Thursday, November 13, 2008

Lazard Rising

Goldman Sachs may have company in running government as a private fiefdom. It appears that former Lazard Freres employees are edging in under the Obama regime.

The latest signal comes from Obama in his announcement yesterday of his transition team. He has put Josh Gotbaum, a Clinton administration veteran and long-time investment banker at Lazard Frere, in charge of reviewing the Treasury.

Lazard has been cutting crony capitalism deals even before Paulson got out of diapers. Their last peak in influence came when Felix "The Fixer" Rohatyn "saved New York City" and ruled the roost at Lazard.

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