Time to short Amazon: Mistress of Disaster Jamie Gorelick Joins $AMZN Board of Directors

Oh, my: what could possibly go wrong with this?

Amazon board adds Jamie Gorelick, former Fannie Mae and DOJ official

Amazon.com just added a new board member: Jamie S. Gorelick, a veteran of the U.S. government and no stranger to controversy. The company announced the appointment in an SEC filing a short time ago. Gorelick, a litigator at the law firm WilmerHale, was a long-running U.S. Deputy Attorney General who... blah, blah, blah...

Gorelick is best-known for her leading roles in two epic, trillion-dollar catastrophes, which earned her the nomme de guerre "The Mistress of Disaster".

• In 2004, observers were "astonished" to discover that a key member of the 9/11 Commission had a fatal conflict-of-interest. Jamie Gorelick had served as a Deputy Attorney General under Bill Clinton from 1994 to 1997. It was later revealed that Gorelick had established a pre-Patriot Act "wall" that prevented the foreign intelligence and criminal investigative communities from collaborating. Gorelick's wall "specifically impeded the investigation into Zacarias Moussaoui", the so-called "20th hijacker."

• Where did she turn up after that delightful stint in Justice? Though she had no training or experience in finance, Gorelick was appointed the Vice Chairman of Fannie Mae and served in the role from 1997 to 2003. During that six-year period, she earned over $26 million. During Gorelick's tenure, FNMA suffered a $10 billion accounting scandal, an ominous harbinger of the firm's looming troubles. FNMA's 2008 collapse, of course, helped touch off the mortgage meltdown.

It's not often that one person plays key roles in two -- count 'em, two -- trillion-dollar disasters. Welcome, my friends, to the world of well-connected Democrat Jamie Gorelick.

You've been warned.