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Business Activities
Malek served as a director of Fannie Mae during the period in which CEO Franklin Raines was forced out by regulators and when Raines left the federal mortgage guarantor with a pension worth over $100,000 a month and over $5 million in stock options.Malek made his initial fortune as CEO of Marriott Hotels and is part of the Carlyle Group. Malek joined Marriot Hotels in 1975 as a senior vice president; he served as president from 1981 to 1988.
http://en.wikipedia.org/wiki/Lloyd_Blankfein
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With Blankfein at the helm Goldman has also been criticized "by lawmakers and pundits for issues from its pay practices to its role in helping Greece mask the size of its debts."[8] Blankfein testified before Congress in April 2010 at a hearing of the Senate Permanent Subcommittee on Investigations.[improper synthesis?] He said that Goldman Sachs had no moral or legal obligation to inform its clients it was betting against the products which they were buying from Goldman Sachs because it was not acting in a fiduciary role.[9]
In August 2011, Goldman confirmed that Blankfein had hired high-profile lawyer Reid Weingarten. Weingarten has represented executives including former WorldCom CEO Bernard Ebbers and former Enron accounting officer Richard Causey.[10]
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Richard Alan Causey (born 9 January 1960) is one of the prominent figures in the Enron accounting scandal. Causey was Enron's Executive Vice President and Chief Accounting Officer.
Causey graduated from the University of Texas at Austin with a bachelor's degree in accounting and an MBA. He then became a certified public accountant in the state of Texas. He obtained a job at Arthur Andersen, where he rose within the ranks and eventually became the head of the Enron audit team.
Closely working alongside employees from Enron, he got to know the staff as well as the accounting procedures. He left Arthur Andersen and joined the Enron Capital and Trade Division. He eventually was promoted to Chief Accounting Officer, where he signed off on the Special Purpose Entities that were Enron's downfall. He was fired from Enron on February 14, 2002, as part of an investigation by the U.S. Securities and Exchange Commission.
On January 22, 2004, Causey was indicted for wire fraud and conspiracy charges in connection with his activities at Enron between 1998 and 2002. While prosecutors do not believe he skimmed millions of dollars from the numerous suspicious deals, he is believed to know details of many of them. Causey originally pled not guilty, but on December 28, 2005, he entered a guilty plea and agreed to testify against Kenneth Lay and Jeffrey Skilling in exchange for a 5 to 7-year prison term.[1] Skilling's lawyer Daniel Petrocelli reportedly responded that Causey was innocent, and simply broke under the pressure. On January 2, 2007, Causey reported to the Federal Correctional Institution in Bastrop, Texas. He is scheduled to be released in October 2011.[dated info][2][3]
http://www.reuters.com/article/2011/08/22/us-goldman-blankfein-idUSTRE77L5VK20110822
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WASHINGTON |
WASHINGTON (Reuters) - Goldman Sachs Chief Executive Lloyd Blankfein has hired high-profile Washington defense attorney Reid Weingarten, according to a government source, as the Justice Department continues to investigate the bank.Blankfein, 56, is in his sixth year at the helm of the largest U.S. investment bank, which has spent two years fending off accusations of conflicts of interest and fraud.The move to retain Weingarten comes as investigations of Goldman and its role in the 2007-2009 financial crisis continue.
http://en.wikipedia.org/wiki/Steptoe_%26_Johnson
Excerpt:
Steptoe & Johnson LLP is an international law firm recognized for representation of clients before governmental agencies, advocacy in complex litigation and arbitration, and advice in guiding business transactions. The firm has 500 lawyers in offices in Beijing, Brussels, Century City, Chicago, London, Los Angeles, New York, Phoenix, and Washington, D.C..
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