by Sixstrings » Mon 14 Dec 2009, 01:52:43
$this->bbcode_second_pass_quote('Plantagenet', 'D')r. Evil-----did you see the news story where Geithner's phone records were made public. It turns out our Treasury Secretary is CONSTANTLY on the phone with Goldman Sachs and the other big banksters to tell them what the Treasury Department and the Fed will be doing next.
No wonder Goldman Sachs is making record profits-----they not only have a mole in the Obama administation....they ARE the Obama administration.
But Plant, they were ALSO the Bush administration!
Here's a lovely tidbit from the bio of Bush's treasury secretary:
$this->bbcode_second_pass_quote('', 'I')n 2004, at the request of the major Wall Street investment houses—
including Goldman Sachs, then headed by Paulson—the U.S. Securities and Exchange Commission agreed unanimously to release the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. The complaint put forth by the investment banks was of increasingly onerous regulatory requirements—in this case, not U.S. regulator oversight, but European Union regulation of the foreign operations of US investment groups. In the immediate lead-up to the decision, EU regulators also acceded to US pressure, and agreed not to scrutinize foreign firms' reserve holdings if the SEC agreed to do so instead.
Conflict of interest claims
It has been pointed out that Paulson's plan could potentially have some conflicts of interest, since Paulson was a former CEO of Goldman Sachs, a firm that may benefit largely from the plan. However, there is no consensus on this claim.[30] Questions remain about Paulson's interest, despite the fact that he had no direct financial interest in Goldman, since he had sold his entire stake in the firm prior to becoming Treasury Secretary, pursuant to ethics law.[31] The Goldman Sachs benefit from AIG bailout was recently estimated as USD 12.9 billion and GS was the largest recipient of the public funds from AIG.
I think that speaks for itself, no additional comment from me needed.
So ya, I'm very much disheartened by our current administration. But it's more like the realization that this is just an escalation of what went on under Bush. Honestly, I should have known better -- I'm old enough that I should have known better. There is no "hope and change," and there are no "white knights." The most you can hope for is small increments of progress accompanied by massive amounts of corruption along the way. I guess that's what they call democracy, lol.
P.S. please call me Sixstrings, not Dr. Evil. I chose that pic a long time ago as a way of not taking myself so seriously, as in the common stereotype of the doomer who sees conspiracy in everything.. I should take a cue from Ludi and get another pic