Goldman Sachs Lures Big New York Prosecutor In HouseYou can read the article here
by Liz Rappaport - Law Blog, WSJ
The path from prosecutor to private sector is well-trodden.
But David Markowitz, of the New York Attorney General’s office, is making the leap in rather spectacular fashion. The 40-year-old lawyer is leaving the NYAG’s team, where he presided over some of the most high-profile cases against financial firms, to work as an associate general counsel at Goldman Sachs, one of the most maligned on Wall Street in recent years.
At Goldman he will be a senior member of the litigation and regulatory proceedings group, which works on a broad variety of matters, said a spokesman for Goldman. “We are pleased that Mr. Markowitz is joining the company,” he said.
Markowitz served as the head of the investor protection bureau for New York Attorney General Andrew Cuomo, a powerful unit that launched probes and brought cases on Wall Street’s actions in the auction-rate securities market, the credit default swap market, the subprime mortgage market, and executive compensation during the height of the financial crisis.
His move comes as many top lawyers in Cuomo’s office are trying to sort out where they’ll go come January, when Cuomo becomes the Governor of New York. Some may join Cuomo’s administration, while others, like Eric Corngold, left earlier this year to join the law firm Friedman Kaplan Seiler & Adelman as a criminal defense attorney.
Markowitz was recruited to join Cuomo’s office in early 2008 after spending eight years at the New York office of the Securities and Exchange Commission. There he worked on some well-known insider trading cases, among others.
Mr. Markowitz graduated from law school at New York University and he got his bachelor’s degree from Lafayette College, in Easton, Pa. He was a litigation associate at Stroock & Stroock & Lavan LLP in Manhattan for four years before joining the commission in 2000.
GoldmanSachs666 Message Board
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage". In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia
Wednesday, December 8, 2010
If you want to know why Goldman Sachs has so much power to influence the laws in the financial world, then just remember that politicians often leave politics and take jobs in finance or financiers leave their jobs to join the government as advisors or lawyers in government move into finance--it's all a merry circle of influence, job-making and lobbying. Below is another example: