Former Goldman Sachs exec named DNC finance chair

[sabra]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-05-18T134334Z_01_N18414965_RTRIDST_0_FINANCIAL-GOLDMAN-DNC.XML

Former Goldman Sachs exec named DNC finance chair

BOSTON, May 18 (Reuters) - Philip Murphy, a former Goldman Sachs (GS.N: Quote, Profile, Research) partner, was nominated this week to head national fund raising for the Democratic Party.

Murphy will serve as the Democratic National Committee's national finance chair until February 2009 and focus on raising money for the fall elections, he said.

The former investment banker worked for Goldman Sachs for 24 years and was co-chief of the firm's investment management group until 2003. He is the latest in a string of Goldman executives to move into government. Robert Rubin served as Treasury secretary in the Clinton administration, Jon Corzine is governor of New Jersey and Joshua Bolten was recently named as President George W. Bush's chief of staff.

[babylonsister]

1. Does this free up Dr. Dean's time or is it a slap in the face? nt

[Up2Late]

3. I think this means that Dean is raising such huge piles of cash, that...

...they needed to find someone very good at tracking large amounts of money. I bet this will help Dean concentrate on his real job.

I just hope the guy is honest, and doesn't screw us all in the end.

[babylonsister]

5. Then that would be great news! Thanks! nt

[NewJeffCT]

2. GS must be a pretty progressive firm

I think somebody from there also teamed up with Al Gore for one of his big projects...

[davepc]

4. John Corzine was a CEO of Goldman Sachs before he got into politics