And the DC/Wall Street revolving door for members of the money party continues:
If you missed the announcement late last week that Goldman Sachs hired former Republican Sen. Judd Gregg to be an international advisor, don’t blame yourself.
It came out Friday when most people were thinking more about the long holiday weekend ahead than the latest effort by the investment bank to add to its stable of worthies an influential former Capitol Hill lawmaker.
Anyway, the former senator from New Hampshire who, as you’ll recall, turned down President Obama’s offer of the Commerce Secretary’s job, will join Goldman’s board of international advisors, nearly 20 former corporate chief executives and government officials.
Their role is to use their smarts, experience and connections to help Goldman make as much money for its shareholders and clients as possible and to avoid situations like one The Wall Street Journal recounts in which Goldman, through bad financial bets, lost 98 percent of the value of a 2008 $1.3 billion investment by Libya then tried to make it up to the Libyans by offering them a large ownership interest in Goldman.
No shame. I guess Goldman and Gregg have decided that he has effectively avoided any charges related to the Abramoff scandal, so now his “connections” will be useful.
Han's Solo
I could see hiring these ex-Republican Senator types to manage a douche bag factory, but that is about all I can see them being good for.
jeffreyw
Thread needs moar puppies.
Tonal Crow
But Bobo says that Judd Gregg is “serious” on the budget!
ChrisNYC
O/T but yay. Obama Admin. releases regs on for-profit “career college programs.” They need to show their graduates can get jobs paying enough to cover loan repayments or they don’t get federal aid.
http://www.ed.gov/news/press-releases/gainful-employment-regulations
Tonal Crow
@jeffreyw: Needs moar kitties, too!
Southern Beale
It came out Friday when most people were thinking more about … Rep. Anthony Weiner’s weiner and Palin’s pizza summit with Donald Trump!
Fixed your typo.
Trinity
@jeffreyw: Squeee!
Southern Beale
@ChrisNYC:
OMG our stupid wingnut governor just deregulated the for-profit education industry in Tennessee and now advertisements for online diploma mills are like the new viagra ads. You can’t turn the TV on and not hear how wonderful University of Phoenix … ITT Tech … etc. etc.
Meanwhile, the new regs are seen as a big win for the diploma factories:
I’m just glad I’m old and rapidly approaching retirement age. The value of my own degree, which my parents invested many thousands of dollars on, has just plummeted.
jeffreyw
@Tonal Crow:
I concur.
Southern Beale
@ChrisNYC:
Crap. My reply to you is awaiting moderation.
Dammit I just fucking give up.
srv
Obama throws Mother Nature under the bus.
beltane
These are the special freedoms the French hated us for when they gifted us the Statute of Liberty as a warning for us to stand in line and protect our exceptional freedoms. Why do you hate us for our freedoms?
joeyess
Libyans. As in the Libyans that we’re currently trying to depose? So NATO is now fighting Wall Street’s battles for them? Wow. Now that’s some fucking juice. Just when I thought it couldn’t get more corrupt I read something like this and I’m doused in a fresh, steaming bath of awe and amazement.
Tonal Crow
@jeffreyw: Mew!
Sentient Puddle
In other financial news, Moody’s is indicating that it’s ready to lose it’s shit over the debt ceiling fight.
They make some noise about there needing to be a “credible” deficit reduction package as well, but the main takeaway is that if the ceiling is raised, we still have the Aaa rating, which is what really matters.
Also, that stuff you’re hearing about August 2 being the deadline? A load of bullshit and chips for this reason:
If there’s any sanity left in government, this would be seen as lighting a fire under Congress’ ass. But of course, assuming sanity is not exactly a safe bet these days.
Thoughtful Black Co-Citizen
Fxd.
Allowing GOPers to manage a douche factor would result in regulations that require manufacturers to put microcameras in every batch so the government can monitor this country’s vajayjays for illegal activity.
Observer
You don’t have the moral high ground to bitch about Judd Gregg *now* if you weren’t outraged/annoyed/disappointed at the POTUS when he was nominated for Comm Sec.
AAA Bonds
Let’s be honest: it wouldn’t have been any more surprising if it had been his next move after Obama’s Cabinet.
AAA Bonds
@ChrisNYC:
Wow, imagine if that sort of standard were applied to law schools.