That Clayton has been a devoted legal slave to the usual Wall Street monsters over the years is obviously concerning, though not terribly unusual.
What makes this situation somewhat unique is the fact that this incoming SEC chief is also married to a broker at Goldman Sachs – his wife Gretchen is a wealth management advisor. This means that a significant portion of Clayton's family income while in office will presumably be coming from a company he is charged with policing.
This is both far less common and a much bigger problem than you'd think. As one former congressional aide put it to me today, "Clayton will be the most financially conflicted SEC chairman in history."
Remember, at the Republican convention last year, Trump supporters heckled Ted Cruz's wife, Heidi, for being a Goldman Sachs employee.
Where are all those furious Trump supporters now that their idol has put the husband of a Goldman broker in charge of the SEC? Pretty quiet. You can hear the crickets chirping all across America today.
The Full Story (January 5, 2017)
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