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Friday, April 23, 2010

Goldman's White House connections raise eyebrows http://www.mcclatchydc.com/2010/04/21/92637/goldmans-connections-to-white.html#ixzz0lw3TPubO

Goldman Sach's connections to the Obama administration are raising eyebrows at a time when Washington and Wall Street are dueling over finance reform. While Goldman Sachs' lawyers negotiated with the Securities and Exchange Commission over civil fraud charges, White House logs show CEO Lloyd Blankfein traveled to Washington for at least two events with Barack Obama, who received $994,000 in campaign donations from Goldman employees.

He also met twice with Obama's top economic adviser, Larry Summers. Securities and Exchange Commission Chairwoman Mary Schapiro said Wednesday the SEC doesn't coordinate enforcement actions with the White House or other political bodies. Meanwhile, Goldman is retaining former Obama White House counsel Gregory Craig. In addition, when he worked as an investment banker in Chicago a decade ago, White House Chief of Staff Rahm Emanuel advised one client who also retained Goldman as an adviser on the same $8.2 billion deal.

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