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Mercnbeth -> Goldman Sachs (4/22/2010 8:18:42 AM)
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Knowing the intimate details about what is going on with competitors makes it very easy to exploit the situation and conduct business generating extremely high profits.
Starting under one regime, with the next complicit in continuing the scheme.
Yesterday saw one TARP recipient, Goldman Sachs, report $3.44 billion in profits
Goldman also benefited at a crucial moment from the Federal Reserve takeover of AIG, and it received the additional filip of FDIC-guaranteed debt issuance through the Temporary Liquidity Guarantee Program. CIT was excluded from the latter program on grounds that it didn't pose a systemic risk, even as larger competitors like General Electric were allowed in.
More 'bag money' being delivered?
While Goldman Sachs' lawyers negotiated with the Securities and Exchange Commission over potentially explosive civil fraud charges, Goldman's chief executive visited the White House at least four times.
White House logs show that Chief Executive Lloyd Blankfein traveled to Washington for at least two events with President Barack Obama, whose 2008 presidential campaign received $994,795 in donations from Goldman's political action committee, its employees and their relatives. He also met twice with Obama's top economic adviser, Larry Summers.
President Barack Obama doesn't plan at this time to give back almost $1 million in campaign contributions from employees of Goldman Sachs Group Inc.
The association with Goldman personnel innocent in nature of other associates such as Rev. Wright, Bill Ayers, and a real estate associate, Antoin "Tony" Rezko?
Goldman is retaining former Obama White House counsel Gregory Craig as a member of its legal team. In addition, when he worked as an investment banker in Chicago a decade ago, White House Chief of Staff Rahm Emanuel advised one client who also retained Goldman as an adviser on the same $8.2 billion deal.
Maybe some will think it a bit unfair to only show what this Administration has done and how they have personally benefited from the implementation of the Bush II Stimulus program. Lets take a look at the results they've generated, and hope to implement on our behalf.
Wholesale prices rose more than expected last month as food prices surged by the most in 26 years.
The Labor Department said the Producer Price Index rose by 0.7 percent in March, compared to analysts' forecasts of a 0.4 percent rise. A rise in gas prices also helped push up the index.
President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days.
Beyond the ability, or desire, of many to comprehend but what the hell - maybe one person will appreciate the impotence of affecting change within the existing political environment in the US as long as both parties have the same agenda. I don't care if you are a 'tea-bagger', a 'tea partier', a 'tea drinker', a 'global warmer' a 'liberal', a 'conservative', or expert on 'shit'; can you rationalize voting for any incumbent, complicit in this reality by vote if not signature on the bail out legislation? Or have you all bought into the fairy tail that Goldman and the other institutions were "too big to fail"? Too big of campaign contributors to be allowed to fail perhaps.
Now there will be some lower echelon line personnel sacrificed to show how these new regulations will solve the problem. Based upon how many believed the "too bid to fail" story - I guess they have a good reason to believe this strategy will work again.
Who will stand up and support this association, assigning "coincidence" and "political agenda" as motivating factors for the scrutiny?
Still see "HOPE" and "CHANGE!" or just a different color table cloth?
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