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All the president’s Goldman Sachs men

By Michelle Malkin  •  April 21, 2010 05:51 AM
My syndicated column today shines light on all the Goldman Sachs company men in the Obama administration’s midst. The GOP wants SEC correspondence disclosed. Here’s that story. In related news, Goldman Sachs cheerleader and beneficiary Rahm Emanuel met with NYC business elite about the financial reform plan. Listen up:
Another attendee, who spoke anonymously to discuss remarks that were intended to be private, said the chief-of-staff emphasized that there was a “12-week legislative calendar” to get the administration’s main goals accomplished.
Related must-read from Conn Carroll at The Foundry: The Crony Capitalist Threat to Our Economic Freedom.
***
All the president’s Goldman Sachs men
by Michelle Malkin
Creators Syndicate
Copyright 2010
While President Obama assails the culture of greed and recklessness practiced by the men of Goldman Sachs, his administration is infested with them. The White House can no more disown Government Sachs than Da Boss-in-chief can disown Chicago politics.
Obama is headed to Wall Street on Thursday to demand “financial regulatory reform” — just as the U.S. Securities and Exchange Commission has filed civil suit against Goldman Sachs for mortgage-related fraud. Question the timing? Darn tootin’. There are no coincidences in the perpetually orchestrated Age of O. Everyone from disgraced former New York Attorney General Eliot Spitzer to analysts at the Brookings Institution and Barclays Capital to the GOP leadership and Rush Limbaugh has noted the reeking political opportunism in the air.
As the New York Post reported Tuesday, the Democratic National Committee immediately bought sponsored Internet ads on Google that direct web surfers who type in “Goldman Sachs SEC” to Obama’s fundraising site. “It’s time to hold the big banks accountable,” the money-grubbing DNC message bellows. But just like his crony capitalist predecessor George W. Bush, Obama has relied on Goldman Sachs and Wall Street power brokers to engineer massive government interventions to “rescue” failing businesses with the tax dollars of ordinary Americans.
While irony-challenged Democratic candidates like mob-linked banker Alexi Giannoulias in Illinois (who hopes to fill Obama’s old Senate seat) call on Republicans to return their fat-cat Goldman Sachs donations, the Democrats are silent on the $994,795 in Goldman Sachs campaign cash that Obama bagged. The class-warfare Dems are also mum on all the president’s Goldman Sachs men sitting in the catbird’s seat:
– Goldman Sachs partner Gary Gensler is Obama’s Commodity Futures Trading Commission head. He was confirmed despite heated congressional grilling over his role, as Reuters described it, “as a high-level Treasury official in a 2000 law that exempted the $58 trillion credit default swap market from oversight. The financial instruments have been blamed for amplifying global financial turmoil.” Gensler said he was sorry — hey, it worked for tax cheat Treasury Secretary Tim Geithner — and was quickly installed to guard the henhouse.
– Goldman Sachs kept White House Chief of Staff Rahm Emanuel on a $3,000 monthly retainer while he worked as Clinton’s chief fundraiser, as first reported by Washington Examiner columnist Tim Carney. The financial titans threw in another $50,000 to become the Clinton primary campaign’s top funder. Emanuel received nearly $80,000 in cash from Goldman Sachs during his four terms in Congress — investments that have reaped untold rewards, as Emanuel assumed a leading role championing the trillion-dollar TARP banking bailout law.
– Former Goldman Sachs lobbyist Mark Patterson serves under Geithner as his top deputy and overseer of TARP bailout — $10 billion of which went to Goldman Sachs. Left-leaning government watchdog Melanie Sloan of the Citizens for Responsibility and Ethics in Washington responded: “It makes it appear that they are saying one thing and doing another.” Paul Blumenthal of the Sunlight Foundation noted that, while at Goldman Sachs, Patterson lobbied against executive pay limits that Obama had crusaded for as senator (before, that is, his administration carved out exemptions for AIG). While Patterson agreed to recuse himself on any Goldman Sachs-related issues or related policy concerns, Blumenthal wrote, it “still creates a serious conflict for Geithner, as Treasury is being partly managed by a former Goldman lobbyist. Geithner is also placed in a tough position considering that his chief of staff is limited in the areas in which he can work (supposedly).”
– Obama’s close hometown crony, campaign finance chief and senior adviser Penny Pritzker was head of Superior Bank of Chicago, a subprime specialist that went bust in 2001, leaving more than 1,400 people stripped of their savings after bank officials falsified profit reports. Pritzker’s lawyer at O’Melveny and Myers, Tom Donilon, is now Obama’s deputy national security adviser. He earned just shy of $4 million representing her and other high-profile meltdown clients including Goldman Sachs.
– White House National Economic Council head Larry Summers reaped nearly $2.8 million in speaking fees from many of the major financial institutions and government bailout recipients he now polices, including JP Morgan Chase, Citigroup, Lehman Brothers and Goldman Sachs. A single speech to Goldman Sachs in April 2008 brought in $135,000. Summers has prior experience negotiating government-sponsored bailouts that benefit private concerns. In 1995, he spearheaded a $40 billion Mexican peso bailout that bypassed Congress. Summers personally leaned on the International Monetary Fund to provide nearly $18 billion for the package. Summers’ boss, then Secretary of the Treasury Robert Rubin, was former co-chairman of Wall Street giant Goldman Sachs — the Mexican government’s investment banking firm of choice.
Rubin continues to mentor another former employee of his with regular visits and chats — Treasury Secretary Geithner, who was head of the New York Federal Reserve, which pushed bailed-out insurance conglomerate AIG to cover up sweetheart deals for investment banks that benefited, you guessed it, Goldman Sachs.
As Obama harangues Wall Street to clean up its house, all the president’s Goldman Sachs men have their feet on the coffee table at his.

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Trackbacks

  1. Obama’s jackboots squash freedom of press « GOP Counterculture
  2. Wizbang
  3. About Those Goldman Sachs Charges… « Tai-Chi Policy
  4. Dave Lucas’ Notes
  5. Sachs Will Sack Republicans Unless They Denningerize
  6. Volcanic Bill Clinton And The Tea Party Movement, Part II — Hillary Is 44
  7. Barack Loves Golf « Jim Blazsik
  8. There’s no history of anything until it happens. Then there is — AFTER THE TEA PARTY RESPONSE. « Temple of Mut
  9. Caught: White House Political Collusion in SEC Investigation. White House Wants Unlimited Bailout and Siezure Power. Can anyone be trusted with that much power? UPDATE – « The IUSB Vision Weblog
  10. There’s Gold(man) in Them Thar Hills « Finding Ponies…
  11. ALL OF OBAMA”S GOLDMAN SACHS BUDS
  12. Political crosshairs on Goldman Sachs | Asian Conservatives
  13. Goldman Sachs and Team Obama: The perp walk is a revolving door « DPGI
  14. White House’s Goldman Ties With MMalkin | Chicagoan’s Conservative Chronicles
  15. Is Goldman Sachs Obama’s Eron? | KimPriestap
  16. Maggie’s Farm

Comments


  1. #103
    On April 22nd, 2010 at 7:52 am, mytake said:
    When they take away the large salaries on Wall Street New York City will turn into Detroit, not even a “nice place to visit”. There is supposed to be all this “outrage about Wallstreet. This can’t backfire soon enough!!!!
  2. #104
    On April 22nd, 2010 at 8:00 am, mytake said:
    It’s up to the stockholders to control salaries and bonuses, not Obama and his ilk. Destroy Wall Street and destroy New York City. Capitalism works, crony capitalism is bad and appears to be wrapped so tightly around the Democrats that they can’t and won’t be able to proceed honestly.
  3. #105
    On April 22nd, 2010 at 9:00 am, ArizonaNeanderthal said:
    When Barney Frank made his remark “there will be “There will be death panels enacted by this Congress, but they will be for non-bank financial institutions that will not be considered too big to die” the Boy Toy Tim Geitner thought it was funny. But one big government controlled state bank is essential to the collectivist goal of total power.
  4. #106
    On April 22nd, 2010 at 9:29 am, RedDog said:
    Why are they not all on trial right now? They should be in federal prison already.
    “When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn.”

    Proverbs 29:2
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