May 16, 2010
Two articles on the FDL website detail the intimate and incestuous relationship between the Barry Obama administration and Goldman Sachs. FDL names names and provides expansive detail on the Goldie administration.
“At a time when Congressional hearings are set to call testimony from some Goldman Sachs employees, it is vital to understand how widespread that institution’s ties are to the Obama administration. This diary shows the pervasive influence of Goldman Sachs and Goldman created institutions (like the Hamilton Project embedded in the Brookings Institution), employees and influence peddlers in the Obama administration,” FDL wrote on April 27.
It is not simply Larry Summers, Timothy Geithner, Rahm Emanuel, Gary Gensler and Mark Patterson who are Goldies, but a long list of others. “But that’s just the tip of the Goldman Sachs iceberg. Here you will find, I believe, the most comprehensive list of people-groups yet available to show how Obama’s administration has really become the Goldman Sachs administration.”
Elena Kagan is merely the latest addition, although her ties to Goldman are downplayed if not completely ignored by the corporate media.
FDL notes that the “Obama administration is not the first administration that Goldman has infiltrated, although it is perhaps the one that has been most completely co-opted from top to bottom. Recall that former Secretary of the Treasury Paulson in the George W. Bush era came from — Goldman Sachs where he was its chief. Recall too that the brilliant, late economist John K. Galbraith has written an entire chapter of a book devoted to the Great Depression and the economic collapse of Wall St. that accompanied it to the role of Goldman Sachs.”
Goldman had sponsored trusts such as Blue Ridge and Shenandoah, speculative Ponzi schemes that made the market collapse of October 1929 possible. Goldman and others “whip(ped) up a speculative fever in shares, reaping (highly leveraged) capital gains with other people’s money.” They were fraudulent pyramid schemes, a “Charles Ponzi-Bernie Madoff scam,” writes L. Randall Wray.
It was not mere greed and short sightedness that created the Great Depression. “To think that the scientifically engineered Crash of ‘29 was an accident or the result of stupidity defies all logic. The international bankers who promoted the inflationary policies and pushed the propaganda which pumped up the stock market represented too many generations of accumulated expertise to have blundered into ‘the great depression,’” writes the late Gary Allen.
“The international bankers sought to bring about a condition of despair here so that they might emerge as the rulers of us all,” lamented Congressman Louis McFadden, Chairman of the House Banking and Currency Committee at the time.
Goldman is now strategically placed in the White House as the Greatest Depression inexplicably unfolds all around us. McFadden was on the right track — the banksters are positioned to emerge as rulers of us all… and most of us, thanks to the corporate media, are completely unaware.
Here are the FDL articles: A List of Goldman Sachs People in the Obama Government: Names Attached to the Giant Squid’s Tentacles and An Updated List of Goldman Sachs Ties to the Obama Government Including Elena Kagan.
This article was posted: Sunday, May 16, 2010 at 5:37 am