Friday, October 16, 2009

Fox Guarding the Chicken Coop

In more disheartening than noteworthy news, a high ranking Goldman-Sachs executive has been hired as director of the enforcement division of the Security and Exchanges Commission. Goldman Sachs execs have been holding the Treasury Department Secretary position for this administration and the last, and widely occupy high ranking government positions.

It is not like we really lost anything, because the SEC has done nothing of substance during the entirety of the mortgage debacle, and has never been in danger of protecting the public or making a real difference, but it feels like rubbing salt in an open wound.

UPDATE [4/16/10]: Now that Goldman-Sachs has been charged with securities fraud, some more detail and an updated live link is warranted. The person in question was 29 year-old Adam Storch, who was appointed as chief operations officer of the enforcement division of SEC, who reports to director Robert Khuzami.

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