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.
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