Since many on Wall Street had opposed Roosevelt in the 1932 presidential election, Weinberg stood out as a prime candidate for the new president's liaison to Wall Street. Indeed, in 1933, Roosevelt assigned Weinberg the task of organizing a group of corporate executives- called the Business Advisory and Planning Council – to serve as a bridge between the government and the private sector during the economic upheaval of the New Deal.
As a result, Weinberg emerged as a key figure in connecting Roosevelt to Wall Street's influential voices. In 1933, Roosevelt designated Weinberg to spearhead the creation of the Business Advisory and Planning Council, a group of high-ranking corporate executives that would act as a liaison between the government and private sector during the tumultuous period of the New Deal.