Fox, Hen House? Goldman Executive Named as SEC Investment Chief

The first SEC Chairman was, believe it or not, one of the savviest and successful stock traders of all time, Joseph P. Kennedy. At the time it was considered a shocking appointment by FDR. But Kennedy turned out to be serious and effective, by all accounts, and the new agency was off to a strong start.

Who is to say lightning can’t strike twice, but this appointment of a Goldman Sachs executive is likely to come in for public scrutiny. Goldman was a target of a high profile charge by the SEC recently in connection with its mortgage backed securities offerings and was also raked over the coals in a Congressional hearing.

Most recently they stumbled badly in their effort to complete a private placement of Facebook shares.

Goldman Executive, Eileen Rominger, Named as SEC Investment Chief –