http://www.politico.com/news/stories/0109/18047.html
Technically, Obama's new fangled ethics reforms don't prohibit him from being appointed, but he can't work on matters directly and substantially related to his former employer, and it's difficult to see how the Number Two person in the Treasury department wouldn't be working on matters that were substantially related to Goldman Sachs. Of course, if the heat gets too high, we can see another of those convenient "waivers" forthcoming.
Here's the language of the ethics document appointees are supposed to shign:
I'm curious how a lobbyist for Goldman Sachs didn't lobby the Treasury Department. Or how he won't participate in the specific subject matter of anything he lobbied about.2. Revolving Door Ban ‑‑ All Appointees Entering Government. I will not for a period of 2 years from the date of my appointment participate in any particular matter involving specific parties that is directly and substantially related to my former employer or former clients, including regulations and contracts.
"3. Revolving Door Ban ‑‑ Lobbyists Entering Government. If I was a registered lobbyist within the 2 years before the date of my appointment, in addition to abiding by the limitations of paragraph 2, I will not for a period of 2 years after the date of my appointment:
(a) participate in any particular matter on which I lobbied within the 2 years before the date of my appointment;
(b) participate in the specific issue area in which that particular matter falls; or
(c) seek or accept employment with any executive agency that I lobbied within the 2 years before the date of my appointment.