Biden faced a balancing act in picking top partners with Business Ties

Later in Mr. Obama’s second term, Mr. Ziers headed the National Economic Council, where he upheld new regulations that were meant to tighten money transactions and accelerate the development of the so-called fidayeen regime Dia – a requirement that financial professionals employed for their own interests. Retirement customers with their own accounts. The Department of Labor rule, which was strongly challenged by the financial services and insurance industries, was Hit down By a federal appeals court in 2018.

Those efforts earned him acclaim from some progressive Democrats.

“The government needs talent and experience,” said Denise Kellehar, president of Better Markets, which promotes Wall Street reform, and is a member of Mr. Biden’s transition review team for the Fed, banking and securities regulators. “People who are going to try to complicate an industry in the form of finance cannot say that we are only going to hire people who don’t know anything about finance.”

But his role as a bridge in business during the Obama administration has raised some eyebrows. When the financial crisis was still at its peak on Wall Street in 2007–8, Mr. Ziers was one of the administration’s main contacts for officers and lobbyists. Top lobbyists, such as Business Lobbytable and the US Chamber of Commerce, have praised Mr. Ziers, who listens to him.

Speaking of his desire to listen to business leaders, Mr. Zintes told officials at an event at the 2014 Economic Club of Washington, “You are the customers, all of you as business leaders, in terms of a growing economy.” In.”

After Mr. Obama stepped down, Mr. Zients joined private equity investor Vincent Mae’s Cranmere Fund as chief executive. The private holding company has investors from the United States, Europe, Latin America, and the Middle East, and Warren E. Buffett envisions a long-term investment in the mold.

Mr. Zammer, who is on leave from Cranmeyer, also spent two years on Facebook’s board and was a member of the company’s audit committee. He has told people that he had Concern about the direction of the company And Governance, and opted not to re-elect for the board this year. Facebook has opened fire to allow Democrats to spread dissolution, and against those accusing Republicans of censorship.

Jeff Hauser, director of the Revolving Door Project, said Mr. Ziers’ personal equity and experience working on Facebook was particularly problematic and that it could cause trouble for progressive causes in a Biden White House. While he sees Mr. Ziers’ experience in the health care industry as useful for managing the response to the epidemic, Mr. Hauser said he was worried that Mr. Ziers might be too favorable for the business because the vaccines could be rolled out next year is.

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