lendman ( – Home – Stephen Lendman)

On Tuesday, Trump’s National Economic Council director Gary Cohn announced his resignation.

Reportedly it’s over the president intending to impose tariffs on steel and aluminum imports, discussed in a previous article.

Cohn is a Goldman Sachs alum, appointed its president, co-CEO and director in June 2006.

The company is notorious for making money the old-fashioned way – by fraud, grand theft, market manipulation, scamming investors, bribing politicians, having its executives in top administration posts, and getting open-ended low or no interest rate bailouts when needed.

Its business model and culture assure billions of bonus dollars for company officials, complicit traders, and others on the take.

The firm is a crime family like other major Wall Street predators.
Its grand theft continues unabated, none of its top officials ever fined, prosecuted and imprisoned. Current chairman and CEO Lloyd Blankfein earlier called its operations “doing God’s work.”

As National Economic Council director, Cohn was a key architect of Trump infrastructure privatization scheme to let corporate predators buy public assets cheap.

According to the Securities and Exchange Commission, Goldman Sachs hopes to profit hugely from the scheme, Cohn representing the firm in the White House.

He and fellow Goldman alum Treasury Secretary Steve Mnuchin played key roles in drafting the great GOP tax cut heist, benefitting corporate predators and super-rich individuals like themselves, Trump and congressional millionaires – at the expense of most Americans.

The NYT took full advantage of Cohn’s resignation to continue its daily anti-Trump onslaught, calling the former Goldman boss one of “the sensible adults in the room,” ignoring his dark side, saying:

“(F)or all his flaws (relating to his policy initiatives discussed above, he) represents the high-water mark for economic thinking in this administration” – perhaps for America’s privileged class alone at the expense of most others.

He’s expected to stay on for some weeks before leaving. The Times called him a “free-trade-oriented Democrat.”

US trade with other nations is profoundly unfair for ordinary Americans.

Millions of workers lost jobs because of destructive NAFTA and other bilateral trade deals.

Millions more suffer from neoliberal harshness – in part, related to trade policy and offshoring high-paid industrial and other jobs to low-wage countries.

According to the Times, Trump’s announcement on steel and aluminum tariffs “was the most immediate catalyst for Mr. Cohn’s departure, according to people familiar with his thinking,” adding:

“Possibilities he has considered for a next step…include opening up his own investment firm or, according to two people familiar with his thinking, a more senior job in the Trump administration.”

Names and faces change in all US administrations, Cohn the latest figure to move on, surely not the last.

VISIT MY NEW WEB SITE: (Home – Stephen Lendman). Contact at

My newest book as editor and contributor is titled “Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III.”

Stephen Lendman
Stephen Lendman
Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a BA from Harvard University. Two years of US Army service followed, then an MBA from the Wharton School at the University of Pennsylvania in 1960. After working seven years as a marketing research analyst, he joined the Lendman Group family business in 1967. He remained there until retiring at year end 1999. Writing on major world and national issues began in summer 2005. In early 2007, radio hosting followed. Lendman now hosts the Progressive Radio News Hour on the Progressive Radio Network three times weekly. Distinguished guests are featured. Listen live or archived. Major world and national issues are discussed. Lendman is a 2008 Project Censored winner and 2011 Mexican Journalists Club international journalism award recipient.