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Goldman Sachs ramps up Lobbying efforts
Posted by: ferfux ()
Date: April 28, 2010 11:00PM

But now, faced with fraud charges, investigations, a firestorm of criticism and a regulatory overhaul bill that could seriously damage its profitability, the venerable Wall Street firm is assembling a team of veteran lobbyists, well-connected former Hill staffers and top public relations strategists to confront what is arguably the most traumatic moment in its 140-year history.

Over the past two years, as it emerged from the financial crisis with a reinforced image as Wall Street's top bank but also the No. 1 target of public ire, Goldman has built up a 12-person government affairs office in Washington to help the firm get its message to legislators and regulators.

The team has gotten down in the trenches with the other large banks, meeting multiple times in recent months with members of key House and Senate committees working on the regulatory overhaul. Earlier this month, for example, Goldman sent executives from New York to Washington, where they accompanied the firm's lobbyists to a meeting with the staff of Sen. Blanche Lincoln (D-Ark.), chairman of the Senate Agricultural Committee and author of a proposal that would force banks to spin off their lucrative derivatives-trading desks.

http://www.washingtonpost.com/wp-dyn/content/article/2010/04/28/AR2010042805753.html?hpid%3Dtopnews⊂=AR



Edited 1 time(s). Last edit at 04/28/2010 11:02PM by ferfux.

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Re: Goldman Sachs ramps up Lobbying efforts
Posted by: Registered Voter ()
Date: April 29, 2010 01:27AM

Some reason you can't keep this in one thread?

If you can’t model the past, where you know the answer pretty well, how can you model the future? - William Happer Cyrus Fogg Brackett Professor of Physics Princeton University

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Re: Goldman Sachs ramps up Lobbying efforts
Posted by: ferfux ()
Date: April 29, 2010 07:29AM

its two entirely different topics. before GS was in trouble they had barely any lobbysists at all. NOW they have a bunch of former politicos with big time connections heavily lobbying congress.

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