The World’s Most Valuable Booby Prize?

Goldman Sachs is becoming the revolving door of choice for high-powered Republicans with a talent for politics and money. Sign

Goldman Sachs (GS) is becoming the revolving door of choice for high-powered Republicans with a talent for politics and money.

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Deputy Secretary of State Robert Zoellick, Condi’s number two at the State Department, is leaving the Bush Administration to join the Wall Street giant as a managing director and as vice chairman of its international division. His announcement comes less than a month after Bush tapped the firm’s chairman and CEO, Henry Paulson, to be the new Secretary of the Treasury.

Mr. Zoellick hasn’t said why he decided to step down from his State Department post, but word on the street (or at least in the newspapers) is that he had been jockeying for the Treasury Secretary job before Bush gave it to Paulson. Now he is heading to Paulson’s old firm.

It’s like Trading Places for the insider set.

— Lizzy Ratner

The World’s Most Valuable Booby Prize?