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Goldman Sachs, Adam Storch, and the SEC, is there no end to the gall and travesty?

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Published on Oct 16, 2009

The Stench of Truth 232 I want an investigation into Goldman Sachs and a renewed call to remove Geithner and prevention of Storch from taking the position at the SEC, in enforcement no less! Text of letter to congressman/senator follows:
October 16, 2009

Dear Senator Specter:

I was dumbfounded to see in the news today that a Goldman Sachs executive, Adam Storch (VP of Goldman Sachs Business Intelligence Group) was named by the SEC as the Chief Operating Officer for enforcement.
This is a complete TRAVESTY. Is it not bad enough that former Goldman Sachs employees have been so firmly entrenched in the Obama administration that there is no difference between government economic policy and Goldman Sachs policy?
Here is a list of people with ties to Goldman Sachs:

Bob Hormats
Under Secretary of State for Economic, Energy,...
Diana Farrell
Deputy director of Obama's National Economic...

Faryar Shirzad
Global Head of Government Affairs at Goldman...
Gary D Cohn

Gary Gensler
ex-Goldman Sachs executive, Chairman of Commodity...


James A Johnson
Vice Chair of Perseus and Goldman director;...
James C Langdon Jr
Senior Executive Partner at Akin Gump and Bush...
Jason Furman
Obama Campaign Economic Policy Director
John Whitehead
Banker and public official (ex-Goldman Sachs)
Jose Fourquet
Investor, Goldman Sachs & Co.
Karthik Ramanathan
Acting Assistant Secretary for Financial Markets
Larry Summers
Obama Administration - Director of the National...
Mark Patterson
Chief of Staff to Tim Geithner
Michael Froman
Obama adviser and former assistant to Robert...
Neel Kashkari
Treasury official in charge of TARP; former...
Pete Coneway
Investment Banker, Goldman Sachs & Co
Philip D Murphy
Ambassador to Germany-Designate
Reuben Jeffery III
Undersecretary of State for Economic, Energy, and...
Robert E Rubin
Former Treasury Secretary and senior advisor at...
Robert J Hurst

Robert K Steel
CEO of Wachovia; Under Secretary of Treasury...
Robert Zoellick
US Trade Representative and World Bank president...
Stephen Friedman
Chairman of Stone Point Capital; director of...
Tim Geithner
Current Treasury Secretary

I demand a Senate investigation into Goldman Sachs and the penetration of the Treasury department and the Federal Reserve by this private entity. Lehman Brothers, Goldman Sachs number one competitor was allowed to collapse in the banking failures even when GS reaped a government bailout at my and other taxpayers expense.
I demand that action be taken to prevent Adam Storch from taking the position as COO of enforcement at the SEC, and to systematically remove Goldman Sachs connected people from positions in the government that compromise the integrity of the job as well as give unfair advantage to a private company.
It has been shown that Timothy Geithners spent more time in communication with the head of Goldman Sachs than he did any other person including Congresspersons while ostensibly doing his job of managing the economy of the US. During this same period it has been shown that Goldman Sachs and officials affiliated with the firm have profited handsomely in markets which have not been as good to other banks and financial institutions.
It is time to pry Goldman Sachs influence out of US economic policy. Investigate Goldman Sachs. Prevent Adam Storch from taking the post as COO of enforcement at the SEC and take action to REMOVE Timothy Geithner as Treasury Secretary because his actions in that position have the appearance of corruption and conflict of interest.

Sincerely:

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