What All That Money Just Bought Goldman…


Interesting article in the Washington Post – Goldman just gave it’s lobbying team an injection of steroids…  a dream team of insiders:

As head of its government affairs office, Goldman has installed Michael Paese, a former top aide on the House Financial Services Committee to Chairman Barney Frank (D-Mass.) and more recently an industry lobbyist. (Frank has barred Paese from lobbying his panel for two years, longer than what ethics rules require.)

Paese’s team includes Faryar Shirzad, a top adviser to President George W. Bush on economic affairs; Eric Edwards, a former staff director of a House Financial Services subcommittee; Joyce Brayboy, who worked for Rep. Mel Watt (D-N.C.); Joe Wall, aide to former vice president Dick Cheney on legislative matters; Kenneth Connolly, formerly with the Senate’s environment and public works committee; Michael Thompson, who worked for Sen. Mike Enzi (R-Wyo.).

The bank also has in place an external roster of high-powered lobbyists, including Richard Gephardt, the former Democratic House majority leader; his former aide Stephen Elmendorf, now of Elmendorf Strategies; Kenneth Duberstein, who served as Ronald Reagan’s chief of staff; Harold Ford Jr., a former representative from Tennessee; and Richard Roberts, a former SEC commissioner who has also served as the top aide to Richard Shelby, the ranking Republican on the Senate banking committee.

This is how that whole revolving door thing works…  and why we can’t let the money on Wall Street define this debate.