Lobbyists and a crisis management team are assisting Goldman Sachs, according to this Bloomberg report.
The firm has been putting more money into Washington. It boosted its lobbying expenditures to $1.2 million during the first three months of 2010 from $670,000 during the same period a year earlier. Goldman Sachs’s political action committee contributed a total of $290,500 to both parties in March.
In prior years, Goldman Sachs earned the nickname “Government Sachs” because its entrée in Washington often was based on its own alumni, who have included Treasury Secretaries Henry Paulson and Robert Rubin. President George W. Bush’s chief of staff Joshua Bolten worked at Goldman Sachs as did Jon Corzine, who was a senator and then governor of New Jersey.