Goldman Sachs always has clout in Washington, as evidenced by the firm’s alumni serving as Treasury secretaries under both Presidents Bush and Clinton. Today, in these tumultuous times of bailouts and meltdowns when the investment banking leviathan needs Washington more than ever before, Goldman can leverage its most valuable asset yet—incoming White House chief of staff Rahm Emanuel.
Goldman Sachs is the giant of Wall Street, and more than any other investment bank, Goldman is surviving the current financial storm.
Traditionally a Democratic booster, and one of Barack Obama’s top sources of funds in this past election, Goldman has always had some particularly strong allies within government.
Emanuel is one such ally. An interesting early chapter in the Goldman-Emanuel relationship took place in the setting of Bill Clinton’s campaign for the White House in 1992. Clinton hired Emanuel as his chief fundraiser. At the same time, however, Emanuel was on the payroll of Goldman Sachs, receiving $3,000 per month from the firm to “introduce us to people,” in the words of one Goldman partner at the time. This is certainly a noteworthy relationship, but it’s one that has almost entirely escaped scrutiny. (snip)
In his four terms in Congress, Emanuel has raised $74,750 from Goldman, making the firm his number four source of funds.
Goldman has helped Emanuel. How has Emanuel helped Goldman? The most obvious answer, as mentioned in this column two weeks ago, is in Emanuel’s lead role in shepherding the “$700 billion” bailout—first proposed by former a Goldman CEO, Bush Treasury Secretary Henry Paulson—through the skeptical House.
Of course, back in the Clinton days, Goldman benefited from NAFTA and the bailout of the Mexican currency, with Emanuel pushing NAFTA through Congress, and Rubin hammering out the peso bailout.
Did Goldman improperly funnel money to the Clinton campaign by subsidizing Emanuel’s salary in 1992? Did Goldman’s help to Clinton spur the Democratic president to push NAFTA and the Mexican bailout?
The answers to these questions are opaque, and with Emanuel burrowed deep within the Obama White House, the continued relationship between Goldman Sachs and Obama’s right hand man won’t be easy to follow.
Watch which regulations of Wall Street Obama fights for. Watch where the bailout money goes. And don’t be surprised to see Goldman soon sitting pretty once again.
SOURCE http://www.washingtonexaminer.com/opinion/columns/TimothyCarney/
Probably be easier to have a list of who doesn’t have a connection to GS.
Clinton - BUSH — and the impostor’s administrations? -—NOPE—it’s been 16 + years of the Goldman Sachs administration.
http://gdayworld.thepodcastnetwork.com/2009/11/27/the-goldman-sachs-administration-1993/
Which means sixty four percent of American citizens are being bludgeoned out of the middle class without even having an inkling.
And because "Republicans" in Washington DC who know (including GWB incidentally), refuse to talk.
Incidentally, father GHWB in his last speech (Houston) after being manipulated out, said something like" "hold on to your wallet."
Johnny Suntrade
cliffnotes:
1. (Barack Obama)
2. Joe Biden
3. Robert Altman
4. Lael Brainard
5. Warren Buffett
6. Hillary Clinton
7. Gregory Craig
8. Thomas Donilon
9. Bill Dudley
10. Douglas Elmendorf
11. Rahm Emanuel
12. Diana Farrell
13. Stephen Friedman
14. Michael Frohman
15. Jason Furman
16. Anne Fudge
17. Mark Gallogly
18. Timothy Geitner
19. Gary Gensler
20. Michael Greenstone
21. “The Hamilton Project”
22. Robert Hormats
23. Neel KashKari
24. Karen Kornbluh
25. Jacob “Jack” Lew
26. David Lipton
27. Eric Mindich
28. Peter Orszah
29. Mark Patterson
30. Steve Rattner
31. Robert Reischauer
32. Alice Rivlin
33. James Rubin
34. Robert Rubin
35. Gene Sperling
36. Adam Storch
37. Larry Summers
BTW, if you leave a job in the private sector and are appointed to a public sector position such as the FED, Treasury, White House ETC...
YOU pay NO TAXES on any bonus you receive.
That’s racist