Among Hillary Clinton's alleged sins were close ties with Goldman Sachs. So it's ironic that the Wall Street firm has been the biggest corporate winner of Donald Trump's many cabinet appointments. Jay Clayton, a Goldman go-to attorney, was tapped Wednesday to head the Securities and Exchange Commission. If the President-elect means what he says about deregulating the money business, it's hard to imagine a better choice.
Clayton's employer, Sullivan & Cromwell, is virtually the house legal arm of Goldman. The firm ranked a clear first as legal advisor on deals that Goldman was involved in between 2006 and 2016, working on $2.9 trillion of global M&A deals as well as $152 billion of debt and equity issues on which Goldman was the sole bookrunner, according to Thomson Reuters data. Among those deals he worked on Alibaba's record $25 billion IPO in 2014.