Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Republican ex-Treasury chief Paulson slams Trump, to vote for Clinton

Published 06/24/2016, 08:38 PM
Updated 06/24/2016, 08:40 PM
© Reuters. Former Treasury Secretary Henry Paulson speaks at US-China Strategic and Economic Dialogue

WASHINGTON (Reuters) - Henry Paulson, a Republican who was U.S. Treasury secretary during the 2008 financial meltdown, on Friday called a Donald Trump presidency "unthinkable" and said he will vote for Democrat Hillary Clinton.

Paulson joins a growing list of establishment Republicans who say they will not cast a ballot in the Nov. 8 election for Trump, the party's presumptive nominee and a political neophyte whose populist rhetoric runs counter to many long-held Republican principles.

"When it comes to the presidency, I will not vote for Donald Trump," Paulson, who was chief executive of Goldman Sachs (NYSE:GS) before becoming Treasury chief under Republican President George W. Bush, wrote in an opinion piece in the Washington Post.

"I'll be voting for Hillary Clinton, with the hope that she can bring Americans together to do the things necessary to strengthen our economy, our environment and our place in the world," he said.

Paulson accused Trump, who has touted his business acumen as a real estate developer during his campaign, of taking "imprudent risk" and then disavowing his debts when ventures fail.

He also took aim at Trump's opposition to trade agreements, which Paulson said have created U.S. jobs and fostered innovation and competitiveness.

"Simply put, a Trump presidency is unthinkable," Paulson said.

The Trump campaign did not immediately respond to a request for comment.

Brent Scowcroft, a national security adviser to two Republican presidents, endorsed Clinton on Wednesday, and Richard Armitage, a deputy secretary of state under George W. Bush, said last week he would support her.

Paulson, who helped steer a $700 billion bailout of the financial system through Congress during the financial meltdown, said Trump is a "phony" who is unfit to be president.

© Reuters. Former Treasury Secretary Henry Paulson speaks at US-China Strategic and Economic Dialogue

"I can't help but think what would have happened if a divisive character such as Trump were president during the 2008 financial crisis, at a time when leadership, compromise and careful analysis were critical," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.