Goldman Sachs may have won a PR coup by giving its CEO a puny bonus, but bashing the firm still brings together some of the unlikeliest of allies. Now Goldman has entered a strange alliance of its own. Lucas van Praag, Goldman Sachs Head of Corporate Communications, has taken up blogging at The Huffington Post. The popularly reviled PR-man's post is nothing special--a point-by-point rebuttal of a New York Times story: "Many of the supporting 'facts' don't stand up to serious scrutiny. Here are some of the errors," he begins.
What's more remarkable is his platform. The Huffington Post is hardly the friendliest ground for launching a counterattack. The liberal news outlet frequently blasts out banner headlines such as Goldman Sachs Spends 30 Times More On Compensation Than On Small Business Loan Project, Goldman Sachs Had Bomb-Sniffing Dogs, Police Barricades At Its Headquarters Before Earnings Announcement, Goldman Sachs Helped Push AIG To The Brink, and Goldman Sachs Wasting Shareholder Money On Huge Bonuses, Fiduciary Duty 'Wholly Abdicated,' According To Two New Lawsuits. HuffPo bloggers underscore the point: Mike Lux: Fraud at Goldman Sachs?, David Fiderer: The Times Story On Goldman's Role in AIG's Downfall Is More Damning When Placed In Context, and Tom Gregory: Goldman Sachs Donates 11 Minutes To Haiti.
Clearly, Van Praag is entering the lions' den. The question is whether moonlighting as a blogger proves to be a tactical coup, or a misguided waltz into enemy territory.