Putting a new spin on an old sobriquet, the Securities and Exchange Commission announced charges against Goldman Sachs and a former vice president at the firm for making undisclosed contributions to the gubernatorial campaign of a former Massachusetts state treasurer.
Goldman—sometimes referred to as “Government Sachs” because former executives (Bob Rubin, Josh Bolten, Hank Paulson … it goes back to Sidney Weinberg, doesn’t it?) have a habit of going to work in Washington—found itself in the SEC’s sights after a former Goldman vice president named Neil M.M. Morrison lent a hand to then Massachusetts Treasurer Timothy P. Cahill, who was running for governor.
According to the agency, Mr. Morrison was “substantially involved” in Mr. Cahill’s campaign from November 2008 to October 2010, during which period Goldman was involved in underwriting 30 debt offerings for the state: Read More