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    What a Matt Gaetz Justice Department Would Mean for Business

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    The Trump loyalist supports an “aggressive” antitrust approach and has called for breaking up Big Tech. But can the controversial nominee win Senate approval?Matt Gaetz may be Donald Trump’s most surprising and contentious pick yet to join his cabinet.Mike Blake/ReutersA “disrupter” for the Justice DepartmentMatt Gaetz is known for his outspoken defenses of Donald Trump, numerous scandals and a House ethics investigation. He can now add another distinction: being the president-elect’s pick to be nominee for attorney general.It isn’t clear whether Gaetz, perhaps the most divisive of Trump’s cabinet choices so far, will get Senate confirmation. But if he does, he could keep corporate America on its toes.Trump and his allies see the position of attorney general as especially important, given the president-elect’s numerous legal woes.The Times reports that Trump weighed more traditional candidates, including Jay Clayton, who was S.E.C. chair in his first administration, and Bob Giuffra, a co-chair of the white-shoe law firm Sullivan & Cromwell. But he ultimately chose a loyalist who supported efforts to overturn the results of the 2020 election.Gaetz “is a disrupter,” said Representative Chip Roy, Republican of Texas, praising Trump’s selection. Gaetz, who resigned from his position as representative of Florida last night, repeatedly challenged Republican leaders, picked fights with Democrats and pulled off stunts like trying to barge into the secure chambers for the House Intelligence Committee.Will he go after Trump’s perceived enemies, including in business? In his announcement on social media, Trump said that Gaetz would “dismantle Criminal Organizations” as part of a mission to bring “desperately needed reform at the Department of Justice.” On X, Elon Musk wrote that “the Hammer of Justice is coming.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Howard Lutnick Is Scouting Trump’s Nominees. Some Will Oversee His Interests.

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      Howard Lutnick, co-chair of the president-elect’s transition team and a Wall Street financier, is leading the search for appointees while still running his businesses.The financier Howard Lutnick has been given a high-profile assignment from President-elect Donald J. Trump, one that raises questions about the Wall Street executive’s dual role and what he might gain from it.As co-chair of the transition team, Mr. Lutnick is in charge of identifying 4,000 new hires to fill the second Trump administration, including antitrust officials, securities lawyers and national security advisers who have global expertise.But Mr. Lutnick has not stepped away from running financial firms that serve corporate clients, traders, cryptocurrency platforms and real estate ventures around the world — all of which are regulated by the same agencies whose appointees he is helping to find.Given his sprawling business interests, it’s not known how Mr. Lutnick might keep from violating the transition’s own code of ethics, which echo federal conflict-of-interest guidelines for transition team members. The Trump transition guidelines say that individuals who work on the team must disqualify themselves from matters that may directly conflict with their own financial interests or those of an organization with which they do business.It is not clear whether Mr. Lutnick, who gained national attention when many of his employees died in the 2001 terrorist attack on the World Trade Center, has signed the code of ethics or whether he has recused himself from providing lists of possible nominees for any specific agencies that have oversight of his businesses.Mr. Lutnick declined an interview request from The New York Times. People who work with Mr. Lutnick say that he is careful about separating his private business from his transition work.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      A November Surprise That’s Jostling the Markets

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      The dollar, Treasury yields and crypto currencies have fallen, reversing some elements of the so-called Trump trade after an unexpected poll result. In the race’s final hours, a poll reminds the markets of the power of women voters.Caroline Gutman for The New York TimesDown to the wire Investors on Monday appear to be unwinding bets on the so-called Trump trade. In a major reversal, bonds have rallied and the dollar and crypto currencies have dipped in the race’s final hours.One explanation is a surprising new poll that showed Vice President Kamala Harris, powered in part by support from women and older voters, edging ahead in deep-red Iowa — a finding that’s also led to a tightening of Donald Trump’s lead in political prediction markets.Why the change of heart? The highly regarded Ann Selzer/Des Moines Register/Mediacom Iowa poll that was published on Saturday gave Harris a three-point advantage over Trump in the Hawkeye State, a Republican stronghold. “It’s hard for anybody to say they saw this coming,” Selzer said.Some urged caution about the poll. The Economist questioned whether the small sample size in Selzer’s poll made it a good predictor of what might happen in other states. And the Trump campaign pointed to another Iowa poll out this weekend that showed the former president with a 10-point lead over Harris.But Michael McDonald, a politics professor at the University of Florida who runs a vote-tracking site, pointed to similar dynamics in a recent Kansas poll.The Selzer poll has roiled the political betting markets. Following its publication, Trump’s odds of victory fell on platforms including Polymarket, after they had climbed in recent weeks, in tandem with crypto and other elements of the Trump trade.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More