Government Sachs, errr Goldman

This is covered in great detail on many other sites and blogs, but I am going to get it in here as well...it is important for everyone possible to know the degree that our government and Goldman Sachs are in bed with one another...a scandal/conspiracy IN PLAIN SIGHT.

Here are some assorted clips from other sites regarding Goldman Sachs, PIMCO, TARP, TALF PPIP and other related topics:

‘Government Sachs’ Is Back

Who's designing Geithner's rescue plan? Goldman guys, of course.

As it was in the beginning, so shall it be in the end: Goldman Sachs will be there.

Back in the '90s and through the mid-'00s, major figures from Goldman Sachs such as Robert Rubin, Gary Gensler and Hank Paulson stood fast against derivatives regulation (Rubin and Gensler) and lobbied successfully for higher leverage ratios so they could bet more of their capital on the market boom (Paulson). When those policies came to grief and Wall Street imploded, and the Feds scrambled to rescue stricken insurance giant AIG, Goldman CEO Lloyd Blankfein was reportedly the only bank executive invited to an emergency meeting at the New York Federal Reserve (convened by then-Fed president Tim Geithner).

Now Treasury Secretary Geithner—a Rubin protégé, of course—has assigned two more ex-Goldman men to fix the vast mess their colleagues helped to create.

They are Steve Shafran, a former favorite of Paulson's, and Bill Dudley, Goldman's former chief economist and now the successor to Geithner as head of the New York Fed
Link to above

One on PPIP:

The PPIP is potentially a subsidy for a variety of financial institutions, many of whom have been seen in the markets buying toxic waste at 30 cents so that they may sell it to Tim Geithner’s Treasury at 80 cents. Some large bank CEOs will protest being “forced” to sell assets, but they will eventually rollover rather than be “Rick Wagonered” by Geithner et al. But the big payoff could be for the likes of our friends at PIMCO, Blackrock (NYSE:BLK) and the other asset managers who will be called upon to maintain this floating superfund site.
Link to above

How about reading Taxing grandma to pay Goldman Sachs, which includes the following:

Many retirees depend on interest from certificates of deposit. Those rates are down dramatically, and as CDs expire retirees are compelled to reinvest their savings at lower rates and live on less. They can take comfort that their sacrifices are helping pay off Wall Streets losses from the lavish bonuses paid bankers. For example, the $70.3 million Goldman doled to CEO Lloyd Blankfein in 2007.

Some other good reading on GS "earnings" for Q1 here. And a good blog to follow for this kind of stuff here. A link to a blog on Wells Fargo stress test.