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The Guys From ‘Government Sachs’
JULIE CRESWELL and BEN WHITE
NY Times
Sunday, Oct 19, 2008
And earlier this month, when Mr. Paulson needed someone to oversee the government’s proposed $700 billion bailout fund, he again recruited someone with a Goldman pedigree, giving the post to a 35-year-old former investment banker who, before coming to the Treasury Department, had little background in housing finance.
Indeed, Goldman’s presence in the department and around the federal response to the financial crisis is so ubiquitous that other bankers and competitors have given the star-studded firm a new nickname: Government Sachs.
(Article continues below)
The power and influence that Goldman wields at the nexus of politics and finance is no accident. Long regarded as the savviest and most admired firm among the ranks — now decimated — of Wall Street investment banks, it has a history and culture of encouraging its partners to take leadership roles in public service.
It is a widely held view within the bank that no matter how much money you pile up, you are not a true Goldman star until you make your mark in the political sphere. While Goldman sees this as little more than giving back to the financial world, outside executives and analysts wonder about potential conflicts of interest presented by the firm’s unique perch.
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9 Responses to “The Guys From ‘Government Sachs’”
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October 19th, 2008 at 6:37 am
This bodes a very close Overwatch of that which Sec’y. Paulson and his picks do with “our money.”
October 19th, 2008 at 9:13 am
“Let us face the fact: they have Stolen all the Money..period!”
“THE ????? IS? HOW DO WE GET IT BACK?”
WE THE PEOPLE IS A PLURAL…THAT IS HOW , MY FRIENDS!
October 19th, 2008 at 11:21 am
Do the opposite of what they ask you to do.
Buffet says buy American stocks.
He has never had me over for a drink or dinner.
Why should I listen to him??
Because he is wealthy and cares about us??
Nope, he invested all his money into the companies that are going to profit the most from this failure. The ones backed up by the government before the bill was even passed.
This is no different than the insider trading the Rothchilds use to steal.
You have better chances of winning a game of shell with the guy on the corner than you do with the stocks.
At least you know the shell game is a scam, and after awhile will walk away.
The stocks are not a free market and they try to convince the public it is safe gambling.
Don’t gamble on stocks anymore. Make safe investments only and do not feed the crooks.
The bait is out there to invest in low stocks, but when the companies go belly up. You lose.
As far as Buffett, he is on the same team as Paulson.
DO NOT listen to a man that made his fortunes off others losses.
October 19th, 2008 at 1:28 pm
the sad thing is they are just going to spend it all on hookers and blow. whats sad is im 25 and that shits easy as hell to get
October 19th, 2008 at 4:15 pm
That 35 year old looks to me like a cokehead.I like everyone else think its intensive he needs.
October 19th, 2008 at 4:42 pm
paulson created this mess, you look to him for salvation ?
bye bye america
i asked a history teacher a question in the library on friday, he was there with his class.
“how can america of today be so blindly misled by their government, just as the people of nazi germany during the holocaust ? ”
without blinking, he said
“americans willingly allow themselves to be misled, as they see the short term gains in oil and resources”
he said america is just like the roman empire, the rise and and eventual fall.
he said america’s fall will be abrupt, just as if it lept off a cliff in suicide, not a gradual decline.
americans turn a blind eye to the salughter of 5 million innocent iraqis, for oil
americans turn a blind eye to the slaughter of thousand of afghans for an oil pipeline route
americans turn a blind eye to forcefully drugge state of their armd forces, to let them kill innocents
americans turn a blind eye to the suicides of thousands of their own young children during and returning from unjust wars
americans turn a blind eye to removing prayer from school
americans turn a blind eye to the rape and pillage of innocents here and abroad
americans turn a blind eye to baby killing through abortions, 30 million a year of their own children
americans turn a blind eye to false worship of money as a gd
americans turn a blind eye to their own destruction
we, the innocents, stand and cheer
our eyes have been opened
so that we may cherish the destruction of modern day babylon
may your ashes be replaced with a peaceful, gd fearing people
let the celebration begin
america’s end is near
October 19th, 2008 at 5:53 pm
You can always physically rebel. Just consider consequences. If you go after someone just make sure it is a guilty party and not some dumbo that just went along for the ride. DO NOT ever confront law enforcement or military. Few if any of them are guilty of anything. Many can be recruited for your side with some care and diligence.
October 19th, 2008 at 5:56 pm
this is the video with the information that Alex mentioned on his show today, please take the time to watch, it may save your life
http://ca.youtube.com/watch?v=GxpCz10TRGU
October 20th, 2008 at 4:22 am
Goldman owns the Reserve. Check it out.