Related: Lynn Cashing In
"White House defends Geithner's choice of aide
WASHINGTON - The White House yesterday defended Treasury Secretary Timothy Geithner's choice of Mark Patterson, an ex-lobbyist for
The selection is at least the third high-profile exception to a policy by President Obama that says no one who has lobbied on a set of issues within the past two years can take a role in his administration that deals with the same subject matter.
Until last April, Patterson, a Goldman vice president for government relations, acted as a lobbyist on a wide range of issues that could cover a large swath of his duties at Treasury, including mortgage foreclosure legislation, credit default swaps, bond market liquidity, and credit rating agencies.
It's called a CONFLICT of INTEREST is what it is called.
Patterson's former Wall Street firm has also received $10 billion in government bailouts in the current recession. Patterson would be severely hampered in the new job unless he gets a waiver from the White House on grounds that it is in the public interest.
Last week, the administration granted a waiver to William J. Lynn III, the president's choice to become the Defense Department's number two official, who was registered until July as a lobbyist for
Yeah, we know.
Meet the new boss, 'eh?
