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New Jersey Democrat Faces Criticism For Goldman Sachs Investment In Abusive Company

Phill Murphy -Sara Medina del Castillo

Former Goldman Sachs executive Phil Murphy leads the state’s Democratic gubernatorial primary ahead of Tuesday’s election.

By Daniel Marans

Phil Murphy, the front-runner in New Jersey’s Democratic gubernatorial primary, faces new questions about his tenure at Wall Street giant Goldman Sachs with the election just days away.

The campaign of attorney Jim Johnson, Murphy’s closest competitor in the race, criticized Murphy for serving as president of Goldman Sachs Asia at a time when the division profited from an investment in Yue Yuen Industrial, a Taiwan-based shoemaker. Human rights groups claim to have documented widespread labor abuses by Yue Yuen, including the company docking workers’ already modest pay for mistakes and running factories where machines sometimes severed workers’ hands and fingers, according to an NJ Advance Media report.

“Murphy’s record at Goldman Sachs undercuts what he says on the campaign trail to working families, and it shows that he should not be trusted when he promises to disavow money in politics,” Johnson campaign manager Jocelyn Steinberg said in a Friday statement. “Voters in New Jersey don’t need any more political gimmicks ― they deserve an explanation from Phil Murphy about his time at Goldman Sachs before they head to the polls on June 6.”

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