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May 27, 2011

Revolving Door Watch: Former Sen. Judd Gregg to Goldman Sachs

Posted in: Uncategorized

I actually don’t understand the revolving door at some level. By the time politicians retire from office or lose an election, they’re almost always senior citizens. Most of them were independently wealthy before coming to Congress. Why wouldn’t they just ride out their salad days on some homestead, rather than on K Street or Wall Street?

But I guess that everyone has their price.

The Goldman Sachs Group, Inc. today announced that Judd Gregg, a former three-term U.S. Senator from New Hampshire has been named an international advisor to the firm. He joins a group of 17 international advisors and will provide strategic advice to the firm and its clients, and assist in business development initiatives across our global franchise.

“Judd Gregg’s experience and insight will contribute significantly to our firm and our continuing focus on supporting economic growth,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer of The Goldman Sachs Group, Inc.

Translation: when we need something done in Washington or around the world, we’ll send in Judd Gregg to talk to one of his buddies and get the job done for Goldman Sachs.

Judd Gregg, you may remember, is the guy who said that an audit of the Federal Reserve represented “pandering to populism.” I guess he’s just pandering to profit. And it’s crazy. He has a net worth of between $2.5 million and $9.2 million. He isn’t starving and he’s 64 years old. He’s just a guy who has to be in the game of screwing the poor and cheating people, I guess. And he picked the perfect company to sign up with for that.

Maybe the first thing Gregg can do is talk to his pals at the New York Fed and get them to stop investigating Goldman’s servicing unit. Surely that will make the world a better place.

Happy Memorial Day, Wall Street Judd!


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