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Amnorix
08-23-2011, 07:04 AM
A dumb question for those who think that some kind of shadowy cabal of bankers run the world...

If so, then why is the CEO of what is quite possibly the most powerful bank in America, Goldman Sachs, hiring a lawyer and worrying about whether he may have criminal exposure as a result of the housing bubble fiasco?

http://content.usatoday.com/communities/ondeadline/post/2011/08/goldman-sachs-ceo-hires-lawyer-shares-drop/1


Surely if he's a member of the Illuminati...

CoMoChief
08-23-2011, 07:10 AM
You're right ...completely stupid question.

Donger
08-23-2011, 07:11 AM
A dumb question for those who think that some kind of shadowy cabal of bankers run the world...

If so, then why is the CEO of what is quite possibly the most powerful bank in America, Goldman Sachs, hiring a lawyer and worrying about whether he may have criminal exposure as a result of the housing bubble fiasco?

http://content.usatoday.com/communities/ondeadline/post/2011/08/goldman-sachs-ceo-hires-lawyer-shares-drop/1


Surely if he's a member of the Illuminati...

Smokescreen! Smokescreen! So The Truth cannot be seen!

http://www.mnn.com/sites/default/files/enviro-man-feat.jpg

petegz28
08-23-2011, 07:13 AM
You think 1 individual is of any consequence to such a consortium?

RNR
08-23-2011, 07:15 AM
<iframe width="420" height="345" src="http://www.youtube.com/embed/ZW8TlrYhBxk" frameborder="0" allowfullscreen></iframe>

HonestChieffan
08-23-2011, 07:17 AM
Pete is right. Any decent cabal of controllers has a succession plan and makes sure that at the top, people are prepared to task themselves in multiple directions. This is all part of the management plan. There is no shame in sacrifice of one for the many.

Donger
08-23-2011, 07:17 AM
You think 1 individual is of any consequence to such a consortium?

It does kind of screw up poker night, yes.

petegz28
08-23-2011, 07:19 AM
It does kind of screw up poker night, yes.

:)

KILLER_CLOWN
08-23-2011, 07:20 AM
You think 1 individual is of any consequence to such a consortium?

heh, puppets being puppets. They will on occasion burn one of their own, the real controllers are not seen. More than likely though nothing will come from this.

Donger
08-23-2011, 07:24 AM
heh, puppets being puppets. They will on occasion burn one of their own, the real controllers are not seen. More than likely though nothing will come from this.

Yep, the C-level people are merely figureheads. Or, if needed, sacrificial lambs.

Backwards Masking
08-23-2011, 07:27 AM
A dumb question for those who think that some kind of shadowy cabal of bankers run the world...

If so, then why is the CEO of what is quite possibly the most powerful bank in America, Goldman Sachs, hiring a lawyer and worrying about whether he may have criminal exposure as a result of the housing bubble fiasco?

http://content.usatoday.com/communities/ondeadline/post/2011/08/goldman-sachs-ceo-hires-lawyer-shares-drop/1


Surely if he's a member of the Illuminati...

So what you're saying is one American banker CLAIMING to be worried about his bank ONE time is proof that all bank are fairly regulated, no banker has ever been corrupt, the system is perfectly fair and anyone who has ever thought otherwise is a kook that's imagining things.

Like PT Barnum once said, a sucker's born every minute.

Amnorix
08-23-2011, 07:31 AM
So what you're saying is one American banker CLAIMING to be worried about his bank ONE time is proof that all bank are fairly regulated, no banker has ever been corrupt, the system is perfectly fair and anyone who has ever thought otherwise is a kook that's imagining things.

Like PT Barnum once said, a sucker's born every minute.


JFC.

http://www.ahajokes.com/cartoon/readdum.jpg

blaise
08-23-2011, 07:31 AM
Bankers and corporations run the world, and the Republicans are in the pocket of the bankers an corporations, so that's the reason why we've had 80 Republican Presidents in a row.
Because these two things are true- bankers and corporations run the world. And the Republican party exists to do the bidding of the bankers and corporations.

Amnorix
08-23-2011, 07:32 AM
So what you're saying is one American banker CLAIMING to be worried about his bank ONE time is proof that all bank are fairly regulated, no banker has ever been corrupt, the system is perfectly fair and anyone who has ever thought otherwise is a kook that's imagining things.

Like PT Barnum once said, a sucker's born every minute.


Actually, I need to remember that you're probably a mult.

Radar Chief
08-23-2011, 07:34 AM
If bankers and lawyers ran the world we’d be overwhelmed with debt and litigation.

Oh, wait…

Amnorix
08-23-2011, 07:42 AM
If bankers and lawyers ran the world we’d be overwhelmed with debt and litigation.

Oh, wait…


Behind 99% of lawsuits filed is a client who wants that lawsuit filed.

Jaric
08-23-2011, 07:46 AM
While I'm not saying I buy into the conspiracy theory, I don't think your premise is sound here Amnorix.

It could very likely be that the Goldman Sachs guy is simply the fall guy/sacrifical lamb.

Radar Chief
08-23-2011, 07:46 AM
Behind 99% of lawsuits filed is a client who wants that lawsuit filed.

Of course there is, and probably 50% have a lawyer driving the issue that’s willing to throw away ethics for a buck. :Poke:

Donger
08-23-2011, 07:48 AM
Behind 99% of lawsuits filed is a client who wants that lawsuit filed.

And behind 99% of all drug users is a drug dealer.

:D

Radar Chief
08-23-2011, 07:50 AM
And behind 99% of all drug users is a drug dealer.

:D

ROFL

Amnorix
08-23-2011, 07:54 AM
While I'm not saying I buy into the conspiracy theory, I don't think your premise is sound here Amnorix.

It could very likely be that the Goldman Sachs guy is simply the fall guy/sacrifical lamb.


Yeah, I should've anticipated this line of argument. That Blankfein, CEO of Goldman Sachs, is just a front man for the real powers behind the throne of the powers which are behind the throne.

Of course, Goldman Sachs and every other big bank is a public company, so you can buy shares in the Illuminati these days, I guess. Or maybe they skim off the top and those numbers never get reported. Even though they're audited. And their numbers can be and are reviewed by federal regulators.

Ultimately, if you're going to insist on wearing the tinfoil hat, go for it. The Main Street / Wall Street battle has been going on for well over a hundred years.

Amnorix
08-23-2011, 07:55 AM
Of course there is, and probably 50% have a lawyer driving the issue that’s willing to throw away ethics for a buck. :Poke:


:p

petegz28
08-23-2011, 08:04 AM
Yep, the C-level people are merely figureheads. Or, if needed, sacrificial lambs.

For the most part, yes they are.

Amnorix
08-23-2011, 08:07 AM
For the most part, yes they are.


Then who is running the show, and if they're so powerful why let Blankfein take the fall? There's no public outcry anymore for heads to roll in the wake of the 2008 housing collapse.

Chiefshrink
08-23-2011, 08:08 AM
While I'm not saying I buy into the conspiracy theory, I don't think your premise is sound here Amnorix.

It could very likely be that the Goldman Sachs guy is simply the fall guy/sacrifical lamb.

BINGO! and they better go after Barney and Chris as well.

Donger
08-23-2011, 08:08 AM
For the most part, yes they are.

Oh, I know.

petegz28
08-23-2011, 08:14 AM
Yeah, I should've anticipated this line of argument. That Blankfein, CEO of Goldman Sachs, is just a front man for the real powers behind the throne of the powers which are behind the throne.

Of course, Goldman Sachs and every other big bank is a public company, so you can buy shares in the Illuminati these days, I guess. Or maybe they skim off the top and those numbers never get reported. Even though they're audited. And their numbers can be and are reviewed by federal regulators.

Ultimately, if you're going to insist on wearing the tinfoil hat, go for it. The Main Street / Wall Street battle has been going on for well over a hundred years.

As smart as you are how can you fail to see the forrest through the trees?

All what you state is true. That being said it's what you didn't state that hurts your argument. For instance, it was GS that "convinced" congress that there needed to be this huge bailout for the banks. What goes little unnoticed is during all that bailing out and talk of taking haircuts, etc., GS managed to receive 100 cents on the $ of what AIG owed them via a tax payer bailout. Coincidence that the Treasury Secretary at the time was also the former head of GS? Coincidence thatis was that Secretary and GS that started the whole 40-1 leverage ratio in the first place?

Coincidence that GS was advising clients to buy something they themselves were shorting and nothing by trivial investigations have occured? Coincidence that GS convinced AIG to create the very CDO's that they in turn begged congress to make good on with our tax $'s and it was done? Coincidence that Lehman was allowed to fail and they were one of GS's competitors while those with obligations related to GS were bailed out?


Lots of coinkydinks there

petegz28
08-23-2011, 08:15 AM
Then who is running the show, and if they're so powerful why let Blankfein take the fall? There's no public outcry anymore for heads to roll in the wake of the 2008 housing collapse.

Which show? Who runs the show of a corporation? The board. CEO's take the fall for bad decisions boards make all the time. CEO's are a dime a dozen and easily replaced.

Donger
08-23-2011, 08:15 AM
As smart as you are how can you fail to see the forrest through the trees?

http://t1.gstatic.com/images?q=tbn:ANd9GcSFYiIskH_S_wkH0JpdylOxqdZehxMuXZBypWQxDlS4hw0f0KZy

BucEyedPea
08-23-2011, 08:23 AM
Bankers and corporations run the world, and the Republicans are in the pocket of the bankers an corporations, so that's the reason why we've had 80 Republican Presidents in a row.
Because these two things are true- bankers and corporations run the world. And the Republican party exists to do the bidding of the bankers and corporations.

Banks are corporations. But you're wrong as to who they have in their pockets. Both parties are but I'd say more so the Democrats are—at least these days. They're not anything like their forebears like Andrew Jackson.

Jaric
08-23-2011, 08:23 AM
Ultimately, if you're going to insist on wearing the tinfoil hat, go for it. The Main Street / Wall Street battle has been going on for well over a hundred years.
I suppose you missed the part where I said I wasn't saying I buy into the conspiracy theory.

Only that I don't believe you've debunked it with this argument.

CoMoChief
08-23-2011, 09:06 AM
Bankers and corporations run the world, and the Republicans are in the pocket of the bankers an corporations, so that's the reason why we've had 80 Republican Presidents in a row.
Because these two things are true- bankers and corporations run the world. And the Republican party exists to do the bidding of the bankers and corporations.

Dems are just as much a part of the banking cartels as repubs are. They've financed both political parties and both sides of wars...they have to if they want to stay in power and control everything. Our entire political system is bought and paid for.

Look at the Obama admin...just about everyone involved is connected to wall St bankers.

Brock
08-23-2011, 09:12 AM
There's always a fall guy, isn't there?

BigChiefFan
08-23-2011, 10:06 AM
http://www.youtube.com/watch?v=Aw-GP1D6cdo

Radar Chief
08-23-2011, 10:14 AM
There's always a fall guy, isn't there?

Yup. /Norville Barnes

Jenson71
08-23-2011, 10:43 AM
Remember, pete finds it plausible that aliens helped build the pyramids.

orange
08-23-2011, 11:17 AM
While I'm not saying I buy into the conspiracy theory, I don't think your premise is sound here Amnorix.

It could very likely be that the Goldman Sachs guy is simply the fall guy/sacrifical lamb.

Guys who know too much aren't left to the prosecutors, their drugfilled bodies are fished out of a river in Lady Gaga costumes.

http://www.indonesiamatters.com/pictures/conspiracy-theory.jpg

Amnorix
08-23-2011, 11:33 AM
Remember, pete finds it plausible that aliens helped build the pyramids.


I'd forgotten that...

petegz28
08-23-2011, 11:42 AM
Remember, pete finds it plausible that aliens helped build the pyramids.

Remember, Jenson thinks our Fed Gov isn't corrupt

KILLER_CLOWN
08-23-2011, 02:23 PM
Remember, Jenson thinks our Fed Gov isn't corrupt

I'll buy that for a dollar, for what it's worth. Obama craps nothing but roses, and his backers smell of apple pie.

Jaric
08-23-2011, 02:25 PM
Guys who know too much aren't left to the prosecutors, their drugfilled bodies are fished out of a river in Lady Gaga costumes.

http://www.indonesiamatters.com/pictures/conspiracy-theory.jpg

Is that the guy from Watchmen?

Amnorix
08-23-2011, 02:31 PM
I'll buy that for a dollar, for what it's worth. Obama craps nothing but roses, and his backers smell of apple pie.


Dude, your tinfoil hat is bigger than anybody's...

KILLER_CLOWN
08-23-2011, 02:31 PM
Dude, your tinfoil hat is bigger than anybody's...

Like Dude, really?

BigChiefFan
08-23-2011, 02:39 PM
Dude, your tinfoil hat is bigger than anybody's...

Yeah, he must be a huge crackpot, with points like the FED Reserve should be abolished. How dare he actually use intellect and reality to surmize the situation.

KILLER_CLOWN
08-23-2011, 02:49 PM
Yeah, he must be a huge crackpot, with points like the FED Reserve should be abolished. How dare he actually use intellect and reality to surmize the situation.

My biggest weakness is not hugging Obummers nuts, Amnorix and Orange have that covered quite well.

Amnorix
08-23-2011, 02:52 PM
My biggest weakness is not hugging Obummers nuts, Amnorix and Orange have that covered quite well.


I've repeatedly stated that Obama has not impressed me overmuch. I don't think he's a particularly bad President, but neither do I think he has done a very good job.

I don't taste of his testicles the way some do for their chosen favorites.

orange
08-23-2011, 03:04 PM
Yeah, he must be a huge crackpot, with points like the FED Reserve should be abolished. How dare he actually use intellect and reality to surmize the situation.

My biggest weakness is not hugging Obummers nuts, Amnorix and Orange have that covered quite well.

Obama has exactly _________________ to do with the FED Reserve.

a. nothing
b. everything

Fill in the blank.

orange
08-23-2011, 03:07 PM
Obama has exactly _________________ to do with the FED Reserve.

a. nothing
b. everything

Fill in the blank.

And while you're at it, please explain how supporting EACH AND EVERY POSITIVE, PROGRESSIVE CHANGE in the last century and a half, from Abolition on, is Obamabotery.

Stewie
08-23-2011, 03:31 PM
Obama has exactly _________________ to do with the FED Reserve.

a. nothing
b. everything

Fill in the blank.

Ask Robert Rubin.

orange
08-23-2011, 03:37 PM
Ask Robert Rubin.

http://cdn1.staztic.com/logos/conspiracy-theories-101-14.png

Taco John
08-23-2011, 03:37 PM
A dumb question for those who think that some kind of shadowy cabal of bankers run the world...

If so, then why is the CEO of what is quite possibly the most powerful bank in America, Goldman Sachs, hiring a lawyer and worrying about whether he may have criminal exposure as a result of the housing bubble fiasco?

http://content.usatoday.com/communities/ondeadline/post/2011/08/goldman-sachs-ceo-hires-lawyer-shares-drop/1


Surely if he's a member of the Illuminati...

This seems like a silly question to me. There is still a political system, no? It's taken how many years since the housing bubble fiasco has done damage, and how many cries from the public for how long before a banker finally feels enough pressure that he thinks it a good idea to hire a lawyer. Seems like this guy knows that he's about to be thrown into the gears of the machine.

For my part, I think this guy is pretty inconsequential. He's maybe a rook on the chessboard, who knows - maybe a bishop. But to pretend that there isn't an esoteric side of politics just for the fact that a banker CEO decided to cover his bases and get a lawyer seems incredibly naive.

Stewie
08-23-2011, 03:39 PM
http://cdn1.staztic.com/logos/conspiracy-theories-101-14.png

Nonsense. The Fed became very political under his watch. Hedonics and the like. It's not a big secret.

orange
08-23-2011, 03:45 PM
Nonsense. The Fed became very political under his watch. Hedonics and the like. It's not a big secret.

He never headed up the Fed. The Fed in NOT the Treasury. That's not a big secret, either. And as far as I can tell, Obama's never appointed him to anything.

Try again.

Stewie
08-23-2011, 03:48 PM
He never headed up the Fed. The Fed in NOT the Treasury. That's not a big secret, either. And as far as I can tell, Obama's never appointed him to anything.

Try again.

You're a fucking idiot. Read a goddamned book on the treasury, banks and the Fed.

orange
08-23-2011, 03:53 PM
You're a ****ing idiot. Read a goddamned book on the treasury, banks and the Fed.

You're a ****ing idiot squared. The FED is independent, it goes it's own way, often to the chagrin of Presidents/administrations. As for reading your books: http://cdn1.staztic.com/logos/conspiracy-theories-101-14.png

And can you point out - even in your books - what the Chairman of the Council on Foreign Relations has to do with the treasury, banks and the Fed? I'm sure he's pulling the strings somehow....

And I'll be more specific about my original question...

... did Obama create the FED?
... has Obama managed the FED?
... has Obama written 100 years worth of legislation revising how the FED operates?
... if Obama was not president, would the FED exist?
... when Obama was not president, has the FED ever existed?

Now then, in summary...

... is it possible to support the concept of the FED completely independent of support for or against Obama?

And of course ...
... how is "ask Robert Rubin" an answer to any of these questions?

Stewie
08-23-2011, 04:12 PM
You're a ****ing idiot squared. The FED is independent, it goes it's own way, often to the chagrin of Presidents/administrations. As for reading your books: http://cdn1.staztic.com/logos/conspiracy-theories-101-14.png

And can you point out - even in your books - what the Chairman of the Council on Foreign Relations has to do with the treasury, banks and the Fed? I'm sure he's pulling the strings somehow....

And I'll be more specific about my original question...

... did Obama create the FED?
... has Obama managed the FED?
... has Obama written 100 years worth of legislation revising how the FED operates?
... if Obama was not president, would the FED exist?
... when Obama was not president, has the FED ever existed?

Now then, in summary...

... is it possible to support the concept of the FED completely independent of support for or against Obama?

And of course ...
... how is "ask Robert Rubin" an answer to any of these questions?

There are so many ridiculous statements in this post I don't have time to address them all.

Did Obama created the Fed? No.
Has Obama managed the Fed? Yes, by being complicit in who is his Treasury Secretary and who runs the Fed. He has control over those positions.

You really need to study the case of Long Term Capital Management. They nearly brought the entire market down during the Clinton administration. It was fucking panic in Washington and Wall Street. Who was in the room to paper over the situation? The Fed, Robert Rubin and Goldman Sachs.

It was a game changer and made the Fed a political institution.

orange
08-23-2011, 04:19 PM
Did Obama created the Fed? No.
Has Obama managed the Fed? Yes, by being complicit in who is his Treasury Secretary and who runs the Fed. He has control over those positions. ...


BREAKING HOT: Angela Merkel killed six million Jews!

Stewie
08-23-2011, 04:25 PM
BREAKING HOT: Angela Merkel killed six million Jews!

Wow! Really? I'm sure you win every argument in your mind. Really?

You don't think those players are advising Obama? Look at his economic advisers since he's been in office. I know it takes some work, but I know you can do it... and maybe, and it's a BIG maybe, understand it. Nah! That's asking way too much.

petegz28
08-23-2011, 04:28 PM
U oh..A Huffington Post article on Government Sachs..

No wonder it's called "Government Sachs."

It seems that every few weeks, another Goldman Sachs executive goes to work for a government agency, with bankers landing in positions of power at the Treasury Department, the Federal Reserve, and pulling the levers of the massive trillion-dollar federal bailout.

At the same time, the bank, which announced on Tuesday that it was hiring former Securities and Exchange Commission Chairman Arthur Levitt, has received $10 billion in TARP funds.

This dual role - with former Goldman executives directing the financial rescue even as the bank took TARP funds - has aroused concern about potential conflicts of interest and excessive influence.

Goldman Sachs is "a political organization masquerading as an investment bank, and they're sitting at the table with the top people in government," says Goldman critic Christopher Whalen, the managing director of Institutional Risk Analytics, which rates banks and provides customer analytics. He calls Goldman "the most political firm on Wall Street."

Examples include former Goldman exec Henry Paulson, who led the Treasury Department when the bailout was first formulated last September, and who appointed former Goldman vice president Neel Kashkhari to oversee the massive $700 billion TARP fund. There is also the current Treasury Secretary Tim Geithner, who installed a circle of former Goldman bankers to help him navigate the country through the financial crisis.

The firm certainly knows how to work the corridors of power: Goldman's employees contributed more - $980,945 - to Barack Obama's presidential campaign than any other company.

And Goldman has more than 30 ex-government officials working as registered lobbyists on staff, including former House Majority Leader Richard Gephardt (D-Mo.) to represent its interests on issues related to TARP, according to Mother Jones.




Both admirers and detractors assert that Goldman's influence has only grown and that it has not always served the best interests of the government.

"People at Goldman are now at a much higher, much more visible level in government," says former Goldman vice president Lisa J. Endlich, who wrote "Goldman Sachs: The Culture Of Success".

Endlich thinks that the bigger issue, beyond Goldman, is the influence of Wall Street in the corridors of power. "They are all from the same world - whether it's Morgan Stanley or Goldman filling Treasury or the Fed with people with very similar world views."

Endlich says that the financial agencies used to be staffed by people from industry and academics, along with bankers. Given the widening gap between the salaries of Wall Street and Main Street in recent decades, the concentration of bankers at federal agencies means that they may be a little out of touch with the concerns of working people and businesses.

"There's a bit of a love affair with Wall Street," says Endlich, explaining that much of that is due to the complexity of financial instruments, from credit-default swaps to derivatives, now prevalent in the financial industry. "It's gotten so complete that we seem to only trust those who have worked in that world."

Whalen says that the firm has been adept at using their influence in Washington, D.C. to serve their own interests. "Getting the info before anyone else does and acting on it," he says, claiming that legendary Goldman chairman Sidney Weinberg used to sit in the office of Time magazine editor Henry Luce to soak up the latest tidbits of information.

Whalen claims that the firm was suffering in November and December, until they started "embedding themselves in this administration... When you saw the stock turn, it showed that they had established themselves sufficiently.. Their political stars were in alignment."

"Liar's Poker" author Michael Lewis claimed that Goldman's influence has a deep impact on the country's fiscal policy, especially during this financial crisis, during an interview with CNN's Fareed Zakaria on June 7:

And it is amazing to me the degree to which, say, Goldman Sachs is intertwined with the Treasury, and how they're -- there don't seem to be any independent voices in the thick of the decision-making. The decision-making is all being done by people who one way or another might expect to make a lot of money from Goldman Sachs in the future.

But Endlich asserts that there's a much more benign motives behind Goldman's revolving door: public service. Going back to Weinberg, who took a leave of absence to run FDR's war production board during World War II, she says that the firm has always emphasized taking a greater involvement in the community and contributing to charities.

Recalling her interviews with current New Jersey Governor Jon Corzine, Endlich noted that the firm always admired those who worked in public service. "Once you've reached the pinnacle of the business world, what else are you going to do? It's part of the DNA."

The firm itself likes to tout its legacy of public service - the 2005 annual report noted: "Goldman Sachs has a long tradition of public service. Many of our people have gone on to significant positions in government and the not-for-profit sector and their achievements are a source of pride for all of us."

The firm dismisses Lewis' comments and concerns about undue influence as "conspiracy theory gone mad."

Goldman spokesman Lucas van Praag argues that the firm is actually disadvantaged by having so many alumni in powerful positions.

"What benefit do we get from all these supposed connections?" he asks, in an interview with Huffington Post. "I would say we were disadvantaged from having so many alumni in important positions. Not only are we criticized - sticks and stones may break my bones but words do hurt, they really do - but we also didn't get a look-in when Bear Stearns was being sold and with Washington Mutual. We were runner-ups in the auction for IndyMac, in the losing group for BankUnited. If all these connections are supposed to swing things our way, there's just one bit missing in the equation."

Van Praag adds that government agencies have bent over backwards to avoid any perception of impropriety, explaining that when the firm's executives would meet with then-Treasury Secretary Paulson, "it was impossible to have a conversation with him without it being chaperoned by the general counsel of Treasury."

Take a look at this relationship map charting the revolving door between Goldman Sachs and the government:

http://www.muckety.com/4430BBF8627065190E640B4C9BCC7557.map

TREASURY DEPARTMENT
Henry Paulson: Served as Treasury Secretary under President George W. Bush.
Was CEO of Goldman from 1999 to 2006.

Robert Rubin: Served as Treasury Secretary under President Clinton.
Previously, he was co-chairman of Goldman from 1990 to 1992.

Robert K. Steel: Served as Under Secretary of the Treasury for Domestic Finance, the principal adviser to the secretary on matters of domestic finance and led the department's activities with respect to the domestic financial system, fiscal policy and operations, governmental assets and liabilities, and related economic and financial matters.
Retired from Goldman as a vice chairman of the firm in 2004, where he worked as head of equities for Europe and head of the Equities Division in New York.

Mark Patterson: Chief of Staff to Secretary Tim Geithner
Was director of government affairs at Goldman.

Dan Jester: Key adviser to Geithner, who played a key role in shaping the takeover of Fannie Mae and Freddie Mac.
Was strategic officer at Goldman.

Steve Shafran: Adviser helping to shape Treasury's effort to guarantee money market funds.
Was expert in corporate restructuring at Goldman.

Kendrick Wilson: Brought in to advise former Treasury Secretary Henry Paulson, another Goldman alum -- after a personal call from his old Harvard Business School classmate, George W. Bush -- to advise him on how to fix the financial markets. Paulson brought Wilson to Goldman in 1998 from Lazard Freres. Before that, Wilson was president of Ranieri & Co., which was established by Lew Ranieri. While at Salomon Brothers in the 1970s, Ranieri pioneered mortgage-backed securities, the exotic financial instruments that helped stoke the mortgage bubble. In other words, the man brought in to fend off a financial crisis appears to be a protege of one of the men who helped cause it.
Was senior investment banker at Goldman.

TARP
Neel T. Kashkari: Appointed by Paulson to oversee the $700 billion TARP fund and was considered Paulson's right hand man during the crisis, all at the tender age of 35. Kashkari was criticized for the lack of oversight of the funds disbursement, which he said would have been impossible since the funs are fungible. This assertion has been largely refuted by Neil Barofsky, the Special Inspector General for the Troubled Asset Relief Program. Kashkari was also responsible for recruiting Reuben Jeffrey.
Was technology investment banker for Goldman in San Francisco from 2004 to 2006.

Reuben Jeffrey: Selected by fellow Goldman alum Kashkari as the interim chief investment officer for the bailout. He was formerly the chairman of the CFTC, a role currently held by fellow Goldmanite Gary Gensler, as well as Under Secretary of State for Economic, Energy, and Agricultural Affairs.
Was executive for 18 years at Goldman, beginning in 1983.

Edward C. Forst: Left his post as executive vice president at Harvard to serve as an advisor on setting up TARP, but has since returned to the school.
Was global head of the Investment Management Division at Goldman for 14 years.

FEDERAL RESERVE
William Dudley: President of the Federal Reserve Bank of New York.
Was former chief economist and advisory director at Goldman where he worked from 1986 to 2007.

Stephen Friedman: Was chairman of the Federal Reserve Bank of New York until May 2009, when he was pressured to resign after buying Goldman shares in December and January. Previously, he was director of President George W. Bush's National Economic Council.
Joined Goldman in 1966 and was co-chairman from 1990 to 1994.

COMMODITIIES FUTURES TRADING COMMISSION
Gary Gensler: Appointed by Obama to head the CFTC. This was the commission headed by Brooksley Born in the late 1990's, when Alan Greenspan and Robert Rubin overruled her attempts to regulate credit-default swaps; fellow Goldmanite Reuben Jeffrey also held this position. Gensler worked in the Treasury Department as Assistant Secretary of the Treasury from 1997-1999 and as Under Secretary from 1999-2001, a position he received from Lawrence Summers.
Was partner in Goldman from 1979-1996

OTHER
Sonal Shah: Appointed to Office of Social Innovation and Civic Participation and an Advisory Board Member for the Obama-Biden Transition Project in 2008. Shah had previously held a variety of positions in the Treasury Department from 1995 to early 2002.
Was a former Vice President at Goldman from 2004 to 2007.

Joshua Bolten: Former chief of staff with the Bush administration as well as former director of the Office of Management and Budget until 2006.
Was executive director of Government Affairs for Goldman Sachs from 1994 to 1999. Bolten was instrumental in recruiting his fellow Goldman alum Henry Paulson as Treasury Secretary.

Jon Corzine: A strong supporter and political ally of Obama, Corzine is currently the governor of New Jersey. Before being elected governor, he served as the New Jersey representative to the U.S. Congress from 2001-2006, where he served on the Banking and Budget Committees.
Began working for Goldman in 1975 and worked his way up to chairman and co-CEO before being pushed out in 1998.

Robert Zoellick: Currently serves as president of the World Bank and previously was deputy secretary of state.
Was previously a managing director at Goldman, which he joined in 2006.

James Johnson: Was involved in the vice-presidential selection process for the Obama campaign and served as president and CEO of Fannie Mae.
Board member of Goldman.

Kenneth D. Brody: Was former president and chairman of the Export-Import Bank of the US.
Worked for Goldman for 20 years, founded and heading up its high-technology investment banking group and leading the firm's real-estate investment banking group.

Sidney Weinberg: Served as vice-chair for FDR's War Production Board during World War II.
The head of Goldman from 1930 to 1969, nicknamed "Mr. Wall Street," he worked his way up at the firm after starting as a $3-a-week janitor's assistant.

LOBBYISTS
Richard Gephardt: Was House Majority Leader from 1989 to 1995 and House Minority Leader from 1995 to 2003.
His lobbying firm was hired by Goldman to represent its interests on issues related to TARP.

Michael Paese: Former top staffer to Rep. Barney Frank, the chairman of the House Financial Services Committee.
Is Goldman's new top lobbyist. He will join the firm as director of government affairs - last year, that position was occupied by Mark Patterson, now the chief of staff at the Treasury Department. Paese has swung through the revolving doors several times - he previously worked at JPMorgan and Mercantile Bankshares and was senior minority counsel at the Financial Services Committee.

Faryar Shirzad: Former top economic aide to President George W. Bush and Republican counsel to the Senate Finance Committee.
He now lobbies the government on behalf of Goldman Sachs as the firm's Global Head of the Office of Government Affairs.

Richard Y. Roberts: Former SEC commissioner.
Now working as a principal at RR&G LLC, which was hired by Goldman to lobby on TARP.

Steven Elmendorf: Former chief of staff to then-House minority Leader Rich Gephardt.
Now runs his own lobbying firm, where Goldman is one of his clients.

Robert Cogorno: Former Gephardt aide and one-time floor director for Steny Hoyer (D-Md.), the No. 2 House Democrat.
Works for Elmendorf Strategies, where he lobbies for Goldman and Citigroup.

Chris Javens: Ex-tax policy adviser to Iowa Senator Chuck Grassley.
Now lobbies for Goldman.

GOVERNMENT - GOLDMAN
E. Gerald Corrigan was president of the New York Fed from 1985 to 1993. He joined Goldman Sachs in 1994 and currently is a partner and managing director; he was also appointed chairman of GS Bank USA, the firm's holding company, in September 2008.

Lori E Laudien: Former counsel for the Senate Finance Committee in 1996-1997
Has been a lobbyist for Goldman since 2005.

Marti Thomas: Executive Floor Assistant to Dick Gephardt from 1989-1998, he went on to serve in the Treasury Department as Deputy Assistant Secretary for Tax and Budget from 1998-1999, and as Assistant Secretary in Legal Affairs and Public Policy in 2000.
Joined Goldman as the Federal Legislative Affairs Leader from 2007-2009.

Kenneth Connolly: Was staff director of the Senate Environment & Public Works Committee).
Became a Vice President at Goldman in 2008.

Arthur Levitt: The longest-serving SEC chairman (1993 to 2001).
Hired by Goldman in June 2009 as an adviser on public policy and other matters

Stewie
08-23-2011, 04:35 PM
I'd love to stick around but it's time to fire up the grill...

petegz28
08-23-2011, 04:42 PM
<iframe width="560" height="345" src="http://www.youtube.com/embed/KMpJlNePSYE" frameborder="0" allowfullscreen></iframe>

petegz28
08-23-2011, 04:47 PM
Home » Daily Dispatches

John Crudele: Influence is in the bag for 'Government Sachs'


Submitted by cpowell on Fri, 2009-07-10 00:48. Section: Daily Dispatches

By John Crudele
New York Post
Thursday, July 7, 2009

http://www.nypost.com/seven/07092009/business/influence_is_all_in_the_ba...

When I last wrote about Goldman Sachs in late March, the most politically-connected and luckiest firm on Wall Street was in the middle of rigging the stock market -- again.

"Something smells fishy in the market. And the aroma seems to be coming from Goldman Sachs," is the way I put it in that March 28 column.

Well, a lot has changed in just the past few weeks. And I'd like to put it all together for you, and for the rest of the media should it choose to follow what is shaping up to be the most incredible financial story ever.

Back in March I noted that the rally occurring in the stock market had the indisputable fingerprints of Goldman all over it. There were numbers to back it up.

Despite the fact that regular investors seemed to be pulling their money out of the market or -- at best -- investing conservatively, stock prices were zooming. The reason was simple: Big investors were pouring money into equities.

And Goldman Sachs was the biggest of the big.

According to the New York Stock Exchange figures for the week of April 13 that I quoted, Goldman executed twice as many big trades -- called "program" trades by the industry -- as any other firm. And the bulk of the 1.234 billion shares bought by Goldman that week were paid for with the firm's own money.

Of course, Goldman would have to be mighty confident that stock prices were going up to risk so much of its own capital. Or, perhaps, it knew stocks would be rising.

This was the time, remember, when banks were trying to recapitalize by selling shares to the public. Goldman, you'll also recall, had turned itself into a bank holding company so it could take $10 billion in government money under the Troubled Asset Relief Program.

Goldman also sold billions worth of new stock to the public while all this was happening.

How much harder would it have been for banks to sell stock to nervous investors if the market was swooning rather than booming?

Goldman's sudden and inexplicable optimism about stocks was incredibly opportune for the banking industry in general, for Goldman in particular, and -- here's where the conspiracy starts to unfold -- for the government.

It's tough, however, to do what needs to be done to rescue the market when pesky journalists and annoying bloggers are looking over your shoulder.

So a couple weeks ago the NYSE suddenly announced that brokerage firms would no longer have to report their program trades. The new rule takes effect next week.

Convenient!

Wall Street and Washington have been playing footsie for decades.

Back in the late 1980s, President Reagan determined that the stock market was so vital to the country that he signed an executive order creating the President's Working Group on Financial Markets. What the president wanted from this group was unclear, but the precipitous drops in stock prices in 1987 and 1989 had made everyone nervous.

Soon afterward, Robert Heller, a former Federal Reserve governor, came right out and proposed what the president was probably thinking -- the stock market should be rigged in times of impending disaster. But instead of going through all the trouble of buying actual stock, as firms do in program trades, Heller suggested a shortcut -- the purchase of stock index futures contracts.

From that point on everyone suspected that Washington would jump in to calm the stock market whenever the waters got rough.

Goldman has so many top executives who've moved into government that the company is now not-so-affectionately called "Government Sachs."

Hank Paulson, the incompetent Treasury secretary during the last Bush administration, was a former chairman of Goldman. Paulson almost slipped about the cozy relationship Washington had with Wall Street when he was being interviewed on TV and blurted out that it was part of his job to speak frequently with "market participants."

No, it's not.

Was he tipping information to Goldman during these conversations, like interest-rate decisions? Was Goldman some sort of ex-officio government conduit?

The clincher came last week in the most bizarre and unexpected twist to this unpredictable decades-long tale.

Federal prosecutors accused a guy named Sergey Aleynikov of stealing proprietary "black box" computer codes from Goldman. The assistant U.S. attorney in charge of the case said the following in court: "The bank (Goldman) has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate the market in unfair ways."

What was Goldman doing with a program that could "ma nipulate the market in unfair ways"?

The answer: It was using it to manipulate the market.

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John Crudele is business columnist for the New York Post.

http://www.gata.org/node/7580