Monday, October 12, 2009
Lloyd Blankfein has better access than Congress
Reinforcing criticism of his too-close relationship with Wall Street, Treasury Secretary Timothy Geithner is reportedly in touch with executives of Citigroup, JPMorgan Chase and Goldman Sachs on a regular, sometimes daily, basis, spending more time with industry leaders than with key lawmakers on Capitol Hill. After obtaining Geithner’s calendars through Freedom of Information Act requests, the Associated Press discovered the treasury’s top man is known to field calls from Wall Street’s elite after meeting with President Barack Obama, before speaking with members of Congress, and following discussions with Federal Reserve Chairman Ben Bernanke.
AP’s review of Geithner’s meetings during his first seven months in office showed he met more often with Citigroup officials than with Congressman Barney Frank (D-MA), who is leading the effort to approve Geithner’s plan for overhauling the financial system. The treasury secretary also spent more time talking to Lloyd Blankfein, chairman and CEO of Goldman Sachs, than with Senator Christopher Dodd (D-CT), chairman of the Senate Banking Committee.
-Noel Brinkerhoff
When Wall St. Calls, Geithner Answers (by Matt Apuzzo and Daniel Wagner, Associated Press)
Wall Street on Geithner’s Speed Dial (by Deborah Solomon and Damian Paletta, Wall Street Journal)
Ranking Tim Geithner’s BFFs: Blankfein, Parsons, Fink (by Michael Corkery, Wall Street Journal)
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