Enter your Email Address


Useful Links

Know What The Insiders Are Doing!
Make a Living as a Trader
Stock Trading Software

More Links




[Most Recent Quotes from www.kitco.com]

[Most Recent Quotes from www.kitco.com]





NY Fed Chairman Stephen Friedman Pockets $1.7 from GS Shares

Contrarian Profits (May 8th, 2009) Writes:

Guess which investment bank has done the best under the patronage of Team Obama? Hint: It’s the same bank whose former CEO wrote the rules of the $700 billion TARP. The same bank that has had the good fortune of seeing two of its former employees fill the role of the past and current head of the New York Fed.

The same bank whose employees were Wall Street’s biggest contributors to President Obama’s electoral campaign.

Still stuck? Here’s another hint: It rhymes with “Golden Sacks.” That’s right! Since Team Obama took over the reins of power, shares in Notes’ favorite whipping boy, Goldman Sachs, are up 132%. Now, there’s a coincidence.

And if you aren’t convinced that there are certain “perks” tied to the close relationship between Goldman Sachs and the government, consider the case of New York Fed chairman Stephen Friedman.

According to The Wall Street Journal, Friedman, who once ran Goldman, made

...

Is Goldman Sachs Controlling Washington?

Contrarian Profits (May 4th, 2009) Writes:

Contrary to the prevailing analysis, we believe that the Obama and Bush administration insistence on protecting banks at the expense of the taxpayer is the result of a Machiavellian effort by Goldman Sachs and other major banks to influence U.S. economic policy by infiltrating the corridors of power.

Today, we duly note that Goldman Sachs has just hired former Barney Frank staffer Michael Paese to be its top Washington lobbyist. This position was formerly held by Mark Patterson, the current chief of staff at the Treasury.

Pease and Patterson are not the only ones to pass through the revolving door between Washington and Goldman. Bush’s Treasury secretary, Hank “The Hammer” Paulson is a former Goldman CEO. And his replacement, Tim Geithner, was mentored by Gerald Corrigan, a former New York Fed president and current partner and managing director of the Office of the Chairman of Goldman Sachs.

Who else was President Obama considering

...

Newsletter

No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.