Goldman Regulatory Advisers Were Too Friendly With Regulators

The Federal Reserve Board is trying to bar a former Goldman Sachs banker named Joseph Jiampietro from the banking industry for misusing confidential information. Jiampietro is fighting this effort. "The Fed has the law wrong and the facts wrong," says his lawyer. But even if he wins, this case can't be great for his future in banking, not only because it's awkward to fight the Fed generally but also because the Fed published Jiampietro's bad performance reviews:

That is kind of cold. I feel like the bad performance-review ratings were not strictly necessary, from a legal perspective. (Disclosure: I used to work at Goldman, where my managers may have once or twice advised me that I needed to increase the amount of revenue-generating business I brought into the firm.)