Thursday, May 28, 2015

The Goldman Sach's Crony Revolving Door Spins Once Again

Andrew J. "Buddy" Donohue will return to the Securities and Exchange Commission as the chief of staff for SEC Chair Mary Jo White.

Donohue is currently a managing director at Goldman Sachs Group Inc.

This is not Donohue's spin through the crony revolving door.

He previously served as director of the SEC's Investment Management Division from May 2006 through November 2010.

He has also worked at Morgan Lewis & Bockius LLP, as well as Merrill Lynch Investment Managers and OppenheimerFunds Inc, the investment fund subsidiary of Massachusetts Mutual Life Insurance Company.

In a statement, White said Donohue will be deeply involved in helping the SEC write rules to protect Goldman Sachs create a uniform fiduciary standard for retail brokers and investment advisers.

To bring full circle to the revolving door cronyism, Donohue was also a member of the board of The Mutual Fund Directors Forum.


1 comment:

  1. Hastert Resigns from CME for Paying to Make His Bad Behavior Go Away

    Hastert served on CME Group’s Board since 2008 He’s also on the board of Rex American Resources Group. Consider what Rex’s latest proxy statement said about Hastert:

    Mr. Hastert is currently also a director of CME Group, Inc., a derivatives marketplace that includes the Chicago Merchantile Exchange (CME), Board of Trade of the City of Chicago (CBOT), New York Merchantile Exchange (NYMEX) and Commodity Exchange (COMEX). Mr. Hastert is Chairman of the Compensation Committee and serves on the Governance, Nominating and Strategic Steering Committees of CME Group. Mr. Hastert’s prior government service, government leadership roles and experience in commodities markets will assist the Board and management in governmental and regulatory matters affecting our business.

    I’ll venture Dennis Hastert treated someone like a commodity and that’s why he secretly agreed to pay $3.5 million. It seems fitting that a key leader of a major financial institution would be so ethically tainted. The apple is the tree.

    imagine what might “go away” for a little bling?…