White House Taps Hormats (Goldman Sachs) for State Post
Wall Street Journal – July 20, 2009:
The Obama administration picked Goldman Sachs Group Inc. Vice Chairman Robert Hormats to be the State Department’s undersecretary for economic, energy and agricultural affairs, the White House announced Friday.
Mr. Hormats, if confirmed by the Senate, will buttress Secretary of State Hillary Clinton’s campaign to use economic, trade and environmental issues to redefine Washington’s relationship with nations such as China, India and Russia, said administration officials.
Mr. Hormats also will play a central role in managing Washington’s “strategic and economic dialogue” with Beijing, a diplomatic exchange overseen by Mrs. Clinton and Treasury Secretary Timothy Geithner. The first Obama administration U.S.-China dialogue is slated for this month in Washington, according to the State Department.
Goldman Sachs also produced the previous Treasury Secretary, Henry Paulson. How did he perform? Not so well according to Congressman Cliff Stearns: