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- U.S. Regulators, Lawmakers Support Volcker Rule Revamp at Hearing
- Morgan Stanley Opts for Frankfurt as New EU Hub
- A New Risk for Goldman, Morgan Stanley in Stress Tests (subsc reqd)
- A Trump Bump for Law Firm of President’s Lawyer - Kasowitz Benson Torres
- JPMorgan, BofA, Goldman, Citi, Wells Fargo Pass Fed's Stress Test
- Blackstone Stock Still Trading at $31 - Its IPO Price From 10 Years Ago
- NJ Resident and NY-Based Global FX Club Charged with Solicitation Fraud, Misappropriation - CFTC
- Senate Republicans Release Plan to Replace Obamacare - The Details
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- Inside Nomura: Day in the Life of a Junior Banker
- Inside Travis Kalanick’s Resignation as Uber’s C.E.O.
- Creative Planning, KS Investment Firm, Spurring Change on Wall Street
- SEC Obtains Judgment Against Attorney Who Defrauded Escrow Clients
- SEC Files Fraud Charges Against Stock Promoters in Market Manipulation Scheme
- Power Lunches and Dinners in New York, London, Washington
- Banks to Cut $1.2Bn in Research Spending, Analyst Jobs - McKinsey
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NEWSLETTERS & ALERTS
Donald Trump & Co.
An 'OOPS' Moment for Cohn, Trump's Director of Nat'l Economic Council
[Photo: by Bloomberg News, appearing in businesstimes.com]
As 2nd in command at Goldman Sachs, Gary Cohn rarely spoke out of turn and rarely was second-guessed for something he said.
But on Friday, after the Bureau of Labor Statistics announced that the U.S. had added 235,000 jobs in February, Cohn told CNBC interviewers that the Trump administration was not the reason for the better-than-expected numbers. After all, none of the jobs promised by CEO’s in their meetings with Trump had been created.
“Those hirings have not been done yet. Those are future hirings.”
Problem for Mr. Cohn was that his comments did not conform to the “Company Line,” which can be illustrated in tweets by President Trump and Chief of Staff Reince Priebus :
“GREAT AGAIN: +235,000.” - - Trump Tweet.
.@POTUS Trump delivers in first #JobsReport. 235,000 new jobs and unemployment rate down to 4.7%. Great news for American workers! - - Priebus Tweet.
Gary Cohn apparently needs to escalate his learning curve. Then again, it can be difficult to teach an old dog new tricks.