With Kagan appointment Goldman-Sachs runs America
Barry Ritchey II
, Denver Libertarian Examiner
May 15, 2010 – Like this? Subscribe to get instant updates.
Elena Kagan, Obama, and Biden; a Goldman-Sachs trifecta
Photo: White House employee
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Ok, so if you haven’t put two and two together and come up with $1 trillion by now, I’m going to show you how international banking interests, namely Goldman-Sachs, effectively run America.
The first thing you have to understand is that the Federal Reserve Bank is not a part of the Federal government at all. This is important to understand because there is no Congressional (read: The People) oversight of the Federal Reserve’s functions and dealings. None.
This is explicitly prohibited in the Constitution Article 1 Section 8, but that hasn’t stopped Congress from willingly divesting that major authority and regulatory power of ‘coining money’ over to a private enterprise, the Federal Reserve. I explained the ruse in depth here.
The U.S. Treasury also has a key role to play in all of this because of their function of "serving as the primary economic adviser to the President" and are "critical in policy-making by bringing an economic and government financial policy perspective to issues". In addition, the Treasury is the entity that holds and sells the bonds to the Federal Reserve that allows them to ‘print’ more ‘money’.
One must also understand that the Head of the Fed (currently Ben Bernanke) is chosen by the Executive Branch (read: The President), but only from a list compiled by the high-level (JP Morgan, Goldman Sachs, Wells Fargo, etc.) bankers themselves.
So, "how does Goldman-Sachs fit into all of this?" you ask.
Well, you could call it guilt by association coupled with dramatic and unnecessary action during a self-caused crisis (read:TARP).
Pointing out the amazing amount of former Goldman-Sachs employees and advisers that have held, and currently hold, the upper echelons of power within the Federal government is extremely telling on its face.
But, Elena Kagan, the newest appointee to the Supreme Court of the land, here it comes, is a former adviser for none other than the mighty Goldman-Sachs.
Effectively compromising every branch of the U.S. government upon confirmation.
Because we know that Goldman-Sachs employees gave President Obama about a million dollars for his 2008 campaign and had contributed heavily to Joe Biden’s continued reelection bids as well. And they have had continued influence with Congressional leaders (supposed representatives of The People) Barney Frank, Chris Dodd, Charles Schumer and many others.
Here is the short list of high ranking ‘public servants’ that were at one time paid by Goldman-Sachs for their services (or the ‘Dirty Dozen’ of bankster bureaucrats):
- Henry Paulson: served as Chairman and CEO of Goldmans Sachs before being appointed by George W. Bush to head the Department of the Treasury
- Rahm Emanuel: was held on retainer to the tune of $3k per month and an additional $50k bonus paid by Goldman-Sachs to become Clinton’s primary fundraiser, currently serving as Obama’s Chief of Staff
- Joshua Bolten: Executive Director for Legal and Government Affairs at Goldman Sachs in London from 1994 to 1999, picked as George W. Bush’s Chief of Staff and served through 2003
- Mark Patterson: top deputy to Timothy Geithner (current Secretary of the Treasury) for oversight of TARP, former lobbyist for Goldman-Sachs
- Gary Gensler: Goldman-Sachs partner and Obama’s "Commodity Futures Trading Commission" head
- Neel Kashkari: Interim position in the Treasury’s Office of Financial Stability in 08-09 and former assistant to Henry Paulson from 06-08, former Goldman-Sachs employee
- Philip Murphy: U.S. Ambassador to Germany appointed by Obama in 2009, former Goldman-Sachs employee
- Steve Shafran: Adviser to Henry Paulson while Treasury Secretary, former Goldman-Sachs employee
- Adam Storch: COO of the SEC’s Enforcement Division 09-present, former Vice President of Goldman-Sachs
- Jeffrey Reuben III: former Under Secretary of State for Economic, Business, and Agricultural Affairs under George W. Bush and at the Pentagon as a member of the National Security Council and was held over by the Obama administration to advise Hillary Clinton on economic issues, former Managing Partner of Goldman-Sachs London and Paris offices
- Robert Zoellick: United States Trade Representative (2001-2005), Deputy Secretary of State (2005-2006), currently World Bank President, former Senior International Adviser for Goldman-Sachs
- Robert Rubin: Secretary of the Treasury 95-99 during the Community Reinvestment Act (the cause of the current collapse) and Bill Clinton’s administration and current Secretary of the Treasury Timothy Geithner’s mentor, 26 year Goldman-Sachs employee
The list goes on and on.
Do you finally see the total permeation of the Federal government by Wall Street’s biggest player? Regardless of Party or ideology presented by the administration in charge?
Obama actually said, "We need Wall Street responsibility BEFORE financial crises” during the campaign and that we [the government] should "pay attention to Main Street, not just Wall Street.”
But did the bailouts do that Mr. President? Because Goldman-Sachs just released their first quarter numbers and didn’t lose a dime. At the same time new foreclosures in Colorado are continuing their upward ascent. Forgive me Mr. President, but it seems like "Main Street" is still getting hosed and your cronies over at Goldman-Sachs (ie. Wall Street) are doing pretty well.
The same Goldman-Sachs that used their connections in the Bush administration’s decision making process effectively using the ‘bankster bailout fund’ to put their direct competition, Lehman Brothers, out of business. At the same time propping up AIG, an insurance company that held $62.1 billion of toxic Goldman-Sachs derivatives who were subsequently caught trying to hide their involvement.
Now knowing this and seeing that the executive and legislative branches have been effectively compromised by international banking interests. watching President Obama try to slip another Goldman-Sachs employee by the American people, only this time to a life-long appointment to the judicial branch, is frankly maddening.
Matt Kelley at USA Today reported:
Solicitor General Elena Kagan was a member of the Research Advisory Council of the Goldman Sachs Global Markets Institute, according to the financial disclosures she filed when President Obama appointed her last year to her current post. Kagan served on the Goldman panel from 2005 through 2008, when she was dean of Harvard Law School, and received a $10,000 stipend for her service in 2008, her disclosure forms show.
It doesn’t make me happy to say it, but the fix is in.
And Goldman-Sachs employees definitely know that the American people are waking up to their outright take-over of the U.S. Federal government. Alice Schroeder wrote a piece in 2009 where she said: "The banker had told this friend of mine that senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the bank".
Well, if you were conducting ethical and principled business for profit like thousands of other financial enterprises, what would you need to fear a ‘populist uprising’ for?
The incestuous nature of Goldman-Sachs’ relationship with our Federal government should frighten all Americans because it has become the definition of corporatism and has bred a culture of entrenched cronyism that won’t easily be removed.
Fascism should more appropriately be called Corporatism because it is a merger of State and corporate power. – Benito Mussolini, Fascist dictator of Italy
And don’t kid yourself either, Goldman-Sachs loves the new "Wall Street reform" ideas bouncing around the House and the Senate. Current CEO Lloyd Blankfein said, "I think Washington has a responsibility to respond to the events of the last several years by enacting some kind of financial reform."
Financial reform that will no doubt further stifle their competition with onerous and prohibitive regulatory compliance costs.
But, what is the answer?
Well, if Elena Kagan gets the Supreme Court seat, knowing that Ruth Ginsberg will be stepping down soon, that will make 3 Obama/Goldman-Sachs friendly judges on the bench. After that, there is no easy answer and it could take an extraordinarily long time to undo.
But, starting with
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