Week of 5-3-10

Everyone who has not been in the Witness Protection Program is now familiar with the saga of Goldman-Sachs:  How G-S operatives sold consumers on investment products while at the same time undercutting those very products for the institutional profit of G-S and to the detriment of the clients to whom they were pushing the products.

Conflict of interest?  You bet.  Underhanded?  Well, will you ever be able to trust your broker after this episode?

It is ironic that the G-S episode is now in the political community.  What?   Conflict of interest in politics?  Shocking!

Democratic operative Chris Lehane feels that the G-S issue can be used to great impact against potential GOP gubernatorial nominee Meg Whitman.  He is involved with an “independent” effort to defeat eMeg, known as LEVEL THE PLAYING FIELD.  Over the past several weeks, LEVEL has been in the forefront of efforts to link eMeg to the G-S debacle.  Seems that eMeg was a member of the G-S Board of Directors and Democrats believe that they have finally found the elixir that can slow her run at the Governor’s non-mansion (remember, California does not have a Governor’s mansion).

Goldman-Sachs is feeling the heat – nationwide heat, well beyond a California gubernatorial race.  So, Goldman-Sachs has hired a crisis consultant to refurbish their tarnished image.

And who has G-S hired?  Well, that would be Mark Fabiani, veteran political operative for Democrats AND THE BUSINESS PARTNER OF CHRIS LEHANE.

So, Fabiani tries to refurbish G-S image, while Lehane tries to link eMeg to G-S current disgrace.  Seems as if both Fabiani and Lehane could have worked for G-S when they were selling the worthless investment products.

    *             *             *             *             *

 If you have not already done so, make your plans to attend CAHU’s DAY AT THE CAPITOL.  It has never been so important to attend as it is this year.