FBI Securities Fraud Chief Takes Revolving Door To Goldman Sachs [View all]

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FBI Securities Fraud Chief Takes Revolving Door To Goldman Sachs

Posted By: Clayton Browne - May 26, 2015 12:26:14 PM

In another example of the federal government to Wall Street revolving door, FBI securities fraud division chief Patrick Carroll resigned over the weekend to take a position at Goldman Sachs Group Inc (NYSE:GS).

Bloomberg is reporting that Patrick Carroll, the FBI agent who headed up the Bernie Madoff investigation and was heavily involved in the use of wiretaps that led to insider-trading convictions, has taken a job with the Goldman Sachs Group.

Carroll has switched allegiances to the investment bank after after 25 years with the FBI. He is just the latest in a strong of former federal government officials who have ended up at high-paying jobs on Wall Street. Apparently, Carroll has become a vice president in GS’s compliance, surveillance and strategy group, which is managed by Alan Cohen.

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Can be seen as a major coup for Goldman Sachs

“It’s really about how Goldman is reacting to the tidal wave of litigation that now seems to be part of the ongoing government toolkit for regulating banks,” commented Roy Smith, a professor of finance at NYU’s Stern School of Business and himself an ex-Goldman employee. “It can help to have some people who know how government prosecutors and investigators think, some guy who has the mindset of an alligator.”

Full article:
http://www.valuewalk.com/2015/05/revolving-door-goldman-sachs/