SEC Hires 29 Year Old Goldman Sachs Alum as "Enforcement" Chief

Editor's note: Well, it's official. Goldman Sachs alum have now penetrated every level of regulation, politics, supervision, and enforcement. Enforcement?! That's laughable! Some argue that due to Goldman's sheer size, it is almost impossible for GS alum not to populate every inch of government - in a time when Too Big to Fail has become a household name, don't you think that should be only slightly disconcerting? Hey, maybe I'm just being silly. Suuuuuure. - JDA


The SEC's newest member is a 29 year old with a resume that includes Deloitte and - wait for it - Goldman Sachs. Yes, kids, the cat is permanently away and your "new normal" includes putting the criminals in charge of the prison.

Bloomberg:

The U.S. Securities and Exchange Commission named Adam Storch, a 29-year-old from Goldman Sachs Group Inc.’s business intelligence unit, as the enforcement division’s first chief operating officer.

Storch, who joined the SEC Oct. 13, was named to the newly created post of managing executive in the enforcement unit, charged with making the division more efficient, the SEC said today in a statement. At New York-based Goldman Sachs, he had worked since 2004 in a unit at that reviewed contracts and transactions for signs of fraud.

“Adam’s skill in technology systems, workflow process, and project management will greatly benefit the division,” SEC enforcement chief Robert Khuzami said in the statement. “He will help to make us more efficient and nimble and permit us to put more of our investigators on the front lines.”

What do you mean "permit us," Mr Khuzami? Did Storch bring a permission slip from Goldman Sachs when he came over to the SEC? Dear Mr SEC, my child Adam Storch is allowed to regulate, when appropriate, and can also attend the field trip on 10/24/09. Sincerely, Mr Blankfein.


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