Goldman hires former Obama attorney to deal with current Obama lawsuit

Talk about a conflict of interest.  I'm no attorney, but I thought that it would be standard practice within the industry to recuse one's self in the face of such an obvious conflict of interest.

Greg Craig Obama's former white house counsel, is now representing Goldman against the current administration's SEC. Goldman is hiring him to lead an agressive response to the legal challenges coming from the SEC lawsuit.  Via Politico:
Goldman Sachs is launching an aggressive response to its political and legal challenges with an unlikely ally at its side — President Barack Obama’s former White House counsel, Gregory Craig.  
The beleaguered Wall Street bank hired Craig — now in private practice at Skadden, Arps, Slate, Meagher & Flom — in recent weeks to help in navigate the halls of power in Washington, a source familiar with the firm told POLITICO.

“He is clearly an attorney of eminence and has a deep understanding of the legal process and the world of Washington,” the source said. “And those are important worlds for everybody in finance right now.”

And the ties between Obama and the administration go deeper than that.  The next post we'll talk about Goldman Sachs and Rahm Emmanuel.

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