While we have previously looked at Goldman Sachs (GS) as a proxy for the entire realm of alternative investments maybe it is time to think of the firm more as a farm team for the federal government? The case of newly appointed Treasury Secretary Henry Paulson has elicited some interesting commentary.
Daniel Gross at Slate.com looks at why Goldman, and not other high-profile firms on Wall Street, serves as a source for top governmental posts. Apparently these really rich executives have been well-served by Goldman's management structure prior to its public offering. In addition these wealthy individuals have had the good fortune to work at a firm that does not have much to do with the retail investors and the complications that ensue.
Ray Hennessey at SmartMoney.com looks at the complications implicit in the Paulson nomination. According to the piece Paulson is inextricably linked to the Grasso-NYSE pay scandal story that has yet to be adjudicated. While Paulson may be easily confirmed this story remains lying in the weeds.
DealBook has accumulated a number of links to Paulson stories. The main theme of which is whether Paulson can serve as a better salesman for Bushonommics than did John Snow? While speculation surrounds Paulson's motives for taking the job it still remains a plum career capper.