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For those who've lamented the various links between Goldman Sachs and the financial regulatory system, this certainly isn't good news. Bloomberg reports that the Securities Exchange Commission has named Adam Storch, a former Goldman exec, as its enforcement division's first chief operating officer. Storch is actually just 29 years old and previously worked in Goldman's business intelligence unit.
In fact, as last year's financial collapse made ever so clear, the increasing dominance of the financial sector - and its deregulation -- has become a mortal danger to our economic security. The financial sector - including the big insurance companies -- has morphed into a cancer growing on our economy -- a cancer that could easily strangle our prospects for our long-term economic security.