That’s One Way To Do It

This is an interesting strategy to shrug off the “Government Sachs” moniker:

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.

Just a revolving door in DC.






26 replies
  1. 1
    mr. whipple says:

    Lanny Davis must be fuming. Beat to the GS trough.

  2. 2
    Paul W. says:

    This is just revenge for being pushed out by the Obama administration, his inner angels are just letting his dark side rule for however long a few million lasts in terms of billable hours.

  3. 3
    Face says:

    What does a lawyer charge such a obviously disgustingly rich organization? $5K/hr? $10K/hr? Do they have the balls to go $20K/hr?

  4. 4
    mai naem says:

    Anybody remember the guy who worked in the WH and went to lobby in the Senate and we were told that there was nothing that the WH could do because it was only the WH lobbying they could control. Ofcourse with Craig they are going to say he’s not lobbying, he’s working as a lawyer. Whatevah… I can already hear McConnell, Corker et al ‘Whatever happened to the most ethical administration blah blah blah…

    Also too, kind of OT but not really, do the Republicans consider the FDIC a bailout fund? I want to see Dem candidates asking that of Repub candidates. Scott Brown needs to be asked that. Meg Whitman needs to be asked that. I am sure those IndyMac customers don’t consider the FDIC a bankers bailout fund.

  5. 5
    mai naem says:

    @Face: Being that GS made more than 15 mil. off just pushing the paperwork I think the lawyers will get much more than 15 mil whatever that ends up working out per hour.

  6. 6
    rootless-e says:

    But but but, Marcy Wheeler explained that Craig was a mountain of integrity who was attacked by Rabid Dog Rahm

    http://emptywheel.firedoglake......-campaign/

  7. 7
    beltane says:

    Didn’t Chelsea Clinton marry into a Goldman Sachs family?

    Expect the media to be supportive of the vampire squid in its time of need. Most A-list journalists are firmly entrenched in the ruling class, and limit their social contacts to this crowd. Lobbyists, politicians, journalists and investment bankers are a tight-knit circle that eat, drink and fornicate with each other. We are doomed.

  8. 8
    homerhk says:

    First, if Craig now works for a private law firm (which he does apparently), it’s not up to the White House or the administration to prevent him from doing work (unless of course there is a material conflict of interest) for anyone.

    Second, weren’t all the FDLers bemoaning Craig’s departure from the Obama administration since he was the only honest man there? GG did a whole screed about how Bob Bauer was the ultimate beltway insider, I seem to recall. Do you think he’ll do a mea culpa about this (even tho, to me it’s no big deal)?

  9. 9
    ericvsthem says:

    @rootless-e: Was thinking the same thing. It will be interesting to see how the “Show Me on the Doll Where Rahm Touched You” kids are going to reconcile their defense of Craig’s integrity while he was WH General Council with his new gig as Satan’s embassador.

  10. 10
    Michael says:

    OT, but here’s a little sumpin’ sumpin’ for voyeurs who may want to watch Frank Gaffney blow Ed Meese.

    Here’s a taste:

    http://canadafreepress.com/index.php/article/22172

    There is arguably no more influential conservative in America today than former Reagan Attorney General Edwin Meese. To paraphrase an old marketing slogan, when Ed Meese talks, people listen. Rarely has such attention been more warranted than now, as President Obama prepares to select a new Supreme Court nominee whose views on national security and the law may have enormous bearing on the prospects for our victory in this War for the Free World.
    ,,,
    After all, as Gen. Meese observed in a major policy address before an American Bar Association audience last Thursday: “In four major cases, the Supreme Court has involved itself in the conduct of this war in what has been a change in terms of the constitutional history and the traditions of the country.”

  11. 11
    John PM says:

    I must have misunderstood. GS needs help navigating the halls of power? What, did the thousands of former (and future) GS employees in the federal government suddenly resign?

    The most I have ever heard of a lawyer charging per hour is $1,000, which would be a bargain to GS. Lawyers working for these companies need to start charging GS prices.

  12. 12
    kay says:

    @ericvsthem:

    I have another question.
    How did the fact that Holder hired 9 of the lawyers who did excellent defense work on behalf of detainees, at great political risk, ever square with the “Holder is a passive tool of RahmBama” theme?
    Holder hired them. In addition, those 9 lawyers went to work voluntarily for Eric Holder at Justice, and the pay isn’t great.
    How did that fact manage to get cordoned off from the Holder Narrative?
    It’s not like we didn’t discuss the former defense lawyers who went to work at Justice. How does that fact square with the rest?

  13. 13
    rootless-e says:

    @ericvsthem:

    Obvious: Rahm got to him.

    Rahm pinned a struggling Craig to the operating room table in the Fannie Mae office while Timmy pounded a Goldman Sachs controller module into Craig’s head using Rahm’s dick as the hammer while Craig piteously cried out for Jane and Grover to save him.

  14. 14

    Yet Yahoo News tells us these bloated ticks made $3.3 billion in 1Q.

  15. 15
    Comrade Mary says:

    Rahm pinned a struggling Craig to the operating room table in the Fannie Mae office while Timmy pounded a Goldman Sachs controller module into Craig’s head using Rahm’s dick as the hammer while Craig piteously cried out for Jane and Grover to save him.

    So if Rahm is The Hammer, is Craig Dr. Horrible or is he Penny?

  16. 16

    Oligarchy.

    We are probably stuck with this for my lifetime.

  17. 17
    Toni says:

    @ericvsthem: They will just ignore that because it doesn’t fit their narrative.

  18. 18
    demo woman says:

    A friend just called and her credit card was declined. She called the bank and was told that a donation to Barack Obama caused a fraud alert. This is the second time it happened to her in the last two weeks. Has anyone else had a problem with their credit cards being flagged after liberal donations?

  19. 19
  20. 20
    kay says:

    @demo woman:

    I don’t know, but I just had an acquaintance in here who successfully negotiated a mortgage modification, all by herself, and kept her house. She brought me the notice of dismissal of the foreclosure action because she didn’t know what it was, and she said “is this some Obama thing?”

    I was tempted to tell her “Yes. Barack Obama did that”.

  21. 21
    ThatLeftTurnInABQ says:

    @rootless-e:

    Rahm pinned a struggling Craig to the operating room table in the Fannie Mae office while Timmy pounded a Goldman Sachs controller module into Craig’s head using Rahm’s dick as the hammer while Craig piteously cried out for Jane and Grover to save him.

    Coming to theaters near you, June 2011. Check your local listings for showtimes and special offers…

  22. 22
    Nick says:

    I notice not a peep about this from the crazies at FDL.

  23. 23
    Brian J says:

    This doesn’t bother me that much, because it’s not a regulatory position where he will be making and/or enforcing the rules. Yes, he worked in the White House, but he wasn’t at a government agency. There’s a big difference, I imagine.

    On the other hand, this bothers me a lot more:

    At the center of the story is Spencer Barasch, the chief of enforcement at the SEC’s Fort Worth office, who declined to pursue Stanford multiple times, only to later jump ship to become a partner at a big private law firm where he proceeded to represent none other than ‘Sir’ Allen Stanford.

    How anyone can excuse this is beyond me.

  24. 24
    bob h says:

    No matter who GS hires, and no matter how brilliantly they execute their legal strategy, the problem is that their actions simply do not pass the smell test with ordinary Americans. GS should have settled out of court with no admission of guilt when they had the option.

  25. 25
    Comrade Dread says:

    What? I’m sure they’re only hiring him for his great legal mind and not at all for his Washington connections and friendships that a less ethical person would exploit for political favor and gain.

    Because free market capitalists would never think of trying to turn the government to their advantage. Your baseless suspicions that we’d even do something so ‘soshalist’ is going to drive us out of the United States over to Galtavania.

    Or it would, if anyone in Galtavania knew how to pave roads, build houses, install a sewage system, or farm.

  26. 26
    ricky says:

    Skadden, Arps, Slate, Meagher & Flom

    Where I live there is a practicing urlogist named Dick Chopp.
    But this is the funniest name I have seen in some time.

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