All the president’s Goldman Sachs men; Update: A look at the White House visitor logs
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My syndicated column today shines light on all the Goldman Sachs company men in the Obama administration’s midst. The GOP wants SEC correspondence disclosed. Here’s that story. In related news, Goldman Sachs cheerleader and beneficiary Rahm Emanuel met with NYC business elite about the financial reform plan. Listen up:
Another attendee, who spoke anonymously to discuss remarks that were intended to be private, said the chief-of-staff emphasized that there was a “12-week legislative calendar” to get the administration’s main goals accomplished.
Related must-read from Conn Carroll at The Foundry: The Crony Capitalist Threat to Our Economic Freedom.
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All the president’s Goldman Sachs men
by Michelle Malkin
Creators Syndicate
Copyright 2010
While President Obama assails the culture of greed and recklessness practiced by the men of Goldman Sachs, his administration is infested with them. The White House can no more disown Government Sachs than Da Boss-in-chief can disown Chicago politics.
Obama is headed to Wall Street on Thursday to demand “financial regulatory reform” — just as the U.S. Securities and Exchange Commission has filed civil suit against Goldman Sachs for mortgage-related fraud. Question the timing? Darn tootin’. There are no coincidences in the perpetually orchestrated Age of O. Everyone from disgraced former New York Attorney General Eliot Spitzer to analysts at the Brookings Institution and Barclays Capital to the GOP leadership and Rush Limbaugh has noted the reeking political opportunism in the air.
As the New York Post reported Tuesday, the Democratic National Committee immediately bought sponsored Internet ads on Google that direct web surfers who type in “Goldman Sachs SEC” to Obama’s fundraising site. “It’s time to hold the big banks accountable,” the money-grubbing DNC message bellows. But just like his crony capitalist predecessor George W. Bush, Obama has relied on Goldman Sachs and Wall Street power brokers to engineer massive government interventions to “rescue” failing businesses with the tax dollars of ordinary Americans.
While irony-challenged Democratic candidates like mob-linked banker Alexi Giannoulias in Illinois (who hopes to fill Obama’s old Senate seat) call on Republicans to return their fat-cat Goldman Sachs donations, the Democrats are silent on the $994,795 in Goldman Sachs campaign cash that Obama bagged. The class-warfare Dems are also mum on all the president’s Goldman Sachs men sitting in the catbird’s seat:

– Goldman Sachs partner Gary Gensler is Obama’s Commodity Futures Trading Commission head. He was confirmed despite heated congressional grilling over his role, as Reuters described it, “as a high-level Treasury official in a 2000 law that exempted the $58 trillion credit default swap market from oversight. The financial instruments have been blamed for amplifying global financial turmoil.” Gensler said he was sorry — hey, it worked for tax cheat Treasury Secretary Tim Geithner — and was quickly installed to guard the henhouse.
– Goldman Sachs kept White House Chief of Staff Rahm Emanuel on a $3,000 monthly retainer while he worked as Clinton’s chief fundraiser, as first reported by Washington Examiner columnist Tim Carney. The financial titans threw in another $50,000 to become the Clinton primary campaign’s top funder. Emanuel received nearly $80,000 in cash from Goldman Sachs during his four terms in Congress — investments that have reaped untold rewards, as Emanuel assumed a leading role championing the trillion-dollar TARP banking bailout law.

– Former Goldman Sachs lobbyist Mark Patterson serves under Geithner as his top deputy and overseer of TARP bailout — $10 billion of which went to Goldman Sachs. Left-leaning government watchdog Melanie Sloan of the Citizens for Responsibility and Ethics in Washington responded: “It makes it appear that they are saying one thing and doing another.” Paul Blumenthal of the Sunlight Foundation noted that, while at Goldman Sachs, Patterson lobbied against executive pay limits that Obama had crusaded for as senator (before, that is, his administration carved out exemptions for AIG). While Patterson agreed to recuse himself on any Goldman Sachs-related issues or related policy concerns, Blumenthal wrote, it “still creates a serious conflict for Geithner, as Treasury is being partly managed by a former Goldman lobbyist. Geithner is also placed in a tough position considering that his chief of staff is limited in the areas in which he can work (supposedly).”

– Obama’s close hometown crony, campaign finance chief and senior adviser Penny Pritzker was head of Superior Bank of Chicago, a subprime specialist that went bust in 2001, leaving more than 1,400 people stripped of their savings after bank officials falsified profit reports. Pritzker’s lawyer at O’Melveny and Myers, Tom Donilon, is now Obama’s deputy national security adviser. He earned just shy of $4 million representing her and other high-profile meltdown clients including Goldman Sachs.
– White House National Economic Council head Larry Summers reaped nearly $2.8 million in speaking fees from many of the major financial institutions and government bailout recipients he now polices, including JP Morgan Chase, Citigroup, Lehman Brothers and Goldman Sachs. A single speech to Goldman Sachs in April 2008 brought in $135,000. Summers has prior experience negotiating government-sponsored bailouts that benefit private concerns. In 1995, he spearheaded a $40 billion Mexican peso bailout that bypassed Congress. Summers personally leaned on the International Monetary Fund to provide nearly $18 billion for the package. Summers’ boss, then Secretary of the Treasury Robert Rubin, was former co-chairman of Wall Street giant Goldman Sachs — the Mexican government’s investment banking firm of choice.
Rubin continues to mentor another former employee of his with regular visits and chats — Treasury Secretary Geithner, who was head of the New York Federal Reserve, which pushed bailed-out insurance conglomerate AIG to cover up sweetheart deals for investment banks that benefited, you guessed it, Goldman Sachs.
As Obama harangues Wall Street to clean up its house, all the president’s Goldman Sachs men have their feet on the coffee table at his.
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Update: Well, well, well. Take a look at the White House visitor logs, courtesy of McClatchy:
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.
…Goldman’s connections to the White House and the Obama administration are raising eyebrows at a time when Washington and Wall Street are dueling over how to overhaul regulation of the financial world.
…According to White House visitor logs, Blankfein was among the business leaders who attended an Obama speech on Feb. 13, 2009, and he also joined more than a dozen bank CEOs in a meeting with Obama on March 27, 2009.
Blankfein also was supposed be among the CEOs who met with Obama in December, but he and two others phoned in from New York, blaming inclement weather.
He and his wife, Laura, were listed on the logs among 438 presidential guests at the Kennedy Center Honors the previous week.
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He knows he can’t flat out deny it because it may come out and then they have their own Watergate scandal.
But rest assured, they did talk about the investigation. You’d have to be as naive as Obama to believe otherwise.
Prosecutions now please. I can’t wait until November to get grand juries convened. This is going to take some time to wade through. As Slow Joe would say “This is a big effin’ deal!”
Can somebody explain to me how Blagojevich’s sins were so much worse that what Obama, Reid, Pelosi et al do most every day…i.e. the Louisiana Purchase and the cornhusker debacles a couple of weeks ago, and countless other bribes and arm twisting, that go on on a daily basis with this mob? Now Blago expects to subpoena nObama.
He may end up blowing the lid off this rotten kettle of rancid fish.
YOU GO ROD!!!
Man, Wall Street and Corporations and Big Business are all labeled (Alynsky) by Democrats as evil, horrible entities that need to be destroyed. It has worked. People really believe that corporations are bad. People who work in those corporations have bought into that nonsense as well. Even they can not understand that Wall Street and Corporations are good. They hire and PAY millions of people worldwide.
When will this lunatic reality end? Perhaps the tea party people can finally come out and vote this stupid thinking out of office. Not holding my breath though.
Talk about cutting off your nose to spite your face. Reptiles don’t have noses.
Need a whistle blower who has gathered enough information to take them down.
With that thought in mind, I would think that the Dems need to be infiltrated so they can be exposed.
The right needs it’s own group of Manchurian candidates to infiltrate and destroy the socialists that masquerade as Dems.
Blago better watch his back, or he may end up being Vince Foster’d.
Bertha Lewis says that the tea party movement is like a bowel movement.
If I would ever see her in a bar, I would gladly give her my stool.
Ethics are irrelevant in Chicago machine politics. The real sin is being stupid – thus getting caught – and the greatest sin is ratting out others when you do.
The intriguing prospect here is Barry having to lie under oath to cover his own corrupt a$$. I don’t believe it’s possible to come through Chicago politics and not stink coming out. The prospect of Barry perjuring himself under oath is a rather sweet thought.
Fannie and Freddie are the ACORN of Wall Street. Unless they are abolished… Rahm and Obama will simply use this Goldman-Sachs charade as nothing less than a crisis they can use to take control of the money…..
the really BIG money.
“never let a good crisis go to waste”
Their Socialist utopia dreams depend on the ability to control the money.
Without these new “reforms”…. “utopia” cannot be achieved.
SEC…
watching out for you and me.