As Goldman Sachs’s long-suffering No 2., Cohn approached his board about his future. He didn’t get the answer he wanted. And then Jared Kushner swooped in. This is how Goldman Sachs took over the White House

By William D. Cohan  for Vanity Fair (& available in full online,) June 24

[....] That Trump would turn to Goldman Sachs to fill some of the most important positions in his fledgling administration is rich with irony. For years, Trump and Goldman practiced mutual disdain. Trump was the poster child of the kind of client that Goldman, which has always prided itself on superb risk management, warned its bankers to avoid. At least four of Trump’s hotel and casino businesses have ended up in bankruptcy court, costing creditors and shareholders billions of dollars in losses. For this reason and others, Goldman determined never to do business with Trump and conveyed that message to its new recruits. Sources at Goldman now deny he was unwelcome at the firm, but more than one former Goldman banker has told me that it’s true, and Goldman has never underwritten a single stock or bond offering for a Trump majority-owned business or real-estate project or lent him any money [....]