Goldman Sachs taps ex-W.H. counsel Greg Graig to lead defense

[Perky]

Oh my God. I guess getting shown the door pissed Greggy Poo off a little bit.... That's ok/ You service to any future US President and your usefulness as a Democrat just ended.

http://www.politico.com/news/stories/0410/36056.html

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.

“He is clearly an attorney of eminence and has a deep understanding of the legal process and the world of Washington,” the source said. “And those are important worlds for everybody in finance right now.”

They’re particularly important for Goldman.

On Friday, the SEC charged the firm with securities fraud in a convoluted subprime mortgage deal that took place before the collapse of the housing market. Next week, Goldman Sachs CEO Lloyd Blankfein will face questions from the Senate Permanent Subcommittee on Investigations, which is looking into the causes of the housing meltdown, the source said.

In Craig, Goldman Sachs will have help from a lawyer with deep connections in Democratic circles.

Craig served as White House counsel during the first year of Obama’s presidency, but is seen as having been pushed out for his role in advocating a strict timeline for the closing of the U.S. detention facility at Guantanamo Bay. His departure frustrated many liberal Obama supporters who saw Craig as a strong advocate for undoing some of what they saw as the worst excesses of the Bush era.

But the source familiar with Goldman’s operations said Craig wasn’t hired just because he’s well-connected.

“It’s about advice and process,” the source said. “People will always leap to the conclusion that it’s about somebody’s Rolodex.”

Skadden declined to comment on Craig’s role with Goldman.



Read more: http://www.politico.com/news/stories/0410/36056.html#ixzz0lb80lw5n

[BootinUp]

1. sorta like how he turned on the Clintons,

hey its the truth! ;)

[PopSixSquish]

2. Once is a Mistake, Twice is a Coincidence...

[amandabeech]

3. Skadden is scum.

Craig should've stayed the hell away from those assholes.