US Rep Frank bars Goldman Sachs lobbyist-aide

[Donnachaidh]

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1615357320090916


WASHINGTON, Sept 16 (Reuters) - A top lobbyist for Wall Street giant Goldman Sachs (GS.N) has been barred from communicating with members and staff of the U.S. House of Representatives Financial Services Committee, an aide to the panel's chairman said on Wednesday.

Democratic Representative Barney Frank has banished Goldman's Michael Paese, a former committee staffer, from dealing with the panel while it considers a long list of financial reform proposals, some directly impacting Goldman.

"Mr. Paese left our offices in September 2008, and was not allowed to communicate with any committee members or staff for a period of one year due to normal ethics restrictions that apply to all House and Senate employees," said Frank aide Steven Adamske in a statement.

"Out of an abundance of caution due to the nature of financial regulation reform, the chairman has extended Mr. Paese's recusal for another year," Adamske said.


Moe at the link above --

[Vinnie From Indy]

1. That is like killing one bee in a swarm of bees

I have every confidence that Goldman-Sachs will find a suitable replacement.

[Overseas]

2. K&R. Thanks to Barney Frank.

I am glad he's on the Financial Services Committee.

[Romulox]

3. Too bad Barney didn't propose that rule when they were handing out all that money... nt

[WatchWhatISay]

5. When was that?

The article states that this rule started in Sept., 2008, and is now being extended for a second year.

[Romulox]

6. Read the article. The lobbyist in question worked for Frank just prior to Sept. 08. nt

[WatchWhatISay]

7. I did read it, as is apparent from my post. Now answer my question,

which is when was the money handed out? What else could Barney Frank have done to have avoided impropriety of dealing with a former staffer turned lobbyist, than to extend (voluntarily)a restriction designed to avoid a conflict of interest or the appearance of a conflict of interest?

[OwnedByFerrets]

4. Good on ya Mr Frank.