President Trump has announced that Wall Street financier Anthony Scaramucci will be White House communications director, forcing the immediate resignation of press secretary Sean Spicer and revealing deep rifts between "Wall Street" and "Beltway" administration factions.
Trump had left the role open since Mike Dubke resigned in May, forcing Spicer to cover both desks while the President vented frequently to his friends about the performance of his press operation.
The Scaramucci appointment apparently came as a surprise to Chief of Staff Reince Priebus, who found out after the plans had already been made.
Spicer, a longtime by-the-book political operative initially brought in by Priebus, reportedly called the decision "a major mistake."
"Mooch," as he's known to friends, is a major Republican donor who supported Trump during the general election campaign — after fundraising during the primaries for Scott Walker and Jeb Bush.
Scaramucci recently sold his stake in his hedge fund, SkyBridge Capital, but was left stranded after an initially planned job in the White House didn't materialize.
Since few hedge fund managers take personal responsibility for spreading their talking points, relying instead on specialized PR resources, Scaramucci's ability to promote the White House message remains to be seen.
Nonetheless, he has had plenty of success arguing his take on the markets and the industry, lobbying -- for example -- against the Labor Department's fiduciary regulations and other drags on market efficiency. He frequently appears on Fox News and is a longtime friend of Sean Hannity.
Scaramucci and Spicer have yet to comment.
