The original headline on this was so good, I hardly wanted to change it
Goldman Sachs taps ex-White House counsel
.Obama may try to pose as populist by pushing a very tepid financial regulation and set some distance between himself and his financial backers, but it’ll take a lot of propaganda to get that sticky, sticky entanglement off.
For one, the “R” are for once armed with the truth
Republicans sought to tie President Barack Obama to Wall Street firm Goldman Sachs after it was hit with civil fraud charges.
House Minority Leader John Boehner (R-Ohio) released a statement after the Securities and Exchange Commission filed charges against the Wall Street titan, calling the firm a “key supporter” of the president’s bid to reform the nation’s financial regulatory system.
Furthermore, the sinking Goldman Sachs is determined to pull his protegee with him. Hence hiring Obama’s reject counsel, Greg Craig. You might remember him as the one fired because he made Obama look bad by putting a deadline to the promise to close Guantanamo
His departure frustrated many liberal Obama supporters who saw Craig as a strong advocate for undoing some of what they saw as the worst excesses of the Bush era.
help in navigate the halls of power in Washington, a source familiar with the firm toldIn Craig, Goldman Sachs will have help from a lawyer with deep connections in Democratic circles.
But the source familiar with Goldman’s operations said Craig wasn’t hired just because he’s well-connected.
Craig wasn’t hired just because he’s well-connected.
“A former White House employee cannot appear before any unit of the Executive Office of the President on behalf of any client for 2 years—one year under federal law and another year under the pledge pursuant to the January 2009 ethics E0,” said a White House official.
The official also said that the White House had no contact with the SEC on the Goldman Sachs case. “The SEC by law is an independent agency that does not coordinate with the White House any part of their enforcement actions.”
Would this ever have happened under the administration of a corporate tool? No. No it wouldn’t.
And think for a moment about the TIMING of this. As we go into the debate over financial regulation.
(Heloooo? Bush? Enron?).
Goldman’s White House connections raise eyebrows
WASHINGTON — While Goldman Sachs’ lawyers negotiated with the Securities and Exchange Commission over potentially explosive civil fraud charges, Goldman’s chief executive visited the White House at least four times.
White House logs show that Chief Executive Lloyd Blankfein traveled to Washington for at least two events with President Barack Obama, whose 2008 presidential campaign received $994,795 in donations from Goldman’s political action committee, its employees and their relatives. He also met twice with Obama’s top economic adviser, Larry Summers.
This list was compiled by Mother Jones before the SEC suit.
some picks (only the Goldman Sachs bankers)
CURRENT ROLE IN WASHINGTON
PREVIOUS ROLE ON WALL STREET
Treasury secretary’s chief of staff
Goldman Sachs lobbyist
Counselor to the treasury secretary
Made nearly $900,000 advising Goldman Sachs
Acting assistant treasury secretary for financial markets
Foreign exchange dealer at Goldman Sachs
Managing executive of the SEC’s Division of Enforcement
VP of Goldman Sachs’ Business Intelligence Group
Chairman of Commodity Futures Trading Commission
18 years at Goldman Sachs, where he made partner