Another fox has been selected to guard the Hen House. I'm speaking of Adam Storch, a 29-year-old former employee in Goldman Sachs Group Inc.’s business intelligence unit, who has just been hired as the Chief Operating Officer of the SEC. I guess the folks at Goldman Sachs, who received $64 billion in public funding, which they just used to finesse a $10 billion in revenues, can get on with "business as usual." Storch joins all the other former employees of Goldman Sachs who have held key government and regulatory posts, like Hank Paulson, former Goldman CEO and US Treasury Secretary, and a host of others. In fact, it would be hard not to find a former employee of Goldman Sachs nested in the heart of any key government or regulatory agency these days. There have been numerous articles written on this subject, so the curious may consider the following links:
How Goldman Sachs Took Over The World (The UK Independent)
The Guys From Government Sachs (NY Times)
Does Goldman Sachs Run The Government? (Washington's Blog)
And you can Google up the rest if you are so inclined. The point of all of this is obvious. There is an entrenched power elite that pretty much runs everything these days. They have so much power that they make sure it continues from one generation to the next, with key operatives occupying essential corporate and government positions. This is no "conspiracy theory," it's just the way the world works. Orwell said it best: "Some Animals are more equal that other Animals." But when has it ever been otherwise? It is simply our modern day equivalent of dynastic rule, only instead of blood lines we select our big chiefs based on financial connections.
What should be also obvious about this is that all the high sounding talk about democracy and the land of opportunity here in the US is basically a myth. It makes us feel good, like a bedtime story told to kids each night. We make a big deal about it on July 4th while we are watching fireworks and stuffing our mouths with hamburgers and hot dogs. Nobody much thinks about how Goldman Sachs used $64 billion in public funding to make a train load of cash so they could do it all over again next quarter. Americans may as well write "Goldman Sachs" on their next check to the IRS. But most of this is beyond the awareness or concern of most Americans. Too much thought about that would just give them heartburn. So the world goes merrily on.
Occasionally a story breaks, like the appointment of a 29 year old kid from Goldman to a powerful regulatory post overseeing the activities of investment firms like...Goldman Sachs. (???) This just passes quickly through the news pipeline with a few complaints from bloggers and an occasional journalistic outcry from a newspaper. Otherwise it's just business as usual. It gets lost in all the other bewildering stories of the day: like the exemption given to 8000 of the 8200 US banks by the House Financial Services Committee--they will be exempt from oversight by a new agency created to protect consumers from abusive or deceptive credit cards. The lobbyists are quite happy with that little victory. And curiously, next comes First Premier Bank of South Dakota, now issuing credit cards with an annual interest rate of 79.9% (No typo...that's a whisker under eighty percent). I guess they always did things big in South Dakota.
He that hath an eye, let them see.
How Goldman Sachs Took Over The World (The UK Independent)
The Guys From Government Sachs (NY Times)
Does Goldman Sachs Run The Government? (Washington's Blog)
And you can Google up the rest if you are so inclined. The point of all of this is obvious. There is an entrenched power elite that pretty much runs everything these days. They have so much power that they make sure it continues from one generation to the next, with key operatives occupying essential corporate and government positions. This is no "conspiracy theory," it's just the way the world works. Orwell said it best: "Some Animals are more equal that other Animals." But when has it ever been otherwise? It is simply our modern day equivalent of dynastic rule, only instead of blood lines we select our big chiefs based on financial connections.
What should be also obvious about this is that all the high sounding talk about democracy and the land of opportunity here in the US is basically a myth. It makes us feel good, like a bedtime story told to kids each night. We make a big deal about it on July 4th while we are watching fireworks and stuffing our mouths with hamburgers and hot dogs. Nobody much thinks about how Goldman Sachs used $64 billion in public funding to make a train load of cash so they could do it all over again next quarter. Americans may as well write "Goldman Sachs" on their next check to the IRS. But most of this is beyond the awareness or concern of most Americans. Too much thought about that would just give them heartburn. So the world goes merrily on.
Occasionally a story breaks, like the appointment of a 29 year old kid from Goldman to a powerful regulatory post overseeing the activities of investment firms like...Goldman Sachs. (???) This just passes quickly through the news pipeline with a few complaints from bloggers and an occasional journalistic outcry from a newspaper. Otherwise it's just business as usual. It gets lost in all the other bewildering stories of the day: like the exemption given to 8000 of the 8200 US banks by the House Financial Services Committee--they will be exempt from oversight by a new agency created to protect consumers from abusive or deceptive credit cards. The lobbyists are quite happy with that little victory. And curiously, next comes First Premier Bank of South Dakota, now issuing credit cards with an annual interest rate of 79.9% (No typo...that's a whisker under eighty percent). I guess they always did things big in South Dakota.
He that hath an eye, let them see.
