Monday, November 02, 2009

Wall Street, DC

For the past coupla a few years I have been writing and thinking a lot about money and economics. Before then I used to always write about foreign policy, I don’t know why, for my professional expertise, or any of my Undergraduate, master of doctorate degrees are in the area of either foreign policy or economics. Moreover, nor am I a conspiracy theorist. I guess you can say I just like puzzles and problem solving and more importantly freely thinking for myself.

I have been consistent and even accurate in my analysis and evaluation with respect to the US government and the so-called representation of an economy it fosters. I have also been consistent in pointing out that there is no difference really between the political beasts we call Washington, DC and the financial varmints we label Wall Street. And for me there is no better example than the Crooks who operate at the top levels of Goldman Sachs. The way I have figured since the 1960, the folks who run and formulate Washington’s economic policy are the same folk who make fist full of loot for their own personal interest. Starting with the chief Thief in charge – Robert Rubin. Now Rubin was forced to resign from CitiGroup as its Chairman earlier this year for his messed performance. It was profitable for him seeing he left with more than 100 million in his pocket. However, he got his start with Goldman Sachs in the mid 1960s where he eventually became co-chairman in 1990. He was only around for a few years for afterwards he became Assistant to the President for economic policy and eventually US Treasury secretary in 1995.

Then there was Stephen Friedman who served as Chairman from 90 to 94 and as the director from 2005 to date. However in between he was the Chairman of the New York Federal Reserve from 2008-2009. Also there is Adam Storch (VP from 2004-2009 for GS) who now serves as the managing executive of the Security and exchange – as if we expect folks to police themselves. Henry Paulson was Chairman CEO of Goldman Sachs until he resigned to become US Treasury secretary in 2006 until 2009.

It also works the other way around. Michael Paese was deputy staff director on the House Financial services committee from 2007-2008 before becoming Director for Government Affairs for GS which he serves as today. Robert Zoellick was US trade representative from 2001-2005 as well as deputy secretary of state from 2005-06 before putting in work as a managing director at GS from 2006-2007.

This is just an example for I can say the same about Citigroup and others. In fact Geithner was VERY close to executives of Citigroup, ( Robert E. Rubin). Now all I am saying is that it is difficult for me to see how folks who created this problem while working both on Wall Street and In the Halls of Washington Politics can solve the problem. Moreover, I think it really show what the problem is. One of importance is revealed incessant incompetence. If most of us messed up dollars on our jobs at scales way less than what Rubin did at Citigroup – we would be fir4d and likely not be employed again. But not these folks. They are head of the game. And we Americans don’t get it, nor does Obama or any of them other politicians regardless of political affiliation. I don’t know about yawl, but I don’t trust nor love them Wall Street, DC hoes. I mean I do not see a difference between the two: Wall Street or DC, do or can you?


newilli said...

Good points Dawg, but I have to say that this is not limited to the financial sector; as I'm sure you know, any leaders/prominent figures in a particular industry can be fired from one company and WILL be picked up by another IN THE SAME INDUSTRY! I don't know if this is because organizations accept that vision & direction, even misguided, is a preferred alternative to stagnancy? Perhaps it's a group delusion - believing that the mistake(?) someone made yesterday can't possibly be made again today.
At any rate, I think that we must accept, and in many cases endorse, the fact that the people running organizations and our government will ALWAYS use one platform to jump to another - even those that don't deserve the opportunity.

Daddy Squeeze Me! said...


rainywalker said...

Raw Dawg,
Au fait and I took you for a Mel Gipson type with many copies of Catcher In The Rye stashed in a secret hiding place. I always consider the 13th Commandment. "Those with the gold makes the rules."

Curious said...

What's the difference between DC and Wall St ho's? The answer is the same as the slogan that real estate people say, "Location, location, location." It's how far each one can crawl up the other one's ass is the answer. But in the end it's just one big mess.

Tha BossMack TopSoil said...

Nice post my dude as always.

Acai said...

Great post!

RiPPa said...

This was a damn good post folk. You damn right, there ain't no difference between both parties as far as ideology goes. But I aint gon' lie: I hate conservatives, but I respect their gangsta in that they make no apologies about who the fuck they're down with.

Amenta said...

Big Brotha All Mi-T,
What more can be said. I suppose you as myself can't see a differnce because there really is none. Corporations are Corporations whether in Dc or New York. Ok maybe its like Curious said its only location...LOL

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