Nope. Nothing to see here ...
It's just a mere coincidence that the following list of Goldman Sachs employees went on to work in the White House and U.S. Treasury. These people are simply the "best and brightest" (who had no idea of a pending financial crash, yet novices were sounding the alarms).
No crime here ... Just our humble "public servants."
Dianna Farrell:
Obama Administration: Deputy Director, National Economic Council
Former Goldman Sachs Title: Financial Analyst
Stephen Friedman:
Obama Administration: Chairman, President’s Foreign Intelligence Advisory Board
Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005-)
Gary Gensler:
Obama Administration: Commissioner, Commodity Futures Trading Commission
Former Goldman Sachs Title: Partner and Co-head of Finance
Robert Hormats:
Obama Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department
Former Goldman Sachs Title: Vice Chairman, Goldman Sachs Group
Philip Murphy:
Obama Administration: Ambassador to Germany
Former Goldman Sachs Title: Head of Goldman Sachs, Frankfurt
Mark Patterson:
Obama Administration: Chief of Staff to Treasury Secretary, Timothy Geitner
Former Goldman Sachs Title: Lobbyist 2005-2008; Vice President for Government Relations
John Thain:
Obama Administration: Advisor to Treasury Secretary, Timothy Geitner
Former Goldman Sachs Title: President and Chief Operating Officer (1999-2003)
Henry Paulson:
Bush II Administration: Secretary, Treasury 2006 - 2009
Former Goldman Sachs Title: Chairman and CEO (1998-2006)
Neel Kashkari:
Bush II Administration: Assistant Secretary for Financial Stability, Treasury (2008 – 2009)
Former Goldman Sachs Title: Vice President, San Francisco; led Information Technology Security Investment Banking Practice
Reuben Jeffery III:
Bush II Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department (2007 –2009)
Former Goldman Sachs Title: Managing Partner Paris until 2002 Security Investment Banking Practice
Robert Steel:
Bush II Administration: Under Secretary for Domestic Finance, Treasury, (2006 – 2008)
Former Goldman Sachs Title: Vice Chairman – 2004
Steve Shafran:
Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008
Former Goldman Sachs Title: Private equity business in Asia until 2000
Edward C. Forst:
Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008
Former Goldman Sachs Title: Co-head of Goldman’s investment management business
Dan Jester:
Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008
Former Goldman Sachs Title: Deputy CFO
Kendrick R. Wilson III:
Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008
Former Goldman Sachs Title: Chairman of Goldman’s financial institutions groups
Joshua Bolten:
Bush II Administration: White House Chief of Staff (2006 – 2009)
Former Goldman Sachs Title: Executive Director, Legal & Government Affairs (1994-99)
Gary Gensler:
Bush II Administration: Undersecretary, Treasury (1999-2001) and Assistant Secretary, Treasury (1997-1999)
Former Goldman Sachs Title: Partner and Co-head of Finance
Robert Rubin:
Bush II Administration: Secretary, Treasury 1995-1999
Former Goldman Sachs Title: Vice Chairman (1987-90)
Robert Zoellick:
Bush II Administration: United States Trade Representative (2001-2005), Deputy Secretary of State (2005-2006), World Bank President (2007 -)
Former Goldman Sachs Title: Vice Chairman, International (2006-07)
William C Dudley:
NY Federal Reserve: Current President/CEO
Former Goldman Sachs Title: Partner and managing director – 2007
Stephen Friedman:
NY Federal Reserve: Former Chairman of the Board – 2009
Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005-)
Other Noteworthy Appointees:
Edward Liddy:
Current Title: AIG CEO
Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005-)
Duncan Niederauer:
Current Title: Chair/CEO NYSE
Former Goldman Sachs Title: Managing Director – 2007
Malcolm Turnbull:
Current Title: Federal Leader, Liberal Party, Australia
Former Goldman Sachs Title: Partner (1998-2001)
Mark Carney:
Current Title: Governor, Bank of Canada
Former Goldman Sachs Title: Managing Director Goldman Sachs Canada until 2003
David Watson:
Current Title: Monetary Policy Committee, Bank of England
Former Goldman Sachs Title: Chief European economist
Romano Prodi:
Current Title: Prime Minister of Italy (1996-1998 and 2006-2008) and President of the European Commission (1999-2004)
Former Goldman Sachs Title: Paid adviser/consultant 1990 – 1993
Mario Draghi:
Current Title: Governor of the Bank of Italy (2006- )
Former Goldman Sachs Title: European Deputy Chairman/Partner until 2006
Massimo Tononi:
Current Title: Italian Deputy Treasury Chief (2006-2008)
Former Goldman Sachs Title: Partner 2004 - 2006
More Info:
[...] Goldman-Sachs Connections, Donations Haunt White House. And how about as of October 25th the 29 Goldman-Sachs executives that are now in the Obama Administration? How do you explain that Hank? Tell me again how the Republicans are benefiting by this. Stupid [...]
[...] Goldman-Sachs Connections, Donations Haunt White House. And how about as of October 25th the 29 Goldman-Sachs executives that are now in the Obama Administration? How do you explain that Hank? Tell me again how the Republicans are benefiting by this. Stupid [...]
[...] in the Obama Administration – just as there were in the Bush and Clinton Administrations. See here. (Note that at least 2 listed to Bush were Clinton employees, based on years of [...]
Hey look at all those Bush II appointees. Why it’s almost twice as many as the Obama appointees. Classic liberals—only getting half as much evil talent as the conservatives. Thanks for the list.
Compare apples and apples. Bush II is eight years worth of GS guys. Obama has only been President for 16 months. Give him time. GS has a symbiotic relationship with government. The difference is that Obama is lambasting GS, Bush never did. That’s what makes Obama a hypocrite.
Based on their listed years of service Gensler & Rubin (Robert) appear to have been Clintons’ appointees not BushII.
You’re right! I’ll double check my dates. Rubin did work in the Clinton admin.
It pays to have low friends in high places.
Sure does.
Thanks for doing this. I’ve been saying “somebody oughta” for months. It took the CL to do it. Good job!
Nice list. I’m betting none of them had their salaries cut by 90 percent.
Pay cut? These people are raking in millions!