Oct. 16 (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.
It ordinarily requires a lot of self-discipline let the facts speak for themselves. Emotions compel us to editorialize. Yet what more can a person say? A 29-year-old is going to become the chief operating officer of the SEC's enforcement division. That sentence would not even make sense if we omitted one material fact: Mr. Storch is from Goldman Sachs.
Barack Obama is doing everything within his power to increase Goldman Sachs' power and influence. He's succeeding. Perhaps making Goldman Sachs stronger was the change he promised?