{"id":182820,"date":"2015-06-01T17:14:00","date_gmt":"2015-06-01T22:14:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2015\/06\/01\/not-the-onion-9\/"},"modified":"2015-06-01T17:14:00","modified_gmt":"2015-06-01T22:14:00","slug":"not-the-onion-9","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2015\/06\/01\/not-the-onion-9\/","title":{"rendered":"Not The Onion"},"content":{"rendered":"

<\/a>Andrew \u201cBuddy\u201d Donohue has been appointed Chief of Staff for the Security and Exchange Commission (SEC).<\/p>\n

Before his appointment, Mr. Donohue was a lawyer for Goldman Sachs<\/a>:<\/p>\n

The Securities and Exchange Commission confirmed Thursday that it hired a managing director of Wall Street titan Goldman Sachs Inc. to serve as chief of staff, prompting critics to decry a revolving door that links the corridors of finance and power.<\/p>\n

Chairman Mary Jo White has hired Andrew \u201cBuddy\u201d Donohue, the SEC said in a news release<\/a>, tapping the influential Wall Streeter to become chief of staff of the agency in charge of protecting investors. He\u2019ll serve as a senior adviser to White on policy, management, and regulatory issues.<\/p>\n

Most recently, Donohue worked as a managing director and associate general counsel at Goldman Sachs. Previously, he led the SEC’s Investment Management Division between May 2006 and November 2010, spanning two administrations and the worst financial crisis since the Great Depression.<\/p>\n

\u201cI am thrilled that Buddy will be returning to the SEC to provide his extensive knowledge and expertise to the agency,\u201d said SEC chief White said in a statement. \u201cBuddy is a seasoned professional whose previous SEC and private sector experience will be invaluable in advancing all aspects of the agency\u2019s mission.\u201d<\/p>\n

White said Donohue\u2019s background will be \u201cespecially useful\u201d as the commission advances new rules for risk management and weighs a uniform fiduciary standard for the investment community.<\/span><\/p><\/blockquote>\n

Yeah, sure.<\/p>\n

It is, “Especially Useful,”  for the, “Managing director and associate general counsel at Goldman Sachs,” to work on rules for risk management and a fiduciary standard for brokers.<\/p>\n

FWIW, holding brokers to a fiduciary standard, which requires them to act in the best interest of their client, is something that the financial industry has been fighting tooth and nail, and the man from Goldman Sachs is Chief of Staff for the organization which is drawing up the regulations for this.<\/p>\n

Reform, my flabby white ass.<\/p>\n","protected":false},"excerpt":{"rendered":"

Andrew \u201cBuddy\u201d Donohue has been appointed Chief of Staff for the Security and Exchange Commission (SEC). Before his appointment, Mr. Donohue was a lawyer for Goldman Sachs: The Securities and Exchange Commission confirmed Thursday that it hired a managing director of Wall Street titan Goldman Sachs Inc. to serve as chief of staff, prompting critics …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,985],"tags":[],"class_list":["post-182820","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/182820"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=182820"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/182820\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=182820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=182820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=182820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}