April 23, 2017

Billionaire heads toward confirmation as Commerce secretary

01 March 2017, 12:36 | Clarence Schmidt

Pablo Martinez Monsivais AP


Billionaire investor Wilbur Ross was confirmed as the U.S. commerce secretary on Monday after receiving unanimous approval in the Senate.

"He plans to keep making money from one of his major oil shipping companies while working as Commerce Secretary", Warren said. Ross's confirmation arrived just in time for upcoming fights between Congress and the Trump administration regarding the budget, taxes, Obamacare, and trade.

Ross is notorious for buying failing companies, slashing jobs and selling them off.

In an ethics agreement released before his confirmation hearing, Mr Ross said he will resign his positions with 38 entities.

Wilbur Ross, left, is sworn in to be commerce secretary by Vice-President Mike Pence as Ross's wife Hilary Geary Ross holds a bible on Tuesday.

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President Donald Trump, who once denounced the "FDA Food Police" and vowed to gut food safety protections as a way of stopping "inspection overkill", apparently is absolutely fine with inspecting food that comes from a foreign country.

"Mr. Ross has extensive ties to Russian Federation". Ross pledged in a letter to Democrat Senator Bill Nelson not to censor or intimidate scientists who work at NOAA, the agency housed within the Commerce Department that controls the National Weather Service and conducts research.

A group of Democrats wrote to the White House asking whether any members of the Trump administration had received recent loans from the Bank of Cyprus - which is partly owned by a close of ally of Russian President Vladimir Putin, Ukranian billionaire Viktor Vekselberg.

Ross, 79, has indicated he will step down from the Bank of Cyprus after he takes office, according to reports.

"I believe him in what he has told me, that it is true to his belief", Senator Nelson said in a speech on the Senate floor.

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