Mary Shapiro hires a 29 year old kid to over see enforcement for the SEC!?!?!
By Daniel at 17 October, 2009, 12:31 am
A little history lesson that is beyond coincidence.
In October of last year, a Goldman Sachs Vice President, Neel Kashkari, was named by former Goldman CEO and then-Treasury Secretary Pauslon to oversee the$700 billion TARP bailout.
In January of this year, Tim Geithner hired a former Goldman Sachs lobbyist, Mark Patterson, to be his top aide and Chief of Staff.
In March, President Obama nominated Goldman Sachs executive Gary Gensler to head the Commodity Futures Trading Commission, which regulates futures markets, even though (or “because”) Gensler confessed to lax regulation during the Clinton administration over the very derivative instruments that caused the financial crisis.
In April, Goldman hired as its top lobbyist Michael Paese, the top aide to Rep. Barney Frank on the House Financial Services Committee which Frank chairs.
According to ABC News in October, 2008, Goldman “spent more than $43 million dollars on lobbying and campaign contributions to cultivate friends and buy influence in Washington, D.C. since 1989″ and their “bankers have been the country’s top political campaign contributors this year.” “They are almost in a class by themselves,” said Sheila Krumholz, of the Center for Responsive Politics.
As Michael Moore has been pointing out, Goldman was the number one source of funding for the Obama 2008 presidential campaign.
The bailout of AIG — which resulted in massive federal government monies to Goldman — was engineered at a meeting between Paulson, Geithner and Goldman CEO Blankfein.
Last year, Goldman paid top Obama economics adviser Larry Summers $135,000 for a one-day visit to Goldman.
As many would say. when the head of the fish stinks, so does the rest of it.
- goldstandard
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