All Commentary
Monday, July 19, 2010

Postal Contract with Goldman Sachs under Scrutiny


“When the U.S. Postal Service’s top marketing officer agreed to hire Goldman Sachs nearly two years ago without a written contract, top executives inside postal headquarters scrambled to make the unauthorized deal square with postal procurement rules. But the no-bid contract they eventually awarded to Goldman Sachs was backdated and was for the wrong kinds of services: The company was hired under a banking services agreement, but Goldman Sachs’ postal work didn’t have anything to do with banking, records show. And the idea to hire the banking giant came from a top former postal executive who also served on the board of directors for a company where Goldman Sachs was a big investor.” (Washington Times, Monday)

Par for the course.

FEE Timely Classic
“Corruption in Government? Shocking!” by Sheldon Richman