The Bankers on Obama's Team: "
GOLDMAN SACHS CEO turned Treasury Secretary Hank Paulson wasn't the first, or the last, to use the revolving door between Wall Street and Washington. Heres a short list of Obama officials who got their start in the private sector—many, like Paulson, at 'Government Sachs.'
OFFICIAL | CURRENT ROLE IN WASHINGTON | PREVIOUS ROLE ON WALL STREET |
Neal Wolin | Deputy secretary of the treasury (Tim Geithner's No. 2) | Exec at one of the largest insurance and investment firms |
Treasury secretary's chief of staff | Goldman Sachs lobbyist | |
Gene Sperling | Counselor to the treasury secretary | Made nearly $900,000 advising Goldman Sachs |
Obama's chief economic adviser | Made $5 million as managing director of a hedge fund | |
Rahm Emanuel | White House chief of staff | Made $16 million as a partner at a Chicago investment bank |
Herbert Allison | Assistant secretary of the treasury (oversees TARP) | Longtime exec at Merrill Lynch; headed Fannie Mae |
Kim Wallace | Assistant secretary of the treasury for legislative affairs | Managing director at Barclays Capital and Lehman Brothers |
Karthik Ramanathan | Acting assistant treasury secretary for financial markets | Foreign exchange dealer at Goldman Sachs |
Matthew Kabaker | Deputy assistant secretary of the treasury | Made $5.8 million at the Blackstone Group in 2008-2009 |
Lewis Alexander | Counselor to the treasury secretary | Chief economist at Citigroup; paid $2.4 million in 2008-2009 |
Adam Storch | Managing executive of the SEC's Division of Enforcement | VP of Goldman Sachs' Business Intelligence Group |
Lee Sachs | Counselor to the treasury secretary | Made more than $3 million at a New York hedge fund |
Gary Gensler | Chairman of Commodity Futures Trading Commission | 18 years at Goldman Sachs, where he made partner |
Michael Froman | Deputy assistant to Obama, deputy nat'l security adviser | Managing director of a Citigroup investment arm |
(Via MotherJones.com.)
