President Donald Trump, at a campaign rally in Iowa on Wednesday, defended his appointment of several billionaires to his Cabinet and senior posts.
Trump told the crowd on Wednesday night: “Somebody said: ‘why did you appoint a rich person to be in charge of the economy?’ I said because that’s the kind of thinking we want, you know really, because they’re representing the country. They don’t want the money. They’re representing the country. And they had to give up a lot to take these jobs. They gave up a lot. And I love all people, rich or poor, but in those particular positions I just don’t want a poor person. Does that make sense?”
“If you insist, I’ll do it, but I like it better this way.”
But Trump was signing a different tune on Wednesday. “When you get the President of Goldman Sachs, this is the President of Goldman Sachs! Smart! Having him represent us, he went from massive paydays to peanuts, to little tiny peanuts,” Trump said. “I’m waiting for them to accuse him of wanting that little amount of money.”
As far as “giving up a lot” to take the job, Cohn walked away from Goldman Sachs in January with a $285 million payout. According to financial disclosure forms, Cohn’s net worth is at least $600 million. That’s hardly peanuts. Trump has the richest Cabinet in history with a combined net worth of at least $13 billion.
Not surprisingly, Trump avoided any mention of the numerous scandals plaguing his administration, save for one brief reference to the “witch hunt,” which is what he uses to describe the inquiries into his campaign’s ties to Russia.
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James Kosur is the former Editor-In-Chief and co-founder of Hill Reporter. He recently served as an editor for Business Insider and various other publications. James and his partners sold Hill Reporter to a new owner in July 2019.