November 12, 2009

The Goldman Sachs Sabbatical


I, like most of my potential readership, am in the process of reading and enjoying Andrew Ross Sorkin's Too Big to Fail, the instant classic du jour. This caught my attention:
Though he [Robert Steel, former under secretary of the Treasury, domestic finance] always planned a triumphant return to the private sector, he wanted time to pursue public service, like many other Goldman alums.
Though folks are getting upset about things not changing fast enough if at all in the financial world, I will go out on a limb and venture that this practice of Goldman Sachs alums taking a sabbatical out of GS and into government will soon be history. I might be wrong and at some point in the (distant) future, GS's unpopularity may wane and having worked there won't be an insurmountable political handicap any more but the odds are quite low.

No comments: