No matter what side of the fence you sit, you probably feel good about the curbs and restrictions and now even civil suits (the first filed Friday by the SEC against Goldman Sachs) coming down on banks and financial institutions, but don’t be fooled.
This is all carefully orchestrated to make you think the government has now after careful study and analysis finally figured out what went wrong causing the financial meltdown. This part is true -they knew all along. According the The NY Times,
“Goldman, the bank at the center of more concentric circles of economic and political power than any other on Wall Street, and others worked behind the scenes, bundling home loans into investments for sale to investors the world over confirming Americans’ worst suspicions about Wall Street: that the game is rigged, the odds stacked in the banks’ favor.”
But what some may not realize is all the while they are criticizing and splashing civil lawsuits in the media on the one hand, very publicly for show, on the other hand the are still paying off and deal-making with these very culprits. As the LA Times says,
“White House officials can’t bank on a sudden surge in the economy coming to their rescue for the midterm elections. So they are hoping they can redirect voter anger by accusing the GOP of coddling large banks.”
But don’t forget, Goldman Sachs employees donated nearly $1Million to get Obama elected. So, once again he talks a good game and it’s easy to get sucked in but as Obama is chastising big banks, hedge funds and the like in public you can be sure the backdoor stuff is still going on today after already giving them tons of doe-ray-me in TARP funds and other bailout money.
Ponder for a moment the number of former Goldman Sachs people in the Obama administration (just like Bush before him) or close to government- still working their deals. The list would include but is by no means complete:
- Henry Paulson -who held the late Sunday night meeting back in Sept 2008 with the big banks and said you will take these TARP funds or basically we’ll impose Marshall law, because otherwise the whole financial world will implode.
- Timothy Geithner, Treasury Secretary who made a few honest mistakes and failed to pay $Ks in back taxes (until he was caught)
- William C. Dudley, former GS employee is now Geithner’s replacement as President of the New York Fed.
- Mark Patterson, chief of staff for Geithner
- Jon Corzine, now governor of New Jersey
- Robert Zoellick, World Bank President
- Neel Kashkeri, former VP at GS, now IN CHARGE OF THE TARP BAILOUT!
- Robert Rubin was with GS and is now a lobbyist, but was under consideration for Treasury Secretary
- Adam Storch, a former GS VP was made COO of SEC Enforcement ( the fox guarding the henhouse)
Oh yes, one other slight indicator may be that the stock value of Goldman Sachs has increased from$53.31 a share when Obama was elected to$163.18 today, even after a 13% hit Friday after the civil suit was announced.
As Cameron Reilly of The Huntville Times says,
“The people with the money buy the power. They also buy the media. Go back to sleep, America. Goldman Sachs is in control.”