Biden Faces a Balancing Act in Choosing Top Aides With Business Ties

📆 2020/12/02 07:30:00
📰 YahooNews

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WASHINGTON -- Five years ago, Jeffrey D. Zients was the head of the Obama administration's National Economic Council, working to push across the finish line a federal rule that would prevent financial advisers from taking advantage of retirees. He won praise from progressives for fending off fierce resistance from Wall Street and fighting for consumer protections.These days, Zients is a co-chairman of President-elect Joe Biden's transition team who is being watched warily by members of the Democratic Party's left wing. Progressive advocacy groups such as the Revolving Door Project and Justice Democrats, concerned he would defend corporate America if given a top economic policy job in the Biden administration, pushed to keep him out of such a role. They view his recent work running an investment fund -- Cranemere -- and sitting on the board of Facebook as a detriment.The preemptive resistance to Zients (pronounced ZYE-ents) from the left is the latest indication of how the Democratic Party has shifted in the dozen years since former President Barack Obama took office amid the financial crisis. Now, business and finance experience can turn otherwise qualified White House candidates into pariahs for progressives.Sign up for The Morning newsletter from the New York TimesZients, 54, has emerged as an important power center in the Biden transition team and was mentioned as a possible candidate to once again lead the National Economic Council or head the Office of Management and Budget, a role he held in an acting capacity during the Obama administration. With those jobs set to be filled by others, Zients is the front-runner, according to people familiar with the transition team's plans, to be the Biden administration's COVID czar, steering the government's response to the coronavirus pandemic.In a sign of the pushback to come, the Revolving Door Project has been urging Biden to keep corporate influence out of his administration and has compiled a 13-page document about Zi

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He has no innate balance, he's a career politician who's always been for sale

here's a thought: 🧢

He’ll choose more Wall Street people. We all know it.

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Source: BusinessInsider - 🏆 729. / 51 Read more »