by Robert Bryce at Robert Bryce Substack
It has long been accepted practice in Washington that plum spots in presidential administrations are given to key supporters from selected sectors and influential Wall Street firms. The most obvious example is the revolving door between Goldman Sachs and the Treasury Department.
Steve Mnuchin, a Goldman alum, was Treasury secretary during Donald Trump’s first term. Four other Goldman execs also snagged top spots in the first Trump administration. Two Goldman executives — Robert Rubin and Larry Summers — served as Treasury secretaries under President Bill Clinton. Hank Paulson Jr., another Goldman alum, was Treasury secretary under George W. Bush.
Interior is reserved for a Westerner. Current Interior Secretary Deb Haaland is from New Mexico. Her predecessor, David Bernhardt, was from Colorado. His predecessor, Ryan Zinke, was from Montana. Ag Secretary goes to someone in the farm sector, and better yet, from Iowa. That’s why Tom Vilsack, the current Ag Secretary, and former governor of Iowa, has served in that job twice.
Energy-sector expertise has never been a prerequisite for the Secretary of Energy. At least, it hasn’t been until now…