Wow. Goldman Sachs is playing for keeps here. They just hired Greg Craig, yes the ex-WH counsel (who was supposedly terminated due to GTMO) to defend itself from the SEC.
Goldman hires Greg Craig against SEC
I don't know what this is going to do for financial reform but I'm of two minds now. I'm not that upset about Greg Craig being fired and I think this may be an explosive case that Goldman decided to hire Greg Craig for this kind of thing.
Further, as Greg Craig has been a member of the WH staff, he cannot lobby the WH (as per the new rules the administration put in). What he can do is put his image there, and make it tough on democrats to oppose him (and Goldman).
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.
Whatever the reason for his hiring, Craig will presumably be a key player in the intricate counterattack Goldman Sachs officials in Washington and Manhattan improvised during the weekend — a plan that took clearer shape Monday as Britain and Germany announced that they might conduct their own investigations of the firm.
I mean this is going to be interesting to say the least.