Reprinted with permission from The American Prospect.
Throughout his presidential campaign, Donald Trump criticized Wall Street bankers for their excessive political influence and attacked hedge-fund managers for getting away with “murder” under the current tax code. “The hedge-fund guys didn’t build this country,” Trump said on Face the Nation. “These are guys that shift paper around and they get lucky.”
Now, however, Trump has tapped Steve Mnuchin, a 53-year-old Wall Street hedge-fund and banking mogul—and, since May, his campaign-finance chair—to be the nation’s secretary of the Treasury.
Trump’s earlier rhetoric aside, it’s actually a good match. Both Trump and Mnuchin earned their first fortunes the old fashion way: They inherited them.…