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Goldman Hedges Its Political Bets

Lloyd Blankfein, chairman and CEO of The Goldman Sachs Group, is sworn in while testifying before the Senate Homeland Security and Governmental Affairs Investigations Subcommittee on Capitol Hill.
Jim Watson | AFP | Getty Images
Lloyd Blankfein, chairman and CEO of The Goldman Sachs Group, is sworn in while testifying before the Senate Homeland Security and Governmental Affairs Investigations Subcommittee on Capitol Hill.

Regardless of what happens in the 2012 elections, Goldman has its bets covered.

Goldman Sachs announced last week that it had hired former United States Senator Judd Gregg as an international adviser. Gregg’s connections to Washington DC’s power-brokers and regulators make this a real coup for Goldman—but he’s not the first Republican stalwart the firm has hired recently.

Last year, Goldman hired a lesser-known—but very well-connected—former Capitol Hill staffer named Joe Wall to be a lobbyist. Wall had worked on Mitt Romney’s campaign in 2008 and was employed that same year in the Senate Office of the Vice President as a deputy assistant to Dick Cheney. Before that he was a key aide to House Majority Whip Roy Blunt.

If Mitt Romney were elected the next president of the Untied States, both Gregg and Wall will no doubt play the role of tentacles for the Vampire Squid’s reach into the White House. If Republicans keep control of the House or gain control of the Senate, Romney and Wall are the guys you want on your side.

But Goldman is nothing if not bipartisan. The firm has also hired two top Democrats—former Obama administration White House Counsel Greg Craig and Democratic Congressman Barney Frank’s former top banking staffer, Michael Paese.

So now you know who will win in 2012: Goldman Sachs.

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