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NEW YORK — In the midst of a public relations nightmare, former White House Deputy National Security Adviser Dina Habib Powell took charge of Goldman Sachs’s global charitable foundation, helping to resurrect the big bank’s shattered image after it was implicated in practices that contributed to the financial crisis of 2007-2008.
President Donald Trump confirmed on Tuesday that he is eying Powell as a contender to replace Nikki Haley as U.S. ambassador to the United Nations. Haley announced her resignation on Tuesday, saying she will officially leave her post at the end of the year. Trump said that he would name Haley’s successor within two to three weeks.
Salary - Year - Powell - President - Goldman
With a reported salary of $2 million per year, Powell served as president of the Goldman Sachs Foundation, where she ran high profile projects in a Goldman effort described by the New York Times as “buying redemption” that sought to “polish” the firm’s “reputation with ordinary Americans and politicians in Washington.”
This at a time when Goldman was reviled by ordinary Americans for dealings that eventually led the firm to sign a $5.06 billion settlement with the Justice Department for the bank’s shady conduct in the residential mortgage-backed securities market between 2005 and 2007.
White - House - Year - Terms - Administration
After departing this White House last year, reportedly on good terms with the administration, Powell returned to Goldman Sachs, where she serves on the financial giant’s management committee.
After the financial crisis, the firm was routinely derided in the news media. Rolling Stone labeled Goldman Sachs “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”
Settlement - Statement - Facts - Admissions - Guilt
The settlement included a “a statement of facts” – essentially admissions of guilt – to which Goldman agreed. The Justice Department said the admissions showed that Goldman “made false and misleading representations to prospective investors about the...
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