To top officials at the Clinton Treasury Department, the so-called Monthly Income Preferred Shares, or MIPS, looked like a charade - a way for companies to mask the size of their debt while cutting their federal tax bill. And guess who was CEO at the time? When Treasury resisted, a letter, signed by Jon Corzine, then chief executive officer of Goldman Sachs, portrayed the Treasury as attempting to draw “completely arbitrary” lines between debt and equity. Of course, MIPS would make failing companies look better on the books and Goldman Sachs more money. Eventually, the federal government acquiesced to the arrangement.
Regarding the Clinton Treasury connection, didn't Corzine replace Robert Rubin at Goldman Sachs about the same time Rubin--who had previously left Sachs to become President Clinton's assistant for economic policy--became Treasury Secretary in late 1994? (In checking this, I'm seeing in my notes that Rubin was recommended for that position by his predecessor Lloyd Bentsen--does Bentsen have any Sachs/Enron ties?) I also see that as of the 2004 campaign Goldman Sachs was Kerry's 10th largest career patron and Edwards' 6th largest. And I'm finding this from one of your posts on an old thread:
George Soros, Media Connections - Bump List
George Soros Pharmaceutical Company has sitting board member from Gannett Press: Perseus-Soros BioPharmaceutical Fund, LP: James A. Johnson: James A. Johnson is Vice Chairman of Perseus. . .He also serves on the board of the following organizations: Gannett Co., Inc.; The Goldman Sachs Group, Inc.; KB Home; Target Corporation; Temple-Inland, Inc.; and UnitedHealth Group. . .
Not sure how this all fits together, but at a glance it seems like there's some overlap between Sachs and the (New Jersey-centered) health care lobby's financiers and political supporters.
Nice find---additional research will prove interesting.
>>>>does Bentsen have any Sachs/Enron ties?
Yes, we had a thread or too on that here. I think it was an IBD article I posted if my memory serves correctly. I was following all of this with the Global Crossing deal.
I will do searches shortly, trying to get the kids ready to go back to school for tomorrow.
PTTTTT, are you on? Do you have any links handy?