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Sunday, June 07, 2009

Ex-SEC Chairman to Advise Goldman Sachs; Whats Wrong With This Picture?
Posted by Melina | 10:14 AM

In another slide from what Matt Taibbi calls "protocapitalist buddhism: the endless life-cycle," Goldman Sachs announced this week that ex-SEC chairman, Arthur Levitt was being hired as advisor on public policy issues, whatever that is; according to a press release by Goldman Sachs, it has something to do with “strategic advice to the firm on a range of matters.” OK. He is also a senior adviser to the Carlyle Group; enough said.

If there is no conflict of interest in this cluster-fuck that we call the financial services industry, then I don't know what planet I'm on anymore. It' getting very hard to keep track of the reshuffling going on in the ashes of the crash, but this should be illegal. These guys just keep turning up like some sorta bad pennies.

I couldn't say it better than Matt, but, honestly, it is completely, utterly,unbelievable that Goldman Sachs is hiring the very guy who oversaw the Financial Services Modernization Act and the Commodity Futures Modernization Act. Since he is responsible for teaching me the gory details of this via his must-read, Rolling Stone article, which I had to go-over, like, 3 times before I found myself mindlessly spewing the information to my son in the car, I'll have to refer you over to him for the ramifications of our leadership and our society not looking hard at where these guys are landing...of course, it could be that this suits the leadership just fine. As the man said then, "we're officially, royally fucked," ....Still.

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4 Comments:
Blogger Suzan said...
Why, "Still?"

What does it take to wake folks up?

You know we are "officially, royally fucked," and that the people who orchestrated this clusterfuck have been rewarded by the Obama administration and the other non-overseers of the public trust.

Goldman Sachs has been called Government Sachs so many times lately that I've lost count of how many bloggers have supposed they are one and the same.

At the taxpayers' ongoing bailout/expense. (As planned originally.)

The floggings will continue until this is confronted and cured.

But that will take some courage on the part of the somnabulant US populace, won't it?

S

P.S. I wrote about this already (many, many times).

Matt rules.

Anonymous Anonymous said...
A couple years ago Roubini listed all the top dogs at these Wall Street firms. One name kept popping up: Goldman Sachs. Their acolytes are everywhere. That one company has completely wrecked our financial system, and thereby our entire economy.

Blogger Batocchio said...
Taibbi's been very sharp on this. And the nickname "Government Sachs" is all too true.

Anonymous Anonymous said...
I don't see the big deal.

Nothing could be less novel than former officials seeking high-paid private sector jobs.