Meet your real administration.
A Goldman Sachs executive has been named the first chief operating officer of the Securities and Exchange Commission's enforcement division.The market watchdog agency said Friday that Adam Storch, vice president in Goldman Sachs' Business Intelligence Group, is assuming the new position of managing executive of the SEC division.
In October of last year, a Goldman Sachs Vice President, Neel Kashkari, was named by former Goldman CEO and then-Treasury Secretary Hank Pauslon to oversee the$700 billion TARP bailout. In January of this year, Tim Geithner hired a former Goldman Sachs lobbyist, Mark Patterson, to be his top aide and Chief of Staff. In March, President Obama nominated Goldman Sachs executive Gary Gensler to head the Commodity Futures Trading Commission, which regulates futures markets, even though (or "because") Gensler confessed to lax regulation during the Clinton administration over the very derivative instruments that caused the financial crisis. In April, Goldman hired as its top lobbyist Michael Paese, the top aide to Rep. Barney Frank on the House Financial Services Committee which Frank chairs.[...]
[T]he top economics official at the State Department is Robert Hormats, who spent the prior 27 years at Goldman Sachs, including as the Vice Chairman of Goldman's international arm.
[...]
Gene Spreling -- currently a top Geithner adviser (and former top aide to Goldman CEO Robert Rubin when Rubin was Tresasury Secretary) -- was paid close to $1 million last year by Goldman Sachs for consulting work.
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Bloomberg documented that "[s]ome of Treasury Secretary Timothy Geithner’s closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms." Also: "Geithner’s predecessor, Henry Paulson, brought on a coterie of non-confirmed advisers from Goldman Sachs at the end of his term."
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As Michael Moore has been pointing out, Goldman was the number one source of funding for the Obama 2008 presidential campaign. The bailout of AIG -- which resulted in massive federal government monies to Goldman -- was engineered at a meeting between Paulson, Geithner and Goldman CEO Lloyd Blankfein. Last year, Goldman paid top Obama economics adviser Larry Summers $135,000 for a one-day visit to Goldman.
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Geithner's contacts with Blankfein alone outnumber his contacts with Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee.
Goldman said it earned $3.19 billion between July and September, nearly the most it has ever made in three months, a record it set earlier this year.
....but hey, do what you want....you will anyway.
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