March 22, 2017
Upperville man nominated deputy treasury secretary
A Wall Street investment banker with a home in Northern Fauquier recently got nominated as Deputy Secretary of the Treasury of the United States.
James Donovan teaches courses in corporate strategy and team management as an adjunct professor at the U.Va. law school.
Announced by the White House last week, James Donovan’s appointment to the agency’s number-two position requires Senate confirmation.
Mr. Donovan, a Goldman Sachs partner and managing director, who owns a 71-acre farm near Upperville, couldn’t be reached for comment.
Calling Mr. Donovan “brilliant,” Upperville lawyer Mildred Fletcher Slater said her friend and client “will make a great deputy secretary of the treasury, and he will help correct our great country’s serious economic situation.”
The treasury department’s vast responsibilities include:
• Advising the president on economic and financial issues.
• Producing money.
• Revenue collection.
• Borrowing funds to operate the federal government.
President Donald J. Trump has said he wants to reform the tax code and eliminate regulations to spur the economy and help make American companies more competitive in the global market.
As deputy to Secretary Steven Mnuchin, Mr. Donovan, 50, would play a key role in helping to shape those and other policies.
An adjunct professor of the University of Virginia Law School in Charlottesville, Mr. Donovan teaches courses in corporate strategy and team management.
He earned a bachelor’s degree in chemical engineering and a master’s in business administration from the Massachusetts Institute of Technology in 1989. He got his law degree from Harvard in 1993.
A board member of the Foundation for the National Institutes of Health and the Dana-Farber Cancer Institute, Mr. Donovan for many years has supported medical research and cancer treatment and prevention.
To honor a friend who died of cancer, Mr. Donovan established a research fund with the Dana-Farber Cancer Institute.
Mr. Donovan and his wife, Christy, have two daughters and two sons. An active runner, he belongs to the Piedmont Fox Hounds hunt club.
Please, be polite. Avoid name-calling and profanity.
For credibility, sign your real name; stand behind your comments. Readers will give less credence to anonymous posts.
citizen observer · March 26, 2017 at 2:54 pm
Great to hear from you!
Obama and Hillary Clinton are both avowed Marxists. Their college writings years ago pretty much confirm that. The problem now is they thought they had their marxist new world order takeover pretty much in the bag, but didn't count on the hard working middle class America standing up. Their supporters are doing anything they can to prevent their progress from being undone.
I know all government spending is a form of socialism. You are correct we need local and state governments to provide schools, police, and fire departments. The Federal government needs to provide a military, interstate highways, air traffic control, and other things beyond the state level. Placing those in a private market would be dysfunctional at best.
What worries me is students are being taught that socialism results in all people becoming equal, and that market capitalism is evil because it creates rich barons. There are comments on here about Mr. Donavan being a rich Republican with a big house. I'd bet Pelosi, Reid, and Schumer don't live in small apartments. Even a devout socialist like Bernie Sanders has 3 houses. A true socialist society is great if you're in the rich ruling elite. Not so much if you're not. Ask the Venezuelans surviving off scraps from the ruling class's trash. Obvious our students aren't being taught the whole truth.
Communism and socialism is dropping as you say because it isn't functional over a long time and people tire of being repressed. During the Berlin Wall era: plenty were killed trying to sneak over to escape the poverty, but no was was shot trying to get in because it was better. Something else our youth weren't around for and probably not taught in their socialism studies.
You are so correct about New York City and LA. That's one reason we have an electoral college, or they would run our entire country. I mentioned China because I remember reading how much of our debt we owe them, and if they call it due we have nothing to back it with.
I'm not against the planes. It's just that in light of all things Americans want, this shouldn't have been a top priority for Obama to fund on his last day. At least it should have been done with a competitive bid to save taxpayers money. Personally I think we need to quit providing military support to any country that isn't reimbursing us.
Congress hasn't held anyone accountable for spending in the last 16 years. If I correctly recall; Obama didn't really even have an approved budget his first couple of years. The only thing Congress worries about is approving themselves pay raises. Ever had the chance to dine in the House dining room? I know those who have and wish they could dine in that 5 star restaurant when they want with their family, since they're helping pay for that lavish congressional lifestyle. People are worried about a President when Congress is the real problem. Time for a Convention of States to overhaul both houses.
Jim Griffin · March 26, 2017 at 1:10 pm
You cite Obama's "Wall Street banker cronies" but claim "Marxist leftists" have taken over the Democratic Party, saying it was taken over by "commies."
I am neither Democrat nor Republican, but I think you got it right the first time: The Democratic Party is run by bankers and lawyers, not the average people for whom they should speaking. The Democratic Party is empowered by donations, principally a million plus a pop, having turned away bundlers with stacks of half a million or so.
The origin of this sort of money is New York City and Los Angeles, not Beijing or Pyongyang.
As for those Kenyan planes, they make sense: Kenya is in a battle with Al Queda offshoot Al-Shabaab and the basic militarized crop duster is a powerful weapon for fighting a battle that is ill-suited for American soldiers or F-22 fighters. It's the right weapon for the fight, but it's not one we should own or staff.
Yes, we should fund Meals on Wheels and other needs, and they will get the money they require. It's a process, and you fail to acknowledge that government's purse strings are in the hands of Congress. For the past six years, a Republican Congress. If they don't approve the money, it cannot be spent. Congress decides, not the President (he can only make proposals and veto/sign enabling legislation.
Communism is giving way to market economies because people like to make money for their own account. China, Russia, wherever, the communists are disappearing. As for socialism, government handling necessities, we practice it here in Fauquier County and call it good government: Water, utility regulation, roads, schools, fire, police, airport, library, aquatic facility, and so on, including the purchase of development rights from private land owners.
I enjoy living here and think it works well, but let's not pretend it isn't socialism. If we left these things to the private market and shrunk the government to a fraction its size, we could remove the socialism tag, but it fits today. And it works.
citizen observer · March 26, 2017 at 10:41 am
I have been a middle of the road Democrat all my life but will not vote D again until they clean their leadership of the Marxist leftists, quit all their hypocrisy, and get back to what's good for the country and hard working people.
People forget total socialist countries still have the rich ruling elitist class, not everyone is equal. We sent so many good young people to Vietnam to stop the spread of communism. The commies figured out they couldn't beat us militarily, so they took over a political party to beat us from within. So sad. I'm not willing to give up my freedoms to communist China because we became so indebted to them.
The previous administration still doubled our national debt to $20 trillion while cutting our military back to pre-WWII levels and allowing our infrastructure to age with no repair. The military, interstate highways, and other things citizens and states can't provide individually are what the federal government was designed to provide.
How come there is no mention of Obama giving $471M worth of crop duster warplanes to Kenya on his last day in office; instead of assuring funding for Meals on Wheels, PBS, and other things Americans love? Turns out the company he gave the contract to has never built them. The company that does, owned by a disabled vet in NC, says his cost would have been $230M but there was no competitive bid for him to apply. I won't even get into all the money Obama gave Iran while their people were in the streets chanting "death to America". Or the trillion dollar bailout the taxpayers gave him for "shovel ready jobs" that was spent on bailing out his Wall Street bankster cronies and political allies instead of cleaning up ghettos and improving life for the residents.
I read people slamming Trump for going to Florida but how come there was nothing said at the time about Michelle Obama's expensive luxurious trips or refusing to fly on Air Force One at expensive taxpayer costs. The hypocrisy needs to end.
I voted for Obama but regret between him and Bush (don't have time to get into him inheriting a balanced budget and running it up by allowing Cheney to make a lot of money off of taxpayers) we wound up with 16 years of reckless spending and a country teetering on the brink of failure.
Cuts have to be made to get us back on track financially or this country will not survive. Once we get our debt down, good decisions to help PBS, Meals on Wheels, and valuable projects can be revisited.
Silii · March 24, 2017 at 11:14 am
BJ: Tuesday, June 13: Virginia primary elections. You need not be a member of a political party to vote in the primary but you must be registered to vote. Vote at the precinct location where you normally vote.
Tuesday, Nov. 7: BIG general election for Virginia state government: electing governor, lt gov, state attorney general, entire Virginia House of Delegates, school boards, some state Senate, some state executive offices. THIS IS A HUGE ELECTION FOR VIRGINIA. State government is more toxic and controlling of our everyday lives, public and private, than federal level.
Federal Congressional elections: November, 2018. First upcoming opportunity to vote for your member of Congress and Senators in Congress.
BJ · March 23, 2017 at 4:38 pm
Please stop the shell games and trickery. Next cycle elections can't get here soon enough, will vote for every Democrat on the ticket. How can this be happening? Well as Trump stated in his Time interview, "I'm President and you're not." In his head anything goes because he says so.
Silii · March 22, 2017 at 5:35 pm
Love the way Mildred says Donovan will help correct "our great country's serious economic situation." Yes, we can all see those fixes in the president's proposed budget and Donovan, yet another "drain the swamp" multi-millionaire appointed by Trump, will be able to help the richest and wealthiest grow their wealth and get even more tax breaks. Fauquier Now, you also need to research an article on how Fauquier County "poorer" folks will be affected if community grant funds (supporting meals on wheels, after school programs, etc.), Head Start/EPSDT, housing support funds, public school funds, medicaid cuts, dissolution of Planned Parenthood clinics... will affect those less fortunate than the Upperville crowd.Include the impact of drastically cutting funds for the Chesapeake Cleanup fund, and the impact on federal employees and contractors who might lose their jobs.
[redacted] · March 22, 2017 at 4:39 pm
STOP OBAMA THEFT of FANNIE & FREDDIE - Tell Treasury NOT TO MAKE net worth sweep on MARCH 31
Freedom warrior · March 22, 2017 at 4:22 pm
Drain the swa...ahhh well, so much for that.
mcm37 · March 22, 2017 at 4:03 pm
Goldman Sachs partner, Harvard Law grad, owns a 10,000 sq ft house on 71 acres...definitely sounds like someone who has the best interests of ordinary working people in mind.
Enter your email address above to begin receiving
news updates from FauquierNow.com via email.
Friday, July 3
Apple pie contest, “wave parade,” fireworks show and home decorating contest keep Independence Day tradition alive
Friday, July 3
John Marshall’s opinions, fireworks stands in Warrenton, new voters registered at vigil and bluebird boxes at Sky Meadows
More Fauquier news
Friday, July 3
Virginia has 658 new infections and 29 more fatalities, according to state health department