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Goldman gets ex-White House counsel

Goldman Sachs is launching an aggressive response to its political and legal challenges with an unlikely ally at its side — President Barack Obama’s former White House counsel, Gregory Craig.

The beleaguered Wall Street bank hired Craig — now in private practice at Skadden, Arps, Slate, Meagher & Flom — in recent weeks to help in navigate the halls of power in Washington, a source familiar with the firm told POLITICO.

“He is clearly an attorney of eminence and has a deep understanding of the legal process and the world of Washington,” the source said. “And those are important worlds for everybody in finance right now.”

They’re particularly important for Goldman.

Talk about a revolving door between Wall Street and Washington. If this weren’t true, it would be a joke. Has anyone picked up on this story?  I’m speechless (hat tip Marshall).

Source

Goldman Sachs taps ex-White House counsel – Politico

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.

9 Comments

  1. earnyermoney says:

    Looks like Mr. Craig has a score to settle with ORahmaRod.

    • Good observation, earnyermoney, but as we learned in “The Godfather”, there’s always a price to be paid, or a favour to be claimed, when you do a deal with the Mafia, especially if they’re successful in engineering a political hit on your behalf against Obama.