Washington Babylon — November 13, 2008, 12:36 pm

Familiar Faces Come on Board: Fannie Mae veteran on State Department transition team

The Washington Post reports that the “Obama transition team yesterday rolled out a new list of officials who will help guide the process, singling out the Treasury, Defense and State departments as its first three areas of focus.”

At the helm of the Treasury Department transition team are Josh Gotbaum, an adviser to investment funds who held various Senate-confirmed positions during the Clinton administration, and Michael Warren, chief operating officer of Stonebridge International LLC.

Heading the State team are two veterans of the Democratic foreign policy establishment, both intimately familiar with the people and machinery at Foggy Bottom. Both Thomas E. Donilon, a partner at O’Melveny & Myers, and Wendy R. Sherman, a business partner of former secretary of state Madeleine Albright, had senior positions in the Clinton-era State Department.

A few other items about Sherman. “From April 1996 until July 1997, she was President and CEO of the Fannie Mae Foundation and a member of the operating committee of Fannie Mae,” says her bio. “At the Foundation, she set in place the groundwork for the newly recreated foundation developed to promote home ownership.” At the Albright Group, she was a door opener for American companies looking to do business abroad. “She leverages her experience as a senior-level diplomat and her expertise in foreign relations to help clients – including businesses and nongovernmental organizations – locate partnership opportunities, gain competitive advantage in the marketplace, and resolve regulatory and political disputes throughout the world,” her bio there said.

Stonebridge International, where Warren is COO, has the same business model. I’ve written about Stonebridge, in an article discussed here.

These are standard members of the permanent government. They work for the government, revolve out to the private sector when their party loses office, and revolve back in when their side wins again. Business consultancies like Albright’s and Stonebridge are pretty much indistinguishable from similar companies run by Republican foreign policy gurus (such as Al Haig and Brent Scowcroft). The people who operate them aren’t technically lobbyists, but they end up being strong advocates for the countries where they do business.

Share
Single Page

More from Ken Silverstein:

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Postcard October 16, 2013, 8:00 am

The Most Cajun Place on Earth

A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits 

Get access to 164 years of
Harper’s for only $39.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

March 2015

A Sage in Harlem

= Subscribers only.
Sign in here.
Subscribe here.

The Man Stopped

= Subscribers only.
Sign in here.
Subscribe here.

The Spy Who Fired Me

= Subscribers only.
Sign in here.
Subscribe here.

Giving Up the Ghost

= Subscribers only.
Sign in here.
Subscribe here.

Invisible and Insidious

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
No Slant to the Sun·

= Subscribers only.
Sign in here.
Subscribe here.

“She didn’t speak the language, beyond “¿cuánto?” and “demasiado,” but that didn’t stop her. She wanted things. She wanted life, new experiences, a change in the routine.”
Photograph © Stuart Franklin/Magnum Photos
[Browsings]
Burn After Reading·

= Subscribers only.
Sign in here.
Subscribe here.

William Powell published The Anarchist Cookbook in 1971. He spent the next four decades fighting to take it out of print.
“The book has hovered like an awkward question on the rim of my consciousness for years.”
© JP Laffont/Sygma/Corbis
Article
The Fourth Branch·

= Subscribers only.
Sign in here.
Subscribe here.

“Both the United States and the Soviet Union saw student politics as a proxy battleground for their rivalry.”
Photograph © Gerald R. Brimacombe/The LIFE Images Collection/Getty Images
Article
The Spy Who Fired Me·

= Subscribers only.
Sign in here.
Subscribe here.

“In industry after industry, this data collection is part of an expensive, high-tech effort to squeeze every last drop of productivity from corporate workforces.”
Illustration by John Ritter
Article
Invisible and Insidious·

= Subscribers only.
Sign in here.
Subscribe here.

“Wherever we are, radiation finds and damages us, at best imperceptibly.”
Photograph © 2011 Massimo Mastrorillo and Donald Weber/VII

Hours per day that a death-row inmate in China wears hand and ankle restraints:

24

A multidisciplinary team detected cardiac arrhythmia in the works of Beethoven.

There was a run on cases of 5.56mm M855 green-tip rifle bullets, after the White House moved to ban their manufacture and sale because they can pierce police armor.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

Driving Mr. Albert

By

He could be one of a million beach-bound, black-socked Florida retirees, not the man who, by some odd happenstance of life, possesses the brain of Albert Einstein — literally cut it out of the dead scientist's head.

Subscribe Today