As The Atlantic reported in 2019, Trump considered handing his daughter responsibility for the world’s leading source of financial aid to developing countries – he was perhaps even very enthusiastic. With nearly $ 100 billion in loan commitments this year alone, the World Bank is a world leader in the fight against poverty. Apparently, the former president thought it was a good mission for his elder. He was prevented from naming her by the intervention of Steve Mnuchin, who was then Secretary of the Treasury, according to The Intercept.
In 2019, Ivanka Trump was a 37-year-old female with a bachelor’s degree who, except for a brief stint at a rival real estate company, never worked for anyone other than herself or her father. That record included, of course, her loosely defined job as a White House assistant – the role that led her to become her father’s seat warmer at the reunion of the world’s 20 greatest economic powers.
Earlier that year, World Bank President Jim Yong Kim surprised Washington by announcing his resignation. Former President of Dartmouth College, Kim is a Harvard-trained anthropologist and physician who founded a nonprofit global healthcare organization. He had been in the bank since 2012. Only James Wolfensohn, Eugene R. Black and Robert McNamara, a giant historical figure who had been the US Secretary of Defense to President Kennedy and Johnson, served in office any longer.
As was reported at the time of Kim’s resignation, President Trump immediately considered his daughter for the nomination. Heidi Cruz, wife of Senator Ted Cruz, was also in contention. She had real credentials, including relevant experience in the National Security Council and the Treasury Department. If he had chosen Cruz or his daughter, Trump would have been tasked with appointing the first woman to be president of the World Bank.
Trump said in 2019 that his daughter would be a good fit for the bank “because she’s very good with numbers.” Ivanka Trump said she dropped the job because she was “happy with the job” she was doing. Her main job at the time seemed to be the promotion of women entrepreneurs. Its flagship project, a women’s empowerment program, was so poorly managed that the Government Accountability Office could not even assess its performance.
Another president could strike a candidate off a list of nominations if she had run a program that defied assessment. However, his Smoke and Mirrors performance was comparable over the Trump family. For decades, outsiders trying to assess the state of Trump’s business ventures have been faced with an impossible task. The upside for Trump was that it allowed him to say pretty much anything he wanted about his business acumen and wealth – even if his companies went bankrupt after bankruptcy. More recently, Trump was dropped from Forbes’ list of the 400 richest Americans. Forbes estimates his fortune at $ 2.5 billion. Number one on the list is Jeff Bezos with $ 201 billion, which the former president has repeatedly attacked.
As president, Trump could make up for his ego-murderous decline in wealth by wielding presidential power. He did so by granting graces and commutations to friends such as Steve Bannon and Paul Manafort, who both worked in his 2016 campaign, and installed so many sycophants in high office, Washington Monthly said that ‘he had’ brought together the worst cabinet in history. “
Given his record, people around Trump must have responded to his thoughts of Ivanka for the World Bank with real seriousness. “It was incredibly close to happening,” a source told The Intercept. Mnuchin, aware that the whole world was watching, would have dissuaded Trump from his push – although Ivanka still helped Mnuchin and White House Chief of Staff Mick Mulvaney select David Malpass, another controversial figure, for the presidency of the World Bank.
Mnuchin is also credited with persuading Trump to make a conventional choice by appointing the head of the Federal Reserve and getting him to sign the pandemic relief bill called the CARES Act, which has helped America to fight against Covid-19 and support its economic impact.
That Mnuchin must have put so much effort into persuading Trump to do the right things and blocking his instinct to do terrible things is everything we know about the 45th President. From the start to the end of his tenure, chaos emanates from the White House. Although many hoped that I could “pivot” to normalcy, he never stopped making fun of his desk.
With his goal now set on a return to power in 2024, it’s no surprise that we’re getting new details on how bad things are the first time around. As they tell us how bad it really was, insiders are doing their best to warn of a return there.