Paulson: "Thank you, Mr. President, for making billionaires of every friend I have at Goldman Sachs.
And thank you for throwing the election to my candidate, Barack Hussein Obama."
Posted on 10/16/2008 5:29:25 AM PDT by reaganaut1
As Goldman Sachs alumni play a key role in stewarding the nation’s economy, it’s worth recalling that the late economist John Kenneth Galbraith blamed Goldman Sachs for helping to cause the Great Depression. In his book, The Great Crash, 1929, Galbraith, a key figure in President John F. Kennedy’s administration, devoted an entire chapter he titled “In Goldman, Sachs, We Trust,” to detailing the “large-scale corporate thimblerigging” that Goldman and other Wall Street firms practiced in the 1920s.
Thimbleriggers or not, supremely self-assured Goldman Sachs alumni at the highest levels of the Bush administration are now pulling the levers of power in the nation’s capital, confident that they know the way out of the current market turbulence.
...
The politics of the company, founded in 1869, have long skewed left.
Goldman promotes its interests relentlessly. It has given even more money to political candidates than the famously deep-pocketed Association of Trial Lawyers of America (recently renamed American Association for Justice, with apologies to George Orwell) and is the fourth-largest political donor overall. The bank shelled out $29,588,362 over the past 20 years, mostly to Democrats, according to the Center for Responsive Politics. ABC News reported Sept. 26 that since 1989 Goldman employees have spent more than $43 million dollars on lobbying and campaign contributions to cultivate friends in Washington.
Goldman Sachs also has a history of caving in to left-wing pressure groups, such as Jesse Jackson’s Citizenship Education Fund and the extremist Rainforest Action Network (RAN). Its corporate foundation’s donations go exclusively to the left, according to a study that appeared in the August 2006 Foundation Watch.
In 2004 the Goldman Sachs Foundation gave $35.5 million to liberal non-profit groups, mostly to environmental organizations such as the Nature Conservancy and the Wildlife Conservation Society.
(Excerpt) Read more at spectator.org ...
Paulson: "Thank you, Mr. President, for making billionaires of every friend I have at Goldman Sachs.
And thank you for throwing the election to my candidate, Barack Hussein Obama."
Schumpeter, Schumpeter, Schumpeter!
If there were ever corporate entities that needed to be broken up and replaced in the natural cycle of healthy capitalism we have seen them.
Saving them at the taxpayers’ expense makes no sense at all; it is to reward the destruction of that which made us a world leader before they created their empires of incompetence based on replacing contract with status.
signed,
Corzine denizen
Clinton treasury man Robert Rubin.
$700 billion and counting-——G/S Paulson put in his G/S henchman Neel Kashkari to salivate over the $700 Billion bailout bucks.
Mmmmm........mfg is not gonna be able to keep up with the demand for G/S insiders ordering $250,000 Patek Phillipe watches.
Obama, Barack (D-IL) $691,930
Clinton, Hillary (D-NY) $468,200
Romney, Mitt (R) $229,675
McCain, John (R-AZ) $208,395
Himes, Jim (D-CT) $114,748
Giuliani, Rudolph W (R) $111,750
Dodd, Christopher J (D-CT) $105,400
Edwards, John (D) $66,450
Specter, Arlen (R-PA) $47,600
Emanuel, Rahm (D-IL) $32,950
Reed, Jack (D-RI) $30,100
As much as I hate it when McLame says it, there is a problem of greed and corruption on Wall Street and government. If he had fortitude, he would have opposed the bailout and brought this up. But the Country Clubbers wou;dn’t like it, so no real reform our straight talk.
But somehow the notion that Wall Street is Republican still exists.
Wall Street will steal every last penny from Main Street if it preserves their financial status.
I went to school with Sachses (yes, descendants of Samuel and Louisa) and have a family summer home in the Hamptons. The idea that these people are Republicans is a non-sequitor. The old WASP establishment on Wall Street is all but dead and the remained are hollowed out by political correctness. Many are so rich as not to care about taxes.
The Dems will continue to perpetuate that myth, the same Dem leadership which pushed the Big Banking (taxpayer) bailout. The Goldman Sachs crowd cares only about one thing, not the security of the nation, not the financial health of main street, but their fattening their numbered Swiss accounts.
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