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.
Weinberg's appointment by Roosevelt in 1933 was significant because it enabled him to connect Wall Street's influential voices with the new administration. To achieve this goal, Weinberg created the Business Advisory and Planning Council, a coalition of top corporate executives that would serve as a liaison between government and private sector during the tumultuous period of the New Deal.