Christine Stuart Photo
Lehman testifying last week in Hartford.
A new online citizens’ petition drive aims to stop the confirmation of a “Wall Street hustler” Gov. Ned Lamont picked to serve as state economic development commissioner.
The drive — click here for more info or to sign it — is posted on the change.org website. It targets former Goldman Sachs exec David Lehman, whom Lamont has picked for the development post.
Lehman has come under fire for his role in pushing investments in toxic mortgages on his clients while simultaneously betting against them, then offering suspect explanation under oath to Congress (about what it means to hear tips “on the street”). (Click here to read a full rundown of his actions, by columnist Colin McEnroe.)
Following is the text accompanying the change.org petition:
Dear Senators of the CT General Assembly,
We ask that you OPPOSE the nomination of David A. Lehman for the Commissioner of Economic and Community Development/Senior Economic Advisor position for the State of Connecticut.
In 2007, as a Managing Director of Goldman Sachs, Mr. Lehman was part of a team that defrauded clients, by knowingly selling toxic mortgage debt under the auspices that these investments were profitable. This led to the loss of billions of dollars by several investment firms. All the while, Goldman Sachs was profiting from having shorted their position. (In other words, Goldman Sachs had an undisclosed vested financial interest in the failure of the very same product that they were selling to their clients.)
Not only did investment firms fail, but the citizens of this country were then used as a bank — as billions of dollars of taxpayer money was used to save the banks that were deemed, “too big to fail”.
On February 26th, as David A. Lehman testified before the Executive and Legislative Nominations Committee, he was more than happy to give the same noncommittal and pass-the-responsibility answers that he gave before the U.S. Congress in 2010. He spoke of transparency, but could not give us a clear reasoning for his own actions. He repeatedly stated that all these events were ten years ago, and that he couldn’t remember the specifics. It felt as if he wanted us to forget.
Well, for many families, ten years ago is still as relevant today, as it was then. While Goldman Sachs was profiting from their ‘big short,’ millions of foreclosures were being filed. Families lost their homes and dreams, at a speed never before seen. To this day, in both Connecticut and around the country, many have not yet recovered. As foreclosures rose, investment firms swept in to purchase homes for dimes on the dollar. Rental rates grew beyond the means of many. Options for a roof over our heads became fewer.
Ten years ago, will still be relevant tomorrow, and for months and years, if we do not repair the Connecticut economy.
We are being asked to accept that David A. Lehman is the man to fix the economy, to help rebuild the lives of those that his very actions harmed. However, we the citizens of Connecticut, do not want a person this irresponsible to hold the keys to our future. We do not believe he should have the honor, nor the privilege, to represent the citizenry of Connecticut in this important and perilous time. We do not believe, because he cannot be believed.
Knowing how Mr. Lehman and his colleagues were predatory towards their own clients at Goldman Sachs, would you trust him with your own money? Would you trust his advice with TAXPAYER money? Mr. Lehman has demonstrated that he is not to be trusted, and thus please REJECT this gubernatorial nomination.
Sincerely,
The People of Connecticut
***PLEASE ALSO CALL YOUR STATE SENATOR TO OPPOSE THIS NOMINATION***
https://www.cga.ct.gov/asp/menu/cgafindleg.asp
Whoa! But maybe we need an experienced huckster to jump start our economy?
My only question is what are Lehman's ties to Lamont? Is he connected to Ned's wife Annie?