Goldman Sachs and the U.S. Navy: The Good-Old-Boy Network

August 1st, 2011 | National Security News Service | | Leave a comment
USS George Washington Carrier Strike Group
USS George Washington Carrier Strike Group

The most powerful man in the Navy authorized an aircraft carrier cruise for a classmate from the U.S. Naval Academy, Thomas Brasco, a wealthy executive at Goldman Sachs. High rolling colleagues at the Wall Street bank also came along for the ride.

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Ex-Navy Secretary Turned Lobbyist Uses $500,000-A-Day Navy Ship to Entertain Business Associates — At Taxpayers’ Expense

July 25th, 2011 | National Security News Service | | 3 comments
USS Theodore Roosevelt
USS Theodore Roosevelt

Two months before the housing bubble peaked in 2006, John Dalton, former Navy secretary under President Bill Clinton, used his prior position to arrange a visit to a Navy aircraft carrier for him and 13 guests, according to documents released under the Freedom of Information Act to the National Security News Service. Dalton earned $3.1 million that year lobbying for the Financial Services Roundtable’s Housing Policy Council, a trade group that represents banks and other home mortgage lenders, his disclosure report with the Senate shows. According to its website, HPC actively represents “its member’s interests in mortgage finance and housing issues to Congress, the Administration and the industry. HPC members originate, service, and insure mortgages. …Member companies originate approximately 75% and service two-thirds of mortgages in the US.”

Continue reading Ex-Navy Secretary Turned Lobbyist Uses $500,000-A-Day Navy Ship to Entertain Business Associates — At Taxpayers’ Expense

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