Greece paid Goldman Sachs $300 million in fees for arranging the toxic 2001 transactions, according to several bankers familiar with the deal. Goldman is rotten to the core. And they own the Obama administration. Here's how the G/S Wall Street predators operate.
COMING TO A TOWN NEAR YOU Mother Jones magazine circa Feb 2007 reported on the activities of Mark Florian, Chief Operating Officer of Goldman Sachs' municipal finance division.
According to the report, Florian was traveling to statehouses across the US to convince state officials that selling state assets would be "mutually beneficial." One of the scams involved selling state roads then monetizing them via bonding----which would make billions for G/S til the end of time.
REFERENCE Goldman Sachs opened an office in Princeton NJ 2006 when Corzine was elected (the better to loot the NJ Treasury).
Goldman Sachs Hedge Fund Partners
701 Mount Lucas Rd
Princeton, NJ 08540-1911
G/S Hedge Fund Partners advertises it seeks investments in traditional infrastructure sectors including transport infrastructure such as "monetizing" toll roads, airports and ports as well as regulated gas, water and electrical utilities.
Then-Gov Corzine (ex-Goldman head) stationed Goldman Sachs functionaries in state government as the issue of road monetization surfaced. Corzine hired four of his G/S buddies including G/S alumnus Bradley Abelow as state Treasurer. Corzine took a road show across the state to sell the monetization deal. However, monetizing NJ roads hit a large pothole and collapsed like a flat tire---b/c taxpayers were onto the G/S scam.
CIRCA Sept 15, 2009 A SHOCKING DISPLAY OF OBAMA'S THIRST FOR POWER FOX News' Judge Napolitano notes: if implemented, the unconstitutional proposals Obama urged in his Sept 2009 speech to Wall Street will amount to a final coup détat by banksters, their technocrats and enforcers, at the Federal Reserve (*the privately-held bankster cartel that masquerades as a government agency).
Obama's "reforms" would install a dictatorial regulatory power controlled by international bankers oer the entire US economy down to the local grocer and hot dog vendor on the corner. It will control our lives down to the smallest detail. It will require us to ask permission for the most mundane and routine of financial transactions. IT MUST BE BE RESISTED AT ALL COSTS.
VIDEO LINK AVAILABLE Judge Andrew Napolitano On Obama/Bankster Takeover
Goldman Sachs Will Be Sitting Pretty With Emanuel in the Obama White House
By: Timothy P. Carney, Examiner Columnist, Nov 21, 2008
Goldman Sachs always has clout in Washington, as evidenced by the firms 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 yetincoming 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 Obamas 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 Clintons 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 its 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 Emanuels lead role in shepherding the $700 billion bailoutfirst proposed by former a Goldman CEO, Bush Treasury Secretary Henry Paulsonthrough 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 Emanuels salary in 1992? Did Goldmans 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 Obamas right hand man wont be easy to follow.
Watch which regulations of Wall Street Obama fights for. Watch where the bailout money goes. And dont be surprised Goldman soon sitting pretty once again.
THINGS WE DO NOT KNOW ABOUT RAHM Did Wall Street Rahm reveal all of his ties to financial institutions involved in Obama's trillion dollar federal bailout of financials.......like Goldman Sachs, for instance?
Now Jefferson County is one of the most indebted municipal governments in US history, with a current debt of approximately $7,000 for each man, woman and child residing in the county. Two extremely controversial undertakings by the county account for the majority of this debt.
First was a massive overhaul of the county-owned sewer system, and second was a series of risky bond-swap agreements. Both have been scrutinized by federal prosecutors, with several former county officials convicted of bribery and corruption. In 1995, Jefferson County entered into a consent decree with the EPA regarding sewer overflows into the Cahaba River watershed.
A total of $3.2 billion of new construction was subsequently contracted, both to comply with the consent decree and to expand the system to newly-developing areas and increase the number of ratepayers financing the construction. Much of this work was awarded to inexperienced companies, many of which have since been convicted of bribery, along with several county officials.
A series of controversial interest rate swaps, initiated in 2002 and 2003 by former Commission President Larry Langford (removed as the mayor of Birmingham after his conviction, were intended to lower interest payments, but have, in fact, had the opposite effect, increasing the county's indebtedness to the point that officials have issued formal statements doubting the county's ability to meet its financial obligations. The bond swaps are at the center of an investigation by the SEC.
In late Feb 2008 Standard & Poors lowered the rating of Jefferson County bonds to junk status. In early March 2008, Moody's followed suit and indicated that it would also review the county's ability to meet other bond obligations. On March 7, 2008, Jefferson County failed to post $184 million collateral as required under its sewer bond agreements, thereby moving into technical default.......it is likely the county would enter into bankruptcy, which would result in one of the larger municipal bankruptcies in American history.
FOR YOUR REFERENCE Florida stands to lose $1 billion from Lehman Brothers' bankruptcy. In Florida, Lehman Brothers managed public assets, sold securities, underwrote bond deals and handled residential and commercial mortgages. >>>>>>Local governments are stuck with about $556 million in tainted securities that they can't redeem. >>>>>>Fla has $290 million less to pay for everything from hurricane claims to health care, community colleges and care for infants with disabilities. >>>>>>> Counties, cities and school districts face a loss of more than $300 million for roads, sewers and schools.