More Goldman Sachs Alumni to Oversee Wall Street

By Lee Fang and cross-posted from The Intercept

AFTER USING GOLDMAN Sachs as a punching bag for his campaign, sharplycriticizing his political opponents for ties to the investment bank, Donald Trump has taken unprecedented steps to appoint former Goldman Sachs attorneys and executives to the upper echelons of government.

It goes far beyond what’s been reported. Not only is Jay Clayton Trump’s chair of the Securities and Exchange Commission, after serving as the attorney who advised the bank during the bailouts of 2008, but new disclosures show that the team Clayton brought with him to oversee the financial market regulator are also former Goldman Sachs attorneys.

The Intercept obtained the ethics disclosure form for Sean Memon, Clayton’s deputy chief of staff, which shows that Memon previously worked for Goldman Sachs, as well as a range of other Wall Street clients, including Wells Fargo, J.P. Morgan Chase, AIG, MetLife, Ally Financial, and Deutsche Bank.

Last month, Clayton also brought in Steven Peikin as one of two directors of the enforcement division of the SEC, one of the most prominent positions at the agency. Peikin, like Memon, previously served as an attorney to Goldman Sachs and other banks. All three men are former lawyers with Sullivan & Cromwell, arguably the most influential law firm of the 20th Century. 

While previous administrations have retained staff with ties to major banks, Trump has turned his administration into somewhat of a Goldman Sachs alumni organization

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