Goldman Sucks Cashed In On Energy Department Loan Program (UPDATE)Quicklink submitted by Amanda Lang Permalink
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|Goldman Sachs' decision to handle the doomed Solyndra loan earned the investment banking giant, along with a nifty payday, bad press that the besieged firm could certainly have done without.
According to the now-bankrupt Solyndra, Goldman acted as its "exclusive financial advisor" on the deal -- an arrangement that was hardly surprising. Goldman has become synonymous with Wall Street influence in Washington, as the company's top executives shuttle back and forth between New York and the Treasury Department regardless of which party occupies the White House. But a closer look shows that Solyndra was just one element of the bank's involvement with a Department of Energy program that has shoveled millions in loan guarantees to companies partially or entirely owned by Goldman Sachs.
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