And yet another Goldman alum is running the show somewhere else. Currently undersecretary of the Treasury, and former co-head of equities for Wall Street’s 800 pound gorilla, Bob Steel will be taking over a bank just as victimized as its peers by the credit crunch. Here’s to hoping he fights of a suitor.

From his perch inside the Treasury Department, Robert K. Steel has wrestled with the troubles plaguing America’s financial industry. Now he will confront those problems up close at the Wachovia Corporation, one of the nation’s largest banks.

On Wednesday, Wachovia ended its six-week search for a new leader when it named Mr. Steel, the under secretary of the Treasury for domestic finance, as its chief executive.

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