Andrew Williams, a spokesman for Goldman Sachs, declined to comment.
While Kidney declined to comment on the Goldman case in particular, much of his role is laid out in a September 2010 report by the agency’s inspector general’s office, which reviewed whether the SEC succumbed to political pressure in bringing the enforcement action. Kidney’s name is blacked out in the report.
‘Little Secret’
In his retirement speech, Kidney noted that he had been “involved in a high-profile case or two” and said he had gotten a message from above not to take too many risks.
“I have had bosses, and bosses of my bosses, whose names we all know, who made little secret that they were here to punch their ticket,” Kidney said. “They mouthed serious regard for the mission of the commission, but their actions were tentative and fearful in many instances.”
Stephen Crimmins, a former colleague of Kidney’s at the SEC who attended the retirement party, said he was one of the “finest lawyers ever to serve in the enforcement division.” Kidney was known for winning the SEC’s first jury trial, which was an insider trading case.
Kidney earned his legal degree at night from George Washington University’s law school while working as a Supreme Court reporter for the United Press International wire service and at U.S. News & World Report.
“People point to him as being very frank and not one to just say what people want to hear,” said Crimmins, now a partner at the K&L Gates law firm in Washington. Speakers at the party even ribbed Kidney about it, Crimmins said.
“There were some high-ranking people in the room, and everyone took it in stride,” Crimmins said. “Everyone there respected that.”