Donald Trump assailed Wall Street on the campaign trail, andfrequently criticized his political opponents for their ties toGoldman Sachs Group Inc. Now Trump is relying on a lawyer who hasspent his career representing financial firms, and has his ownclose ties to Goldman, to lead Wall Street's top regulator.
Trump will nominate Sullivan & Cromwell partner Jay Claytonto run the Securities and Exchange Commission, thepresident-elect's transition team said in a statement Wednesday.Clayton's clients represent a virtual who's who of industry titans,including hedge funds, private equity firms and Goldman, where hiswife has worked for almost two decades.
Still, Trump's advisers said Clayton will provide “strongoversight” of financial firms while helping do away with policiesthat have stifled job growth.
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