Should revolving Goldman-government door be investigated?

It's a grand tradition at Goldman Sachs: Retire wealthy and go into public service. Henry Paulson is but one example of a former Goldman exec who moved into the highest echelons of government. But so many execs have made the move that some wonder if all this creates some conflicts of interest. Is it possible that they are still looking out for their ex-colleagues? 

The Financial Times reports Chuck Grassley, the most senior Republican on the Senate finance committee, has asked Eric Thorson, inspector-general of the Treasury, to investigate the "independence" of several Treasury officials who once worked at Goldman Sachs. The issue is the appearance of preferential treatment, specifically regarding the appointment of Robert Steel, a former Goldman Sachs exec, as CEO of Wachovia. Until recently, Steel also worked at the Treasury. Another issue is the tax-code change that seemed to benefit Wells Fargo as it sought to buy Wachovia.

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