March 6, 2017

Progressives take on Trump's SEC pick

Washington Post - A coalition of progressive groups plans to announce Monday a campaign to derail President Trump’s nomination of Jay Clayton to lead the Securities and Exchange Commission, targeting Clayton’s close connections to Wall Street.

The campaign, which organizers say will include a six-figure digital advertising buy, comes amid broader efforts by Democrats to highlight Trump’s choice of financial industry insiders for key administration positions despite his anti-Wall Street rhetoric as a Republican presidential candidate.

As chairman of the SEC, Clayton would help police many of the same large banks he has spent decades representing as a lawyer, including Goldman Sachs and Barclays. The position requires Senate confirmation, but past nominees typically have not sparked much controversy.

[Trump is turning to Wall Street for top jobs. Democrats hope to use that against him.]

“Expecting us to believe that Clayton, Wall Street’s lawyer, will adequately police some of the very banks he has represented is an insult to the American people’s intelligence,” said Jeff Weaver, president of Our Revolution, a group that grew out of the presidential campaign of Sen. Bernie Sanders (I-Vt.). “We refuse to stand by as this administration continues to rig the system against the working families of this country.”

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