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The Great American Bubble Machine
Rolling Stone Magazine ^ | June 9th, 2009 | Matt Taibbi

Posted on 06/26/2009 8:44:09 AM PDT by fightinbluhen51

From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression -- and they're about to do it again -~&~-

The FIRST THING YOU NEED TO KNOW about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled-dry American empire, reads like a Who's Who of Goldman Sachs graduates. By now, most of us know the major players. As George Bush's last Treasury Secretary, former Goldman CEO Henry Paulson was the architect of the bailout, a suspiciously self serving plan to funnel trillions of Your Dollars to a handful of his old friends on Wall Street. Robert Rubin, Bill Clinton's former Treasury secretary, spent 26 years at Goldman before becoming chairman of Citi group - which in turn got a $300 billion taxpayer bailout from Paulson. There's John Thain, the asshole chief of Merrill Lynch who bought an $87,000 area rug for his office as his company was imploding; a former Goldman banker, Thain enjoyed a multibillion- dollar handout from Paulson, who used billions in taxpayer funds to help Bank of America rescue Thain's sorry company. And Robert Steel, the former Goldmanite head of Wachovia, scored himself and his fellow executives $225 million in golden parachute payments as his bank was self-destructing.

(Excerpt) Read more at files.posterous.com ...


TOPICS: Business/Economy; Crime/Corruption; Government
KEYWORDS: bailouts; bankers; bigmoney; bubblemafia; corruption; goldman; goldmansachs; jpmorgan; matttaibbi; obama; wallstreet
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Don't worry, this article does not solely slam Bush, it also slams Obama, which is shocking for the source.

Be aware, that this is in the current issue, and I find this PDFed. It need to be out there and out there today as it looks in depth at the new cap and trade bill too, calling it an engineered market by the big money lobby of the Goldman Sachs investment bankers. Also looks in depth @ the oil contracts trading.

1 posted on 06/26/2009 8:44:09 AM PDT by fightinbluhen51
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To: fightinbluhen51

acess denied

dastardly Gelded Sachs strikes again


2 posted on 06/26/2009 8:46:21 AM PDT by silverleaf ("Never forget that everything Hitler did in Germany was legal ( Martin Luther King))
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To: fightinbluhen51

EPIC XML LINK FAILURE!


3 posted on 06/26/2009 8:46:38 AM PDT by frogjerk (C-NJ)
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To: fightinbluhen51

Link doesn’t work?


4 posted on 06/26/2009 8:47:01 AM PDT by mojitojoe (All tyranny needs to gain a foothold is for people of good conscience to remain silent.)
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To: fightinbluhen51

This is one reason why we should have let all the big financial institutions stand or fall on their own. There is no great benefit for us that they stand and it has cost us dearly. First there was the Bush stimulus and then Obama got in and slammed spending into hyper drive and in a matter of months has far exceeded the excesses of the Bush Administration by several orders of magnitude. He has already spent far more than the combined cost of the War and Iraq and the Afghanistan for the entire duration of those wars. The scope and audacity of it beyond insanity. He is driving America off a financial cliff and he is now planning to nuke the economy with the biggest tax in history.


5 posted on 06/26/2009 8:52:33 AM PDT by Maelstorm (Sarah Palin 2012 (Who else in the GOP is man enough?))
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To: fightinbluhen51

Smells like another anti-capitalist rant from The Rolling Stoned. The great stinking life-sucking leech clamped onto the a** of humanity is socialism.


6 posted on 06/26/2009 8:54:48 AM PDT by LibWhacker (America awake!)
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To: fightinbluhen51

Ping me if you get the link back up. I’m glad someone is finally exposing GS. I would be very interested to know how many Enron traders found homes with GS.


7 posted on 06/26/2009 8:54:49 AM PDT by Entrepreneur (The environmental movement is filled with watermelons - green on the outside, red on the inside)
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To: fightinbluhen51

If you do a little googling you see that Goldman Sachs has already responded to to Taibbi


8 posted on 06/26/2009 8:55:23 AM PDT by Ben Ficklin
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To: Ben Ficklin

If Goldman Sachs stands to make a lot of money...join the fun and buy some. GS on the NYSE. Buffett stands to gain.


9 posted on 06/26/2009 8:57:09 AM PDT by Oldexpat
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To: fightinbluhen51

....no surprise here...the Rolling Stone has hated capitalism forever....not withstanding that our system has made Jann Wenner(founder of RS) a very,very rich man indeed...here’s Jann and his butt buddy’s new digs:
http://realestalker.blogspot.com/2008/02/jann-wenners-little-bit-country.html


10 posted on 06/26/2009 8:57:47 AM PDT by STONEWALLS
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The financiers LOVE the current arguments about socialism vs capitalism. What we have is neither.... it is almost a feudal system where a few financial oligarchs control everything. While everyone argues about rearranging deck chairs, the Oligarchy robs us blind AND gets complete power.

What a deal..and few care, and few still even understand what is happening. I wonder how many people even know the Fed is private?


11 posted on 06/26/2009 8:59:16 AM PDT by Crimson Elephant
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To: frogjerk

Sorry,

http://bigpicture.posterous.com/goldman-sachs-the-great-american-bubble-machi

If you have flash, that should work, else there’s the PDF


12 posted on 06/26/2009 9:04:20 AM PDT by fightinbluhen51 ("MOLON LABE")
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To: LibWhacker

Don’t get me wrong, I don’t like the Rolling Stoned either, but Rick Santilli was talking about this article this morning. All the buzz on the floor of the CME.

Very interesting parallels. If you don’t believe in coincidences, then, this will intrigue your mind. You have to read the entire thing.


13 posted on 06/26/2009 9:06:06 AM PDT by fightinbluhen51 ("MOLON LABE")
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To: LibWhacker; STONEWALLS
The theivery and graft committed by Goldman Sachs et al has nothing to do with "capitalism" or any bias by Rolling Stone.

Buying political influence and getting set up to make windfalls off the cap and trade scam is not "capitalism."

Engaging in merchantilism and robbing us and our children (like when GS, through Paulson, laundered 13 billion of taxpayer funds through the AIG scam) is not "capitalism."

If any of you consider the ongoing mafia scam perpetuated by the incestuous GS/Fed/Treasury cronies "capitalism," then I don't want your version of capitalism. Nor would any, decent intelligent American if they understood it.

14 posted on 06/26/2009 9:15:37 AM PDT by AAABEST (And the light shineth in darkness: and the darkness did not comprehend it)
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To: Entrepreneur

Pinged, for the link above, you need flash or Acrobat Reader


15 posted on 06/26/2009 9:16:01 AM PDT by fightinbluhen51 ("MOLON LABE")
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To: fightinbluhen51

Two of Goldman Sachs brightest stars manage Al Gore’s Generation Investment Management LTD based in the UK. This multi-billion-dollar investment fund two years ago got the Church of England’s financial board to invest $200 million.


16 posted on 06/26/2009 9:17:35 AM PDT by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
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To: Maelstorm

The gummint’s buddies get subsidized, the rest of us get sodomized............


17 posted on 06/26/2009 9:21:34 AM PDT by Quickgun
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To: Crimson Elephant
You are right on all counts...most Americans are too fat, too ignorant, too dumb, too lazy...to many too’s to even care...

The ones I feel the most sorry for are the ones who have fought, continue to fight and have died for this great land. Their sacrifices are being spit on by the current populace of this country and it's good for excrement leadership in business and government.

Just my two cents...

18 posted on 06/26/2009 9:23:35 AM PDT by mr_hammer ("Before you were formed in the womb, I knew you")
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To: AAABEST
The theivery and graft committed by Goldman Sachs et al has nothing to do with "capitalism" or any bias by Rolling Stone.

Sure, there's plenty of graft and corruption and it's sickening, but I'm not about to read a whole lot Tabibi writes about it.

HOw can you say there's no bias here or hatred of capitalism? The article reeks of it. Just pay attention to the tone and language. Have you read anything else by this guy? The POS went to Leningrad State, for crying out loud, no kidding, and that's just for starters. Honestly, Marx could write a more objective piece.

19 posted on 06/26/2009 10:09:04 AM PDT by LibWhacker (America awake!)
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To: AAABEST
For instance, here's on of his articles from last year. As one of the posters says, the man's a total leftist tool.
20 posted on 06/26/2009 10:15:37 AM PDT by LibWhacker (America awake!)
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To: LibWhacker
HOw can you say there's no bias here or hatred of capitalism?

Perhaps I wasn't clear.

My contention isn't that Rolling Stone and/or the author aren't pinkos. It's that their pinko-ism is irrelevant to the objective facts laid out in the article.

IOW, it wouldn't matter if Marx himself wrote the piece. The fact remains that the Goldman Sachs (et al) Syndicate is a parasitic structure that thrives by sucking life and production from hapless American families. They do it largely through buying political influence and exploiting Washington cronyism.

Today's "cap & trade" scam is just one lone example. If GS and GE didn't stand to make a fortune from it, it would be happening. However, now our kids get to pay, and their kids get rich. Our kids also get to pay for the 13 bil of taxpayers money they laundered through AIG a la' Paulson also.

Am I making any more sense?

21 posted on 06/26/2009 10:25:44 AM PDT by AAABEST (And the light shineth in darkness: and the darkness did not comprehend it)
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To: AAABEST
If GS and GE didn't stand to make a fortune from it, it would be happening.

*wouldn't*

22 posted on 06/26/2009 10:26:53 AM PDT by AAABEST (And the light shineth in darkness: and the darkness did not comprehend it)
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To: LibWhacker

He may be a leftist fool, and it may have a bias, but if you read the whole article, he even states “this isn’t free market.”

The facts are there, if you choose to ignore them, than I can’t help.


23 posted on 06/26/2009 10:35:40 AM PDT by fightinbluhen51 ("MOLON LABE")
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To: AAABEST
You always make sense, AAA, thanks! :-)

It's an appalling situation, that's for sure. I'm sick over it. Between its homegrown leftists and all the thieving SOBs in high places, America may have just met its match.

24 posted on 06/26/2009 10:37:38 AM PDT by LibWhacker (America awake!)
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To: fightinbluhen51

No one’s ignoring any of the facts. I know the market isn’t free. But I’ll get my facts elsewhere, thanks. I’m sure they’ll survive. No reflection on you whatsoever, fightinblu, implied or explicit. I just can’t tolerate the man.


25 posted on 06/26/2009 10:46:53 AM PDT by LibWhacker (America awake!)
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To: AAABEST

Well said.

GS has far too much power and they will wreck everything if they are not stopped.


26 posted on 06/26/2009 10:53:54 AM PDT by crazycat
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To: LibWhacker

free republic salute to you :-).

I understand, that’s why I prefaced my disgust and distaste for the Rolling Stoned as well.


27 posted on 06/26/2009 10:56:56 AM PDT by fightinbluhen51 ("MOLON LABE")
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To: fightinbluhen51

The SEC just requested a copy of the new movie about this called Stock Shock. Finally doing something pro-active!!!! Article here:
http://satwaves.com/blog/2009/06/26/sec-investigating-illegal-naked-short-selling/


28 posted on 06/26/2009 12:49:00 PM PDT by Denise Hubbard (stock shock sec)
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To: fightinbluhen51

This is why we’re screwed. The truth will alwasy tarnish both sides of the political aisle, and some (if not most) will not stand for their sacred cows being slaughtered. So the truth is ignored, and the inevitable marches on.


29 posted on 06/27/2009 12:15:50 PM PDT by Wolfie
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To: fightinbluhen51
This is one of the most important articles I've read in the last few years, and one that every free person in America should read.

Bernie Madoff was a piker compared to these guys.

30 posted on 07/01/2009 3:54:55 PM PDT by jpl (Help us Obambi Wan Kenobi, you're our only dope.)
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To: LibWhacker
Nope... you NEED to read the complete article... and you need to make a little time to read it through... Goldman Sachs really reamed the taxpayers... the insurance companies... the institutional investors... with their scams.

And if you were paying over $4.00 a gallon for gas last summer... guess what? Goldman Sachs was behind it... at the time oil rose to $147 a barrel... the demand for oil was declining and the stockpile of oil was increasing... in short... the commodity market should have worked and lowered the price of oil... instead... oil went from $60 a barrel to $147 a barrel...

And that was only one bubble that was created by Goldman Sachs... the writer exposed 5 of them and the future 6th bubble that will dwarf them all... cap 'n trade... carbon credit commodity markets...

You NEED to read that full article... not the excerpts... and believe me... you WILL get pissed at GS...

31 posted on 07/25/2009 5:25:41 PM PDT by John123 (Turn on your teleprompter Obama and read your lips... "No New Taxes!!")
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To: jpl
Bernie Madoff was a piker compared to these guys.

I just finished reading the complete article and boy! I was pissed... my neighbor actually heard me muttering in the back porch and came over to ask me why... LOL!!

Seriously... Goldman Sachs is screwing everyone royally... and get this... in 2008 alone... guess how much taxes they paid? LESS THAN 1 freakin' percent!!

They screwed everyone in United States with their schemes... and then shipped off their revenues to low tax countries...

32 posted on 07/25/2009 5:28:47 PM PDT by John123 (Turn on your teleprompter Obama and read your lips... "No New Taxes!!")
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To: AAABEST
Our kids also get to pay for the 13 bil of taxpayers money they laundered through AIG a la' Paulson also.

Absolutely... everyone on FR should be reading the complete article... boy, I'm really steamed about this... I remember how much I had to pay to gas up my truck last year...

And GS just gets a hand slap and to add insult to injury... GS just ships their revenues offshore and paid less than 1% in taxes... grrrr!

33 posted on 07/25/2009 5:32:47 PM PDT by John123 (Turn on your teleprompter Obama and read your lips... "No New Taxes!!")
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To: AAABEST

Good post.


34 posted on 07/25/2009 5:33:53 PM PDT by Richard Kimball (We're all criminals. They just haven't figured out what some of us have done yet.)
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To: hennie pennie

bookmark


35 posted on 12/01/2009 9:06:13 AM PST by hennie pennie
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To: FromLori
*ping*

note: this article was posted several times

36 posted on 12/01/2009 9:11:15 AM PST by hennie pennie
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To: hennie pennie

Your going to get a kick out of this one

http://www.businessinsider.com/vanity-fair-talks-about-the-marc-spilker-shrubbery-incident-2009-12


37 posted on 12/01/2009 2:41:26 PM PST by FromLori (FromLori)
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To: CondoleezzaProtege

How does Palin fight these kind of multi-billionaires?


38 posted on 12/17/2009 4:52:23 PM PST by hennie pennie
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To: hennie pennie

I know what you mean. I’ve been thinking the same thing. Well Romney already lost once—even with all that money, doesn’t mean he can’t lose again!

here are a few things for starters:

1) Palin already has the advantage of having gone through the harshest parts of the media meat grinder. So there honestly aren’t any more smears left that’ll resignate with the public—I don’t even think her resignation will matter to voters that much.

2) She understands the media better now and she’ll work all the tools at her disposal (facebook, youtube, talk radio) to her advantage. She also has a very LOYAL grassroots base, who will be willing to donate money (every cent helps) and campaign for her (with no pay.)

3) We already know Palin has the talent to do well in debates and the ability to skillfully expose her Republican opponents’ hypocrisy and flip floppy records without outright disrespecting them. Hopefully that alone will damage the credibility of other candidates.

4) THere needs to be a huge threat looming of a substantial Third Party uprising “should Palin not be the candidate” (but not before then!)—For some reason I doubt Palin herself would lead such a ticket and she’d ultimately back a mediocre Republican if the stakes are high enough (4 more years of Obama) —but the Romneys of the world need to know that the base + tea partiers will not just “settle for anyone” anymore.

(and I don’t want to think about the potential of a “Romney/Palin” ticket—oye and I would not be thrilled w/ Romney as a runningmate either.)

5) It’d be helpful for moderates in the primaries to take away Romney votes.

6) Huckabee needs to not run, so he won’t split votes that would go to Palin.

7) Conservatives in the media need to start NOW in exposing the GOP establishment for what it is.

8) We all need to pray, campaign, and vote real hard!


39 posted on 12/17/2009 5:29:38 PM PST by CondoleezzaProtege ("When I survey the wondrous cross...")
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To: CondoleezzaProtege

I cannot seriously believe that Governor Palin would run as VP, and I definitely don’t believe that she’d ever run again with a RINO.


40 posted on 12/17/2009 5:32:57 PM PST by hennie pennie
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To: hennie pennie

I think/hope you’re right!

Here’s a video of Palin plugging in her early picks for the primaries two years ago:

http://www.youtube.com/watch?v=o6o6y8x5jGg


41 posted on 12/17/2009 5:35:35 PM PST by CondoleezzaProtege ("When I survey the wondrous cross...")
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To: CondoleezzaProtege
Say.... you do realize that although Meg Whitman is currently running for gov of CA, that her actual goal is the White House, say in 2016, and earlier of course, if there's "no one else" around.

You *do* understand that SHE would be the competitor, and not her BFF Mitt Romney?

42 posted on 12/17/2009 5:36:17 PM PST by hennie pennie
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To: hennie pennie

“Romney struggles to answer if Palin is qualified.”

http://www.youtube.com/watch?v=5e8gfvLvvVw

(What was so irritating was how libs would use these clips to say “see! even conservatives don’t think she’s qualified! muahahah.”) — completely clueless by how threatened everyone is by her.

I don’t think I could ever find it in myself to vote for Romney.


43 posted on 12/17/2009 5:41:47 PM PST by CondoleezzaProtege ("When I survey the wondrous cross...")
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To: CondoleezzaProtege

I wouldn’t vote for any Goldman Sachs favored candidate for anything.


44 posted on 12/17/2009 5:44:46 PM PST by hennie pennie
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To: CondoleezzaProtege
Read the book called AHEAD OF THE CURVE.

It's an expose of that vile Harvard Business School where they both received their MBAs.

45 posted on 12/17/2009 5:48:04 PM PST by hennie pennie
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To: hennie pennie

Thank you! I just checked my local library’s website and it carries “Ahead of the Curve!” It’s good to get to know all the inner workings of everything...

PS: Romney will be on Hannity tonight if you want to do some analysis of his latest motives.


46 posted on 12/17/2009 5:58:53 PM PST by CondoleezzaProtege ("When I survey the wondrous cross...")
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To: CondoleezzaProtege
Thanks for the heads up, I may have to turn on the TV and tune him in, if for nothing else, then for laughs.

Can you imagine the degree of clinical pathological narcissism one must have in order to run again & again & again for an office that you never will get elected to?

And what do you seriously think of the people who ADVISE Romney to run? Surely lots of them make lots of money as his full time advisers, but WHY should he waste his millions this way?

Meg Whitman has BILLIONS of dollars, she can run for anything, all the time, everywhere, and AFFORD it.

47 posted on 12/17/2009 6:04:24 PM PST by hennie pennie
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To: hennie pennie

(Romney was on just now bashing the stimulus and Obamacare...no REAL questions were asked of him though—if Hannity had guts, he would have asked Romney about Romneycare and its failures!)

I think enough voters are turned off by billionaires these days. Meg Whitman could potentially be Governor—but President(?) Hmm that’s a whole different ball game, as we all know. EVEN WITH the money.


48 posted on 12/17/2009 6:09:54 PM PST by CondoleezzaProtege ("When I survey the wondrous cross...")
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To: hennie pennie

“Can you imagine the degree of clinical pathological narcissism one must have in order to run again & again & again for an office that you never will get elected to?

And what do you seriously think of the people who ADVISE Romney to run? Surely lots of them make lots of money as his full time advisers, but WHY should he waste his millions this way?”

* I suppose his advisors want prestige and power, etc...

* I wonder if there’s a Mormon conspiracy.


49 posted on 12/17/2009 6:14:03 PM PST by CondoleezzaProtege ("When I survey the wondrous cross...")
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To: CondoleezzaProtege
Apparently Meg met Mitt when she applied for a job from him; however, they are both alumni of Harvard Business School, and interestingly, I've read that somewhere on some genealogical websites or chatboards or something, there is mention of an early Mormon family who for at least a couple generations always had a daughter named Margaret Whitman - but I have no idea if she is a descendant of that family.

I don't know what religion, if any, that she and her husband are, or are not.

50 posted on 12/18/2009 6:04:04 AM PST by hennie pennie
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