Goldman Sachs & Hillary Clinton – A Marriage Made in Washington
by Martin Armstrong, Armstrong Economics
Hillary Clinton is already bought and paid for, She netted $400,000 for giving two speeches for a few minutes at Goldman Sachs. This is by no means a speaking fee. This is what I believe is outright bribery. A speaking fee will be $35,000 to $50,000 tops. She has nothing to offer Wall Street for $400,000. Even the FT recently reported that Goldman Sachs returns to political center stage. Even the top five contributors to Hillary’s bid for the Senate back in 1999 were:
- Citigroup Inc ….. $782,327
- Goldman Sachs ….. $711,490
- DLA Piper ….. $628,030
- JPMorgan Chase & Co ….. $620,919
- EMILY’s List ….. $605,174
Gary Gensler (born October 18, 1957) worked at Goldman Sachs for 18 years and at 30 became the youngest partner. He then, like most people from that firm, strangely seem to suddenly care about how government functions and then crosses over into public life after filling their pockets at Goldman,
Yes he was nominated by Obama to be the 11th chairman of the Commodity Futures Trading Commission in 2009, which is the most notoriously corrupt regulator perhaps in the world. Lawyers joke about the CFTC saying that they hire the lawyers the SEC rejects.
It was Bill Clinton who opened the door for Gensler to serve in the United States Department of the Treasury as Assistant Secretary for Financial Institutions from 1997-1999, and then as Undersecretary for Domestic Finance from 1999-2001. As Assistant Secretary, Gensler served as a senior adviser to the Secretary of the Treasury in developing and implementing the federal government’s policies for debt management and the sale of U.S. government securities. Keep in mind that this is also when Robert Rubin came from Goldman under Clinton to head up the Treasury. Some inside sources said that it was Rubin who recruited him from Goldman.
As Undersecretary of the Treasury for Domestic Finance, Gensler participated in the repeal of Glass-Steagall in 1999. He generally assisted Treasury Secretaries Robert Rubin and Lawrence Summers on all aspects of domestic finance, which was the whole deregulation to free up banks making that shift from Relationship Banking to Transactional Banking. This certainly included formulating policy and legislation in the areas of financial institutions, public debt management, capital markets, government financial management services, federal lending, fiscal affairs, government sponsored enterprises, and community development, all of which were altered to set the stage for the major financial crisis in 2007-2009 and now he his on board with Hillary.
Gensler was not done. After leaving the Clinton Administration in 2001, he then joined the staff of U.S. Senator Paul Sarbanes, Chairman of the Senate Banking Committee, as a senior adviser writing the Draconian Sarbanes-Oxley law which was touted to tighten accounting standards in the wake of the Enron and WorldCom scandals. However, this law increased the burdens upon corporate management requiring investment banking adviser.
Gensler will fully support the tax on money (negative interest rates) that was floated by Larry Summers who claim to fame was simply being a man without practical experience functioning as a professor of economics . From 1991 to 1993 Summers was chief economist of the World Bank and from 1995 to 1999, he was Deputy Minister of Finance under Robert Rubin at the US Treasury and then 1999-2001 he became US Treasury Secretary, of course, under Bill Clinton. Summers was the immediate successor of Robert Rubin. Then in 2008 Obama announced that Summers would be National Economic Advisor to the Government. The position he held of finance minister under Robert Rubin, was then filled by Timothy F. Geithner.
Summers retired in 2010 from the National Economic Council to return to Harvard. Once in the game, you never leave. Summers delivered a balloon speech at the IMF Research Conference on November 8th, 2013, which he launched the tax on money idea presenting it as NEGATIVE INTEREST RATES. So all those who saved for retirement who have watched their savings amount to nothing to live on, should include Larry Summers on their Christmas card list or just send him a thank you note for wiping out your future to protect his banker buddies,
So here we go again with more Clinton cronies to wipe out society and Western Civilization and they filler there pockets with mints as they leave the restaurant where someone else paid the bill.