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California Labor Calls on Whitman to Detail Involvement with Goldman Sachs at GOP Debate

California Labor Calls on Whitman to Detail Involvement with Goldman Sachs at Sunday’s GOP Debate

As Criminal Probe Gets Underway, Whitman Must Answer Tough Questions about Her Background with Goldman, Knowledge of Illegal Activity and Continued Ties


(Sacramento) — California Labor Federation Executive Secretary-Treasurer Art Pulaski today called on Meg Whitman to provide detailed answers during this Sunday’s GOP debate to questions about her close ties to notorious banking giant Goldman Sachs, which is embroiled in a criminal investigation of practices that led to the subprime mortgage meltdown. 

“The hot water Meg Whitman’s in due to her inextricable ties to Goldman Sachs just hit the boiling point,” said California Labor Federation Executive Secretary-Treasurer Art Pulaski. “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.”

California working families demand that Whitman address the following questions at this weekend’s debate:

1. Will you admit tonight 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?

2. 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?

3. 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?

4. 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?

“To date, Meg Whitman has avoided the tough questions California families have about her dealings with Goldman Sachs and support of the Wall Street agenda that collapsed the economy,” Pulaski said. “The Wall Street tricks and scams under investigation led to more than a half million California families losing their homes and the devastation of countless lives. On Sunday, Whitman must directly address these questions, which are central to growing concerns about her fitness to lead our state.”

It was reported yesterday that the Department of Justice has opened a criminal probe into Goldman Sachs over insider deals on mortgage-backed securities. Experts agree these types of deals are largely to blame for the housing collapse, which led to the largest economic disaster since the Great Depression.

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 myriad investments with Goldman worth millions of dollars. Whitman has repeatedly dodged tough questions about her involvement with Goldman.

The California Labor Federation launched this week www.WallStreetWhitman.com, the most comprehensive site on the Web devoted to Meg Whitman’s background as a CEO and Goldman Sachs director, and her Wall Street agenda for California.




Paid for by the California Labor Federation.
Not authorized by a candidate or committee controlled by a candidate.

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