Ex-Goldman Sachs employee-turned-Congressional staffer changed his name


We've discussed the problem of the revolving door when it comes to regulating the financial services industry. Most of the controversy stems from employees of government agencies quitting to work for the companies they once regulated, which raises a host of obvious legal and ethical questions.

But now comes word from The Atlantic Wire of a very interesting twist. Apparently, a former Goldman Sachs compliance employee named Peter Simonyi now works for Congressman Darrell Issa under a different name, Peter Haller. Is this a big deal? Well, it has raised a few eyebrows as Haller has been quite involved on financial regulatory issues and has gone to bat for the industry so to speak.

To some, this raises some ethical issues. I do not think there is a law preventing employees of private companies going to work for a congressman. In fact, it makes some sense if the congressman wants to make himself a friend of Goldman Sachs. But to those who favor stronger oversight of the industry, it does seem dubious.

One question is whether he changed his name to avoid this sort of controversy. In terms of a legislator's reputation, such move might undermine any attempts to be objectively pursuing the interests of the public. It would be interesting to hear why exactly the name was changed. In any case, this is more of a man bites dog story than anything else.

For more:  
- here's the article

Related articles:
Revolving SEC regulatory door at issue again
Fed derivatives reformer joins Goldman Sachs