Skip to comments.Is Goldman Obama's Enron? No, it's worse
Posted on 04/20/2010 12:25:52 PM PDT by fightinJAG
Campaign contributions from Goldman Sachs employees to President Obama are nearly seven times as much as President Bush received from Enron workers, according to numbers on OpenSecrets.org.
President Bush's connections to Enron were well-hyped during the company's accounting debacle that rippled through the economy. Time magazine even had an article called, "Bush's Enron Problem." The Associated Press ran with the headline, "Bush-backing Enron makes big money off crisis." David Callaway wrote that Enron for Bush was worse than Whitewater for Clinton.
But the mere $151,722.42 (inflation adjusted) in contributions from Enron-affiliated executives, employees, and PACs to Bush hardly add up to Obama's $1,007,370.85 (inflation adjusted) from Goldman-affiliated executives and employees. That's also not taking into account how much Goldman contributed to Obama cabinet member Hillary Clinton ($415,595.63 inflation adjusted), which was itself almost three times as much as Bush received as well.
(Excerpt) Read more at washingtonexaminer.com ...
The banking crisis was a manufactured event.
The media have their new marching orders--Obama the Taxcutter. Every financial story involving him in any way will be screened through that idea.
It was a manufactured event to drop the bottom out of the economy with a willing press blaming the President at the time, GW Bush. This whole thing was done to win elections by forcing banks to give away houses in exchange for votes while leaving the mess for others to clean up. If dodd and frank were repubs, the trials would be over by now and they would be serving a long prison sentenct.
I understand the media not reporting on this since they are too busy fellating
the democrats, but the Republicans have no excuse to remain quiet. They could come
up with their own “drain the swamp” message, but refuse to hammer these rats home!
This stupidity hurts!
Simple socialism involves the seizing of the means of production to be run by government thugs. GM is an an example of simple socialism in action. But most of what Obama is doing, however, is pure fascism -- government-business partnerships founded on fear of government retribution and lust for government handouts.
Yep and it was a looting of the economy restributing the nation’s wealth to those connected interests.
The money that was redistributed wasn’t actually designed to “restart the economy”.
That money will fund the 2010 and 2012 Democrat campaign cycles. Got to give to get to give to get...
A Time Magazine headline:
Obama's Goldman Sacs Problem
or AP writing:
Obama-backing Goldman Sacs Makes Big Money off of Campaign Bet
Goldman will be Obamugabe’s Halliburton...........
A large part of “O’s” staff came through Goldman.
And the main reason for all this is because the corrupt MSM is colluding with Democrats, as they have since Watergate.
It is worse. If the Republicans don’t make this an issue they are fools. If this situation were reversed the media and Democrats would be howling till election day about it.
Great find. Cuts through the BS quickly. Filing this in Obama-nomics link-list, along with other latest on Goldman Sachs / DNC ties:
I recall a 60 Minutes segment on the Enron pipeline in India in 1996. They allude to White House connections and then show File Footage of George Bush entering the Portico.
wow, thanks, wonder if it’ll get any coverage...as if!
To be a “scandal” the general public has to know about it and has to be inflamed by the press else it is just business as usual and faintly untoward. Most people still get their news from the government press, even those who go on line, and will not hear much about it more than possibly a faint mention in the middle or end of a news story. It will not be castigated as embarrassing or bad. GS is not important because it is on the Left and anything that promotes the Left is good or inconsequential in the government press.
Ken Lay helped the Democrat power base that runs the city of Houston. Just saying. He got Mayor Lanier the extra votes he needed for $1billion in stadiums.
They named the baseball ballpark after Enron, until the scandal. Ken Lay is still honored in the area.
Enron wasn’t broken by the NY Times because they are “the only paper that can do the detective work”. Houston’s Comical SIDED with Lanier and the Downtown Business Establishment like Lay’s Enron.
LBJ bought off the Chronicle in the 1960s when he permitted a bank merger to go through.
The continued efforts to spin Enron as strictly a Republican deal are revisionist history. If I recall, the Atlantic ran a hit piece about GWBush’s team the Texas Rangers playing at Enron Field. When it was pointed out that the Houston Astros play at Enron Field, the article intro was rewritten online to talk of Bush’ team the Houston Astros. When it was pointed that Bush’s team was the Rangers who play at Arlington Stadium and the Houston Astros (with a separate owner in Houston Texas, hundreds of miles away) play at Enron Field, they wrote some roundabout sentence trying to link them.
YELLOW JOURNALISM lives.
"It's an odd thing, but when you tell someone the true facts of a mythical tale they are indignant not with the teller but with you. They don't want to have their ideas upset. It rouses some vague uneasiness in them, I think, and they resent it. So they reject it and refuse to think about it."
So much of what the Left spread about as fact is really myth these days. But when it becomes part of people's "reality", it is almost impossible to erase.
Some other examples:
Palin - a ditz
Cheney - Darth Vader - Halliburton
Rove - a dirty fighter
and who can forget Quayle and the potato
That guy, John Paulson, is a piece of work. And in bed with Chucky Putzhead Schumer:
Timing of SEC’s Goldman Sachs Fraud Case Was No Coincidence
[Rush] The New York Post on Saturday: “Wall Street Suspects Goldman Charges ‘Not Coincidental’ to Financial Reform Effort.” And there’s an interesting little tie here. John Paulson is the hedge fund guy who was allowed to pick the mortgage-backed securities that Goldman was going to package, and then this guy was allowed to go short on them, he bet that they were going to fail, he bet that whoever bought these as investment vehicles would lose money, and Goldman let him pick part of the portfolio. And he won, or scored a billion dollars when he was right. That’s what all this is about. This guy, John Paulson, not related to Henry, this guy has not been charged at all. He’s the hedge fund guy. Some vice president somewhere in Europe has been charged. But guess who’s in bed with John Paulson? That would be Chuck Schumer. “[Hedge fund billionaire John] Paulson goes to Goldman Sachs and asks the investment bank to create mortgage-backed bonds that he could short. Goldman Sachs agrees, taking a $15 million payment from Paulson for doing so. But Goldman goes a step farther by allowing Paulson to pick the mortgages that would be bundled into bonds — the mortgages that Paulson thought would be most likely to fail. Goldman then sold those tainted, Triple A-rated bonds to unwitting Goldman clients, collecting another hefty fee in the process. Like Paulson, it too placed secret bets that the bonds it had sold to trusting clients would fail.
“Paulson and Goldman are alleged to have created the investment vehicles to fail — they went short and Goldman got to sell them to investors who were long.” Some might say that this is a little conflicting. “John Paulson, the hedge fund short-artist in the middle of today’s SEC suit against Goldman Sachs, recently helped raise money for Sen. Charles Schumer (D., N.Y.), referring to the Senator in a fund-raising letter as ‘one of the few members of Congress that has consistently supported the hedge fund industry.’” You know who else was very close to Madoff was Chuck-U Schumer. So Senator Schumer is theoretically very close here to John Paulson and Bernie Madoff. But, my friends, a tough sell, because, remember, the Democrats are for the little guy. The Democrats are out there looking out for the little guy. Oh, yeah. “Sen. Chuck Schumer (D-N.Y.) Monday led a long list of officeholders and groups expected to give up more than $430,000 in political contributions from Bernie Madoff and his family... ‘My money, I’m returning,’ Schumer said... The $100,000 Madoff donated to the Democratic Senatorial Campaign Committee, run by Schumer until last month, should also be returned, but ‘that is their decision,’ Schumer said... A spokesman for the committee, now headed by Sen. Robert Menendez (D-N.J.), said, ‘We’re reviewing it.’” But, remember, the Democrats are for the little guy, folks. [snip]
[Side note: Trying to defend Clinton’s definition of ‘alone’, then-representative Schumer tried to argue that the sky wasn’t necessarily blue but arguably pink from some peoples’ perspective. Schumer is almost as fanatical about protecting infanticide as Obama himself. It all rolls together if you think about it.]
And the hits keep coming
The Goldman Democrat Bank.
They also gave unusually big bucks to Democrat Congressmen. It would be worth looking over some past patterns. (what was the Rep:Dem ratio in past elections?), what politicians had cozy deal with Goldman?...What about Steak-Stabber Emanuel's tight ties and amazingly fast profits with Goldman, etc., etc.,
A good assignment for alternative media.
After serving as an advisor to Bill Clinton, in 1998 Emanuel resigned from his position in the Clinton administration and became an investment banker at Wasserstein Perella (now Dresdner Kleinwort), where he worked until 2002. In 1999, he became a managing director at the firms Chicago office. Emanuel made $16.2 million in his two-and-a-half-year stint as a banker, according to Congressional disclosures. At Wasserstein Perella, he worked on eight deals, including the acquisition by Commonwealth Edison of Peco Energy and the purchase by GTCR Golder Rauner of the SecurityLink home security unit from SBC Communications.
Emanuel was named to the Board of Directors for the Federal Home Loan Mortgage Corporation ("Freddie Mac") by then President Bill Clinton in 2000. His position earned him at least $320,000, including later stock sales. He was not assigned to any of the board's working committees, and the Board met no more than six times per year.
During his time on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities. The Obama Administration rejected a request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel's time as a director.
The Office of Federal Housing Enterprise Oversight (OFHEO) later accused the board of having "failed in its duty to follow up on matters brought to its attention." Emanuel resigned from the board in 2001 when he ran for Congress.
Goldman benefitted from a previous bailout, the Mexican Currency bailout under Clinton, while the 34-year-old Emanuel was on retainer with Goldman even though he had no banking experience. Goldman has refused stockholder requests for company records regarding these issues.
Prosecutes CIA for defending country
Prosecutes Navy Seals for assaulting most wanted terrorist.
Hides $17.5 billion "stimulus" in NJ
AmeriCorp firing in violation of federal law
Obamas three places of birth
Obamas natural-born citizenship?
Obamas multiple SS nos
ACORN pimps out
Clinton Foundation gave ACORN $250,000
VP Biden's daughter in cocaine bust
Biden bro and son named in offshore Ponzi scheme
Rahn Emanuel (too numerous to mention)
Obama prez campaign accepted AIG donations
House Speaker Nancy Pelosi (being there)
Cong Barney Frank, Freddie Mac scandals
Sen Chris Dodd, AIG bonuses, Countrywide insider deals
Gov Richardson-pay to play scandal (withdraws)
No. 2 at HUD Ron Sims (violates Public Records Act as Seattle area County exec)
Geithner-Tax cheat (confirmed)
Daschle-Tax cheat (withdraws)
Killefer-Tax cheat (withdraws)
DOL Secy Solis - husband tax cheat (confirmed)
Sen Burris lied about "pay to play" contacts
Auto rescuer appointee Steven Rattner (massive pay-to-play NY pension scandal--stepped down)
Louis Caldera, White House Military Office (ousted for $357,000 flyover NYC)
Green Czar Van Jones ousted - San/Fran Communist w/ arrest record.
Married Obama economic advisor Charles Phillips tell longtime mistress he's divorced.
Other Dem Scandals:
Cong Rangel-Tax cheat (ousted from chairmanship).
Sen Franken--won w/ shady ACORN registrations
John Edwards in love child payoff w/ campaign funds
Gov Blagojevich-pay to play scandal (impeached)
Baltimore Mayor Dixon- indicted on perjury, theft charges
Racine Mayor Becker-arrested for child porn, soliciting minors
Hartford Mayor Perez- arrested for bribery
Birmingham Mayor Langford- arrested on federal charges
Former Detroit Mayor Kwame Kilpatrick-served 99 days jailtime
Portland Mayor Adams- admitted he had gay sex with teen intern
Chicago Alderwoman Troutman-plead guilty to tax fraud and mail fraud
Monica Conyers John Coyners wife, Detroit City Council President guilty in Detroit bribery case
Tim Mahoney (D-FL) - Offered $121,000 payoff and $50,000 a year job for two years to quiet former mistress/staffer
Rep William J. Jefferson (D-LA) tried on 6 counts including bribery (hid $90,000 cash in freezer)
NY Gov Spitzer - fed's wiretaps out involvement in prostitution ring.
Cong Alcee Hastings ex-judge, impeached/convicted for bribery (elected to House)
Cong Carnahan (D-MO) lien filed on home for $17,364 unpaid roofer bill
Mass State Sen Dianne Wilkerson arrested on federal bribery charges (stuffed bribes in bra)
Carol Moseley Braun nailed for stealing $249,000 from her campaign treasury
Mass State Sen J. James Marzilli indicted for accosting four women (resigned)
Rep Jan Schakowsky (Dem/Socialist--ILL) husbands bank fraud
Ex-leader of Young Democrats sentenced in Child Porn case
North Carolina Dem activist sentenced in child porn w/ kids as young as 6
Kerry's Band of Brothers member on-stage at DNC Convention (convicted for child porn)
Aide to Sen Barbara Boxer received/distributed child porn (convicted)
Child molester back working for Democrat in Hawaii Legislature
Wisconsin Dem mayor charged with child-sex crimes
Left-wing radio personality Bernie Ward (possession/distribution of child porn conviction)
Bwaney's ex-boyfriend ran prostitution ring at residence.
Bwaney's current live-in grows marijuana on premises.
Hawaii senator got TARP funds for bank he founded.
Sen Diane Finstein steered govt money to husband's businesses.
Cong John Murtha - massive fraud and corruption.
Cong Chuckles Schumer - crashed IndyMac by causing a run on assets.
42 Dem officials arrested in NJ corruption bust.
WV Alan Molohan -- created/funded phony non-profit.
Cold Cash Cong Jefferson stashed money in freezer (convicted)
Bexar County (San Antonio, TX) Democratic Party missing $200K
Goldman is more than surviving the current financial storm. Recently it gave out billions in bonuses. G/S cultivates clout in Washington. And now they have Rahm---their very own WH toadie---pushing their agenda.
THINGS WE DO NOT KNOW ABOUT RAHM EMANUEL Did Rahm reveal all of his ties to financial institutions involved in Obama's trillion dollar federal bailout of financials?
Goldman Sachs Will Be Sitting Pretty With Emanuel in the Obama White House
By Timothy P. Carney, Examiner Columnist, Nov 21, 2008
EXCERPT Today, in these tumultuous times of bailouts and meltdowns when the investment banking leviathan needs Washington more than ever before, Goldman Sachs can leverage its most valuable asset yet White House chief of staff Rahm Emanuel.
Traditionally a Democratic booster, and one of Barack Obamas top sources of funds in this past election, Goldman has always had particularly strong allies in government.
Rahm Emanuel is one such ally. An interesting early chapter in the Goldman-Emanuel relationship took place in the setting of Bill Clintons 1992 campaign for the White House. 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 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.
SOURCE http://www.washingtonexaminer.com/opinion/columns/TimothyCarney/ Goldman_Sach_Will_Be_Sitting_Pretty_With_Emanuel_in_the_Obama_White_House_112108.html
Sen. Judd Gregg on FOX News said Goldman Sachs didn't need TARP money after the meltdown. Treasury Sec. Henry Paulson told Goldman and several big banks they had to take the bailout because otherwise it would look like they gained from the crisis.
GOOD FOR GOLDMAN, BAD FOR AMERICA (G/S the major toll collector on govt's red-ink railroad)
BY TERRY KEENAN, anchor of Cashin' In, Fox News Sat 11:30 AM.
EXCERPT G/S morphed into a commercial bank to take advantage of gov't handouts, yet Goldman is really a hedge fund on steroids, with trading accounting for 69% of gross revenue in the first quarter........ a big chunk of its trading involves US govt debt -- federal, state and local......
G/S has a huge vested interest in the US digging a deeper and deeper hole.........trading govt IOUs is big business.....one of the few growth markets on Wall Street. IPO's, M&A's, etc, have yet to recover but the US will borrow a record $3.25 trillion in the current fiscal year -- four times as much as in 2008.
With its biggest competitors out of business, G/S is a major toll collector on Washington's red-ink railroad.......a "debt tsunami" that will lift Goldman's fortunes. G/S plays on the bankrupting of America -- the more we borrow, the more they make........
.........but the American public should know this side of the G/S profit miracle. .......Through savvy trading and management, G/S set aside $11.4B this year to compensate its employees on a playing field cleared of its top competitors and soon after Uncle Sam bailedout G/S with $10B TARP -- and millions more through AIG, all paid for by taxpayers.
G/S benefits nicely from the govt borrowing binge that was triggered in part by the banking crisis that started in Wall Street's own backyard.
Don’t be too critical of Goldman as they are all Jewish. Therefore that is discrimination.
O-o-o-o-o-o....better call the Thought Police. Somebody get ADL Abe on the phone.............. pronto.