United State of Goldman

The recent circus featuring democrats yelling at Goldman Sach's officials was politcal theater.  Goldman doesn't care.  

Greg found a site that collected data that reflected much of the information found on the hour show of Beck, the other day and I started to poke around, as well, but I only have one life to report on who actually runs the country and for whose benefit.  But first:

...The Financial Times reports that the cost of insuring Goldman's debt against default has increased by some 80% in the last two weeks. According to Markit, a 5-year credit default swap insuring $10m of Goldman debt currently costs around $162,000-a-year - more than it costs to purchase similar protection for Citi and Morgan Stanley.

• William C. Dudley, President of the Federal Reserve Bank of New York; was a partner and managing director at Goldman
• Gary Gensler, Chairman of the Commodity Futures Trading Commission; spent 18 years at Goldman
• Mark Patterson, Chief of Staff to Tim Geithner; former Goldman lobbyist
• Philip Murphy; nominated for ambassador to Germany; former Goldman executive
• Diana Farrell; Deputy Director of the National Economic Council; formerly with Goldman
• Emil Michael; White House fellow; former investment banker with Goldman

then there are other Goldman folks,

Hank Paulson, Robert Rubin (largest contributor to Obama's senatorial campaign, )Robert Altman, Gregory Craig, Thomas Donilon, William Dudley, Douglas Elmendorf, of there are about twenty more:  HERE

Michelle Malkin wrote a good article called "All the President’s Goldman Men" but she only listed the usual suspects like Larry Summers, Timothy Geithner, Rahm Emanuel, Gary Gensler and Mark Patterson.

So, yelling at the shifty CEO on TV who praises the need for conrol is a cruel joke.  Next on the list of crimnal activity is the insertion of "cap and trade."  Where do the ten trillion dollars worth of credits trade:


Chicago Climate Exchange (CCX)

CCX is North America’s only voluntary, legally binding greenhouse gas reduction and trading system for emission sources and offset projects.  The companies joining the exchange commit to reducing their aggregate emissions by 6% by 2010....

CCX is operated by the public company Climate Exchange PLC, which also owns the European Climate Exchange. (As I understand it, the PLC is also partly owned by Goldman)

CCX is 10% owned by Goldman Sachs and 10% owned by Generation Investment Management (GIM).




Al Gore and GIM – Generation Investment Management

...Al Gore is Chairman of GIM, and David Blood — previously chief executive of Goldman Sachs Asset Management — is CEO.  The pair has given the company its nickname, “Blood and Gore.”...
GIM also owns a 2.98% stake in the Climate Exchange, which in turn owns the Chicago Climate Exchange (and has a larger 10% share in that). This gives Al Gore a financial bias towards promoting global warming control through the trading of carbon credits, one of Obama’s chief agenda items.

What else?

The Joyce Foundation and President Obama

President Barrack Hussein Obama was instrumental in funding the formation of the Chicago Climate Exchange (CCX).  Before becoming a Senator, Obama was a Board Member of the Joyce Foundation, which gave nearly $1.1 million in two separate grants that were “instrumental in developing and launching the privately-owned Chicago Climate Exchange…”

Valerie Jarrett, one of Obama’s top advisors, is still on the board of directors for the Joyce Foundation.

It may be interesting to note that the Chicago Climate Exchange, in spite of its hype, is a veritable rat’s nest of cronyism. The largest shareholder in the Exchange is Goldman Sachs and  Chicago Mayor Richard M. Daley is its honorary chairman.

The Joyce Foundation also funded money for John Ayers’ Chicago School Initiatives....

----  Finally

 According to the Washington Examiner, Goldman Sachs in 2008 alone gave to Obama's campaign $415,595.63 inflation adjusted, which was itself almost three times as much as Bush received.


Signed, Sealed, Delivered.  Imagine if Bush participate in ONE of the above frauds.