Apr 9, 2019

Scoop: Ex-Treasury official Eli Miller to join Blackstone

Steve Mnuchin (C) and Eli Miller (R). Photo by Chip Somodevilla/Getty Images.

Eli Miller, who resigned last Thursday as chief of staff to Treasury Secretary Steve Mnuchin, has agreed to join private equity giant The Blackstone Group to work on public policy, Axios has learned.

Why it matters: Miller was Mnuchin's closest adviser, and he is staying within the Trump orbit by joining an investment firm led by Trump adviser Steve Schwarzman.

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SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.