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Man of Steel At Treasury

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It’s all Goldman Sachs all the time at the Treasury Department these days. Former Goldman CEO Hank Paulson is bringing Goldman senior director Robert Steel on board the good ship Treasury as undersecretary for domestic finance.
Steel started in the equities division at Goldman, and eventually rose to run the group. He was served on the management committee for years with Paulson. He rose close to the pinnacle of power at the firm as vice chairman. We’ve heard that he was one of those who pushed for changes at the NYSE to permit buy and sell orders for the most heavily traded stocks to pair up electronically, eliminating the middlemen of specialists and floor brokers. At the time, he was said to have urged Paulson to combat then NYSE chief Dick Grasso’s resistance to these changes.

Bush to nominate Goldman's Steel to Treasury post