(Cross-posted from The Free Speech Zone)
Government allegations that financial giant Goldman Sachs defrauded investors are creating a political storm, with some lawmakers hoping that the civil lawsuit filed Friday by the Securities and Exchange Commission is just the beginning.
As the heat increases on the investment bank, which has denied all wrongdoing, Politico reports that they have hired Greg Craig for legal help. Craig formerly worked as the top lawyer for President Barack Obama and left the White House earlier this year to join the law firm Skadden, Arps.
The executive order Obama signed the day after he was inaugurated bars high-level executive branch appointees who leave the administration, like Craig, from communicating with their former employers. That executive order also prohibits such officials from lobbying the federal government during the remainder of the Obama administration.
The Politico article notes that since the SEC is an independent government agency, it would not coordinate with the White House on enforcement matters, such as the pending lawsuit targeting Goldman Sachs.
The article goes on to quote a source familiar with Goldman Sachs as saying Craig was hired for his ability to give advice and his “deep understanding of the legal process and the world of Washington.”
The U.S. government is not the only authority interested in further probing Goldman Sachs.
The British and German government have also raised the possibility of investigations. And on Capitol Hill, Democrats in the House and Senate are calling for more answers.
Of all the articles I read on this, this Capital Eye Blog article has to be the best one.
Well, the one that gave me the biggest fucking hard-on in my life that is…..