Photo: The Associated Press
Woah, Goldman Sachs hired a reporter!A former bigtime New York Times reporter, Stephen Labaton, just joined the firm as a “full-time consultant on regulatory and legal issues,” says POLITICO.
Labaton, who is also a lawyer, said he will work in Washington and New York.
Here are a few articles he’s written for the NYT:
- Bill Seeks To Shift Rescue Costs To Big Banks
- Trying to Rein In ‘Too Big to Fail’ Institutions
- Fed Plans to Vet Banker Pay to Discourage Risky Practices
- Bill Shields Most Banks From Review
- F.D.I.C. May Borrow Funds From Banks
Solid, nerdy stuff. Most of it is about Washington and financial regulation.
Before he took a buyout in January and left the paper, Labaton was one of the Times’ biggest deals. In 2000, a few of his articles reporting on the McCain-Paxson connection back got on the front page.
He specified that he won’t be lobbying for Goldman (the bank already has more than enough of those – 46 in total, more than both Morgan Stanley and Bank of America combined). So what will he be doing?
He’s clearly an expert on the government’s involvement in banking, so he would probably be a great person to advise the lobbyists.
This is great for Labaton – he probably just got a huge pay upgrade.
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