Taibbi also makes connections between lawyers offering campaign money and the same lawyers defending Goldman Sachs when it was sued for ripping off an Australian hedge fund using "toxic mortgage-backed CDOs." Here's an excerpt:
Best Way to Raise Campaign Money? Investigate Banks
By Matt Taibbi - RollingStone
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Hence the sudden avalanche of money sent Miller’s way. The numbers are laughable. In 2006, out -of-state donors gave Miller’s campaign $10,508. For the 2010 cycle, that number was $497,357. Three lawyers by themselves – Al Gore’s attorney David Boies, plus Donald Flexner and Robert Silver, all partners in the firm Boies, Schiller and Flexner – gave Miller a total of $60,000.
Guess who Boies’ firm defended last year, in a suit brought by an Australian hedge fund that claims it was ripped off in a deal involving toxic mortgage-backed CDOs? That’s right: Goldman, Sachs. Goldman hired Boies to represent it in a fight against the now-defunct Basis Yield Alpha Fund, which bought into Goldman’s notorious “Timberwolf” deal – one of the “shitty deals” Senator Carl Levin, in hearings last year, was haranguing Goldman for selling to unsuspecting clients.
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Read the entire article here