The Obamanation

Originally Posted by Yznhymr

Where are the facts? What Gov't body has published data to support your comments? IMO??? Really? Your opinion? Means shit.

HOLD IT!!!!! Hold it!!! This is crazy! Why ridicule such a brilliant political commentator? This person is a genius! Everything based on fact from reliable sources and nothing ever based on fallible opinion! I admit it, I am wrong and redux is right! All hail redux! fuck stick

The BLS data is as factual as any you can find ...or, at the very least, if you dont trust govt data, was compiled the same way as previous administrations.....so Merc's suggestion that Obama was lying when using the same official standard (U-3) as Bush, Clinton, Bush, Reagan... was simply wrong. That is a fact.

The rest was my opinion...which is no shittier than yours or Mercs.

[Yznhymr]

Originally Posted by Redux

The BLS data is as factual as any you can find ...or, at the very least, if you dont trust govt data, was compiled the same way as previous administrations.....so Merc's suggestion that Obama was lying when using the same official standard (U-3) as Bush, Clinton, Bush, Reagan... was simply wrong. That is a fact.

The rest was my opinion...which is no shittier than yours or Mercs.

Merc who? No idea what you are talking about.

I don't read this forum. I just like baiting stupid assholes. You are making this way too easy! PS. Merc must be really cool to get you going like this!

[xoxoxoBruce]

You've been drinking again, haven't you.

[Yznhymr]

Originally Posted by xoxoxoBruce

You've been drinking again, haven't you.

xoB you know me so well.

Actually, I was in a wanker of a mood. Long hours at work trying to avoid the unemployment line (yes I read other forums in the cellar!) and blah blah blah...<2 hours later - the redux method> just finally decided to called it like I saw it.

Nothing personal against anyone who would use a moniker that is synonymous with airplane glue (which explains A LOT!). Damn, I just can't help myself!

[xoxoxoBruce]

Yeah, I know... it's your mother's fault.

[Yznhymr]

Originally Posted by xoxoxoBruce

Yeah, I know... it's your mother's fault.

Dude...nothing gets by you!

[TheMercenary]

So how many members of the current Obama Administration use to work for or were directly involved in the investment banking giant Goldman Sachs?

http://online.wsj.com/article/SB1000...NewsCollection

Originally Posted by TheMercenary

So how many members of the current Obama Administration use to work for or were directly involved in the investment banking giant Goldman Sachs?

http://online.wsj.com/article/SB1000...NewsCollection

A bit of recent history:

In 2004, at the request of the major Wall Street investment houses—including Goldman Sachs, then headed by Paulson—the U.S. Securities and Exchange Commission agreed unanimously to release the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. The complaint put forth by the investment banks was of increasingly onerous regulatory requirements—in this case, not U.S. regulator oversight, but European Union regulation of the foreign operations of US investment groups. In the immediate lead-up to the decision, EU regulators also acceded to US pressure, and agreed not to scrutinize foreign firms' reserve holdings if the SEC agreed to do so instead. The 1999 Gramm-Leach-Bliley Act, however, put the parent holding company of each of the big American brokerages beyond SEC oversight. In order for the agreement to go ahead, the investment banks lobbied for a decision that would allow "voluntary" inspection of their parent and subsidiary holdings by the SEC.

During this repeal of the net capital rule, SEC Chairman William H. Donaldson agreed to the establishment of a risk management office that would monitor signs of future problems. This office was eventually dismantled by Chairman Christopher Cox, after discussions with Paulson. According to the New York Times, "While other financial regulatory agencies criticized a blueprint by Treasury Secretary Mr. Paulson proposing to reduce their stature — and that of the S.E.C. — Mr. Cox did not challenge the plan, leaving it to three former Democratic and Republican commission chairmen to complain that the blueprint would neuter the agency."[12]

The Paulson above was Henry Paulson, the CEO of Goldman Sachs thought 2006 at which time he became Bush's Sec. of Treasury (no relation to John Paulson/Paulson Hedge Fund)

And was instrumental in one of his first act's as Treasury Sec., along with Chris Cox, Bush's SEC Chairman, of gutting SEC's regulatory oversight of the "net capital rule"

Securities fraud charges against Goldman Sachs are just the beginning of steppped up SEC (and DoJ) investigations of the fraudlent practices of the 2000s, when there was virtually no oversight.

It seems to me to be a good thing that the SEC doing its job rather than gutting and ignoring its oversight responsibilities.

Thats all for now.

[TheMercenary]

From those partisans over at ABC....

Another Lobbyist Headed Into Obama Administration
27 Jan 09

Despite President Barack Obama's pledge to limit the influence of lobbyists in his administration, a recent lobbyist for investment banking giant Goldman Sachs is in line to serve as chief of staff to Treasury Secretary Timothy Geithner.

Obama administration sources insists that Treasury Secretary Tim Geithner is "unflappable" and that there's "no daylight" between him and President Barack Obama on how to handle AIG or the broader financial crisis, March 18, 2009.
(Reuters/Getty Images)Mark Patterson was a registered lobbyist for Goldman until April 11, 2008, according to public filings.

Patterson first began lobbying for Goldman Sachs in 2005, after working as policy director for then-Senate majority leader Tom Daschle. According to publicly filed lobbying disclosure records, he worked on issues related to the banking committee, climate change and carbon trading and immigration reform, among others.

Patterson's lobbying was first noted by the National Journal magazine.

Patterson is one of over a dozen recent lobbyists in line for important posts in the Obama administration, despite a presidential order severely restricting the role of lobbyists in his administration, the magazine reported.

http://abcnews.go.com/Blotter/story?id=6735898&page=1

[TheMercenary]

From those partisans at Rolling Stone mag...

Obama's Big Sellout
The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway

http://www.rollingstone.com/politics..._sellout/print

Read it and weep....

So Paulson (Goldman Sachs -- > Treasury Sec) and Bush's SEC Chairman gutting the net capital rule in 2006 was not a bad thing...but the Obama SEC investigating and filing fraud charges is a step in the wrong direction?

[TheMercenary]

No connections here people just put your blinders on...

Dianna Farrell:

Obama Administration: Deputy Director, National Economic Council
Former Goldman Sachs Title: Financial Analyst

Stephen Friedman:

Obama Administration: Chairman, President’s Foreign Intelligence Advisory Board
Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005-)

Gary Gensler:

Obama Administration: Commissioner, Commodity Futures Trading Commission
Former Goldman Sachs Title: Partner and Co-head of Finance

Robert Hormats:

Obama Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department
Former Goldman Sachs Title: Vice Chairman, Goldman Sachs Group

Philip Murphy:

Obama Administration: Ambassador to Germany
Former Goldman Sachs Title: Head of Goldman Sachs, Frankfurt

Mark Patterson:

Obama Administration: Chief of Staff to Treasury Secretary, Timothy Geitner
Former Goldman Sachs Title: Lobbyist 2005-2008; Vice President for Government Relations

John Thain:

Obama Administration: Advisor to Treasury Secretary, Timothy Geitner
Former Goldman Sachs Title: President and Chief Operating Officer (1999-2003)

Henry Paulson:

Bush II Administration: Secretary, Treasury 2006 - 2009
Former Goldman Sachs Title: Chairman and CEO (1998-2006)

Neel Kashkari:

Bush II Administration: Assistant Secretary for Financial Stability, Treasury (2008 – 2009)
Former Goldman Sachs Title: Vice President, San Francisco; led Information Technology Security Investment Banking Practice

Reuben Jeffery III:

Bush II Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department (2007 –2009)
Former Goldman Sachs Title: Managing Partner Paris until 2002 Security Investment Banking Practice

Robert Steel:

Bush II Administration: Under Secretary for Domestic Finance, Treasury, (2006 – 2008)
Former Goldman Sachs Title: Vice Chairman – 2004

Steve Shafran:

Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008
Former Goldman Sachs Title: Private equity business in Asia until 2000

Edward C. Forst:

Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008
Former Goldman Sachs Title: Co-head of Goldman’s investment management business

Dan Jester:

Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008
Former Goldman Sachs Title: Deputy CFO

Kendrick R. Wilson III:

Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008
Former Goldman Sachs Title: Chairman of Goldman’s financial institutions groups

Joshua Bolten:

Bush II Administration: White House Chief of Staff (2006 – 2009)
Former Goldman Sachs Title: Executive Director, Legal & Government Affairs (1994-99)

Gary Gensler:

Bush II Administration: Undersecretary, Treasury (1999-2001) and Assistant Secretary, Treasury (1997-1999)
Former Goldman Sachs Title: Partner and Co-head of Finance

Robert Rubin:

Bush II Administration: Secretary, Treasury 1995-1999
Former Goldman Sachs Title: Vice Chairman (1987-90)

Robert Zoellick:

Bush II Administration: United States Trade Representative (2001-2005), Deputy Secretary of State (2005-2006), World Bank President (2007 -)
Former Goldman Sachs Title: Vice Chairman, International (2006-07)

William C Dudley:

NY Federal Reserve: Current President/CEO
Former Goldman Sachs Title: Partner and managing director – 2007

Stephen Friedman:

NY Federal Reserve: Former Chairman of the Board – 2009
Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005-)

Other Noteworthy Appointees:

Edward Liddy:

Current Title: AIG CEO
Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005-)

Duncan Niederauer:

Current Title: Chair/CEO NYSE
Former Goldman Sachs Title: Managing Director – 2007

Malcolm Turnbull:

Current Title: Federal Leader, Liberal Party, Australia
Former Goldman Sachs Title: Partner (1998-2001)

Mark Carney:

Current Title: Governor, Bank of Canada
Former Goldman Sachs Title: Managing Director Goldman Sachs Canada until 2003

David Watson:

Current Title: Monetary Policy Committee, Bank of England
Former Goldman Sachs Title: Chief European economist

Romano Prodi:

Current Title: Prime Minister of Italy (1996-1998 and 2006-2008) and President of the European Commission (1999-2004)
Former Goldman Sachs Title: Paid adviser/consultant 1990 – 1993

Mario Draghi:

Current Title: Governor of the Bank of Italy (2006- )
Former Goldman Sachs Title: European Deputy Chairman/Partner until 2006

Massimo Tononi:

Current Title: Italian Deputy Treasury Chief (2006-2008)
Former Goldman Sachs Title: Partner 2004 - 2006

http://the-classic-liberal.com/white...n-sachs-house/

Oh, and then there is this...

Goldman Sachs’ White House ties run deep

http://blog.littlesis.org/2009/07/20...ties-run-deep/

[tw]

Now that health insurance has been addressed, then why is the finance industry to next target of reform and regulation? Why do so many 'insiders' want to, for example, expose outright fraud in Goldman Sachs?

So many posts complete ignored the news.

[TheMercenary]

"Millions of Shovel Ready Jobs!"

Really, where the fuck are they?

[Clodfobble]

At the IRS office.