Blackstone’s Schwarzman Describes Pressure to Disband Trump Advisory Groups

9/13/17

Billionaire investor Stephen Schwarzman said he understood the decision to disband the business advisory groups but said he was not personally “outraged” by President Trump’s reaction to a rally organized by white nationalists.

Earlier at the CNBC Institutional Investor Delivering Alpha Conference, U.S. Treasury Secretary Steven Mnuchin said “I personally think it was a mistake that the councils were disbanded.”

Schwarzman, speaking several hours after Mnuchin, made his first public comments on the issue since the CEO councils broke apart last month after violence in Charlottesville that left one woman dead. He said corporate chiefs faced “astonishing” pressure after Trump blamed both sides for the violence, and there was no appetite to keep the group going.

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