It’s no secret that Meg “Wall Street” Whitman served on the board of directors at Goldman Sachs at the same time that the notorious banking giant was engaging in some questionable (and now illegal) business practices. But Whitman hasn’t exactly been open and honest about her direct involvement in the mortgage-backed securities and other shady insider deals that resulted in half a million families losing their homes.
Now that the Department of Justice has launched a criminal investigation into Goldman’s role in the subprime mortgage meltdown, it’s more important than ever that Whitman disclose exactly what she knew and did during her 14 months on the Goldman Sachs board. That’s why we’re calling on Whitman to provide detailed answers to the following questions (which are central to growing concerns about her fitness to lead our state) during this Sunday’s GOP gubernatorial debate:
- Will you admit that Goldman Sachs was wrong to bet that hard-working people would lose their houses, at the same time the company was stacking the deck so innocent families were sure to lose? Will you publicly rebuke Goldman and the Wall Street culture you were a part of — the same company and culture that made you a billionaire?
- Knowing Goldman's unethical — and potentially criminal – activities drove the mortgage meltdown, will you apologize to the half million California families who lost their homes for your role as a Goldman director and investor who profited from their losses?
- California voters deserve to know what kind of judgment you would display as Governor. Will you come clean with voters right now about what you knew about Goldman's unethical dealings and when you knew it?
- If you are named in a federal criminal investigation or asked to testify publicly about your knowledge of Goldman's illegal tricks or your profits from the company's scams, how will you remain focused on California's concerns over their jobs, education, and health care?
According to Labor Federation Executive Secretary-Treasurer Art Pulaski:
The hot water Meg Whitman’s in due to her inextricable ties to Goldman Sachs just hit the boiling point. The people of California deserve the honest truth about Whitman’s involvement in the practices that are being investigated as part of the current criminal probe against Goldman Sachs. Whitman must immediately disclose all dealings with Goldman Sachs – past and present – and divulge any information she has about the alleged criminal activity under investigation.
Whitman sat on the board of Goldman Sachs in 2001-2002, was engaged in now-illegal insider deals with Goldman Sachs that netted her nearly $2 million in profits, and currently holds a myriad of investments with Goldman worth millions of dollars. Whitman has repeatedly dodged tough questions about her involvement with Goldman, and recently has attempted to distance herself publicly from the firm.
For more information about Whitman’s shady past with Goldman Sachs, visit www.WallStreetWhitman.com
Paid for by the California Labor Federation.
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