More Political Capture: Goldman Hires Top Republican Fed Transparency Foe; Spends More Time With SEC Than Any Other Bank

Tyler Durden's picture

The name Judd Gregg is not new to Zero Hedge readers. Back in the 2009-2010 battle for Fed transparency, which continues to be only fractionally on the way to being won, Gregg, who then served as the top Republican on the Budget Committee and a member of the Banking Committee, said that "opponents of Federal Reserve Chairman Ben Bernanke's second term are
guilty of "pandering populism,"." Odd that these populism panderers, of which Zero Hedge was a proud member, ultimately succeeded in not only getting a one time Fed audit, but also won the legal case initiated by Mark Pittman to expose the Fed's dirty laundry, without which we would not know that not only did the Fed bail out primarily foreign investment banks during the financial crisis, but also that the biggest user of the Fed's somewhat secret Short Term Open Market Operations facility, also known as a 0.01% subsidy, was none other than Goldman Sachs, contrary to the firm's sworn statements that it did not really need bailing out. Gregg continued: "There's a lot of populism going on in this country right now, and I'm tired of it." Gregg warned that the growing tide of populism would threaten some of the most central institutions to the economy's recovery. "What it's going to do is burn down some of the institutions which are critical to us as a nation and as an economy to recover and create jobs," he warned." It was therefore only a matter of time that Gregg, following the end of his political career, has decided to step down, and work for one of these "central institutions to the economy's recovery" - Goldman Sachs. As such we present the list of companies that courtesy of their "top contributor" status with the senator over the years, are about to get preferential treatment from Goldman's sell side analysts, and see a prompt upgrade to Buy and/or Conviction Buy list in the near term. After all there is no such thing as squid-pro-zero in a world controlled by Wall Street's institutions "central to the economy's recovery."

From Open Secrets:

And speaking of Squid Pro Quo, readers may be surprised (or not at all) to discover that of all bankers, the SEC's Mary Schapiro, better know for letting the whole Madoff fiasco slip through her fingers, and letting Goldman get away with nothing more than a wristslap for the Abacus scandal, spent more time with Lloyfd Blankfein than any other executive from Wall Street. One wonders just what they were talking about for so long and on so many occasions.

Bloomberg reports:

After eight days on the job, U.S. Securities and Exchange Commission
Chairman Mary Schapiro sat across from Lloyd Blankfein, chairman and
chief executive officer of Goldman Sachs Group Inc., for her first meeting with one of the Wall Street executives she would regulate.

Following that Feb. 5, 2009, meeting, Goldman officials were frequent
guests during her first two years, logging 10 meetings with the
chairman — more than any other bank — according to her personal calendar
for 2009 and 2010.

So for all those hoping for change to Wall Street's criminal practices, the focus should first be on changing those in both the legislative and regulatory bodies who not only allow, but actively encourage this kind of behavior. But this naturally harkens to the whole topic of just how real the US democratic regime truly is. And for an indepth observation on this so critical topic, we refer readers to Paul Craig Roberts recent interview with Max Keiser in which he so correclty pointed out: "There is no democracy, there are oligarchies, some of
these smaller European countries are not even run by their own
governments, they are run by Wall Street... There is probably more
democracy in China than there is in the west. Revolution is the only
answer... We are confronted with a curious situation. Throughout the
west we think we have democracy, we hold ourselves up high, we demonize
China, we talk about the mafia state of Russia, we talk about the Arabs
and so on, but where is the democracy here?" He is spot on. Nothing short of a revolution has any chance of changing an embedded regime whose status quo demands, in plain view of the "law",  the routine rape of the middle class to the benefit of the uber-wealthy.

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Quixotic_Not's picture

Discretionary prosecution is the banksters' friend.

Careless Whisper's picture

You wanted a perp walk? OK you got one.

Arrested For Allegedly Filing False Docs in Palm Beach County Clerk's Office

Palm Beach County Clerk of Courts Sharon Bock warned Friday that homeowners should watch for false or fraudulent filings made on their homes.

...two notaries who admitted to detectives that they would stamp the deeds even though the owner of the property wasn't present.

and in case you may have been wronged --- report wrongful activity:

"Much like you check your credit report to make sure that you haven't become the victim of identity theft, Palm Beach County residents should proactively check the official records to ensure that all mortgages, deeds, liens and other recorded documents are accurate," Bock said.

http://www.palmbeachpost.com/money/real-estate/wellington-man-accused-of...

 



caconhma's picture

Who Said It? Ten short questions:

This is a fun quiz. Listed below are 10 direct quotes. You have to guess which American politician said it.

Your four choices are:
Former Alaska Governor Sarah Palin
Former VP Dan Quayle
President Barack Obama
Former President George W. Bush

Ready? Go!

1) "Let me be absolutely clear. Israel is a strong friend of Israel ’s."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

2) "I've now been in 57 states I think one left to go."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

3) "On this Memorial Day, as our nation honors its unbroken line of fallen heroes, and I see many of them in the audience here today."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

4) "What they'll say is, 'Well it costs too much money,' but you know what? It would cost, about. It it it would cost about the same as what we would spend. It. Over the course of 10 years it would cost what it would costs us. (nervous laugh) All right. Okay. We're going to. It. It would cost us about the same as it would cost for about hold on one second. I can't hear myself. But I'm glad you're fired up, though. I'm glad."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

5) "The reforms we seek would bring greater competition, choice, savings and inefficiencies to our health care system."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

6) "I bowled a 129. It's like - it was like the Special Olympics, or something."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

7) "Of the many responsibilities granted to a president by our Constitution, few are more serious or more consequential than selecting a Supreme Court justice. The members of our highest court are granted life tenure, often serving long after the presidents who appointed them. And they are charged with the vital task of applying principles put to paper more than 20 centuries ago to some of the most difficult questions of our time."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

8) "Everybody knows that it makes no sense that you send a kid to the emergency room for a treatable illness like asthma, they end up taking up a hospital bed, it costs, when, if you, they just gave, you gave them treatment early and they got some treatment, and a, a breathalyzer, or inhalator, not a breathalyzer. I haven't had much sleep in the last 48 hours."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

9) "It was interesting to see that political interaction in Europe is not that different from the United States Senate. There's a lot of I don’t know what the term is in Austrian, wheeling and dealing."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

10) "I have made good judgments in the past. I have made good judgments in the future."
A. Barack Obama
B. Dan Quayle
C. Sarah Palin
D. George W. Bush

All of the correct answers are the same person. Each of these quotes are directly from President Barack Obama.

Now you know why he brings his teleprompter with him everywhere he goes ...even when talking to a 6th grade class. But many members of the mainstream media continue to insist he is "The smartest man ever elected to the Presidency." Right!

tarsubil's picture

This is a fun quiz. Listed below are 10 fun facts. You have to guess which American politician it relates to.

Barack Obama 

George W Bush

1 Went to Harvard

2 Snorted coke

3 Started war(s) in the middle east or north africa

4 Continued war(s) in middle east or north africa

5 Nominated Ben Bernanke for Chairman of the Fed

6 Sucks dick

7 Socialist

8 Did I mention they suck dick?

9 Really, they both do

10 I'm fucking serious!

Fuck you!

rocker's picture

Now that J.P.Morgan has said I'm sorry for the repos on military personnel they believe all fines will be removed. Hmmm. 

Quinvarius's picture

He grows weary of the populist anger at being robbed by the people who were trusted with the nation's finances.  All I can picture is this guy saying that in public and then immediately being hit in the face with a shovel.

tickhound's picture

Judd Gregg... Redefining conservatism one corporate welfare institution at a time.

ConfederateH's picture

Judd Gregg, king Rino.  He almost joined the Obama administration in an attempt to provide the Democrats with a "bi-partisan" cover.

macholatte's picture

The Republican Progressive couldn't handle the Democrat Progressive. How bad could it have been? Jesus. Doesn't this qualify as economic terrorism?

 


Life is a corrupting process from the time a child learns to play his mother off against his father in the politics of when to go to bed; he who fears corruption fears life.
Saul Alinsky

The history of the last century shows, as we shall see later, that the advice given to governments by bankers, like the advice they gave to industrialists, was consistently good for bankers, but was often disastrous for governments, businessmen, and the people generally.
Carroll Quigley
/

tickhound's picture

"Life is a corrupting process from the time a child learns to play his mother off against his father in the politics of when to go to bed..." Saul Alinsky

Saul's life fears are flawed, there is no corruption... Mom and Dad are now the same person, they drink the same coffee and adhere to a universally accepted bed time. 

"Life is an accepting process from the time a child learns to obey his parents' bed time as decided by the state; he who fears dictation fears life."

-The Other Guys, Federal Reserve Scene

http://www.youtube.com/watch?v=mv7CtLrQ3hU

JW n FL's picture

http://www.banktech.com/articles/229700093?cid=nl_bnk_daily

Top U.S. Lobbying Banks Got Biggest Bailouts

 

1.    [PDF]

A Fistful of Dollars:Lobbying and the Financial Crisis; Financial ...

File Format: PDF/Adobe Acrobat - View as HTML
A Fistful of Dollars: Lobbying and the Financial Crisis by. Deniz Igan ...
www.imf.org/external/np/res/seminars/2009/arc/pdf/Mishra1.pdf

dick cheneys ghost's picture

2 bit whores.........every single one of them........

 

school kids in vegas are selling lemonade in order to save teachers....this is what we have come down too.......thanks congress

Rusty_Shackleford's picture

Hey. 

 

Are they paying state and federal income taxes on that?  Does that lemonade stand meet OSHA and USDA standards?

 

http://tucsoncitizen.com/view-from-baja-arizona/2011/05/25/missouri-fami...

Quixotic_Not's picture

The looting will continue until morale improves! ~ U.S. Treasury motto 2008-2012

Adios ZH, gotta get busy!

Confuchius's picture

Gerald Celente (TrendsResearch) always said: "When they have nothing left to lose they lose it".

JW n FL's picture

Stealing $2.5 surplus from Social Security - Robbing The Middle Class http://goo.gl/m8QMq

JW n FL's picture

http://research.stlouisfed.org/fred2/series/BASE 3 Years 300% More Dollars Printed Out of Thin Air!

JW n FL's picture

Corporations Own the Lobby!

 

The Lobby Owns the Government!

 

Law Enforcement works for the Duly Elected Lobby Whores!

 

“We the People” are Screwed!

Ponzi Unit's picture

En bas les aristos!

Dirtt's picture

Everyone knows the ONLY way to fix the economy is to grow the Life Sentence Industry.  I'm a La Guillotine kinda guy but I'm also flexible.

Don't see any other way. This will not end well.  Even if we all go Max Bernbaum ("Continental Divide") this will not end well.

2012 will be a fascinating year.  Nothing would be more triumphant than seeing a pack of wild Tea Party girls impaling their spears into the skulls of The Squid & DoGSoRoS. NOTHING.

For all you faggot Tea Party haters, I'm sure David Plouffe can arrange your colon therapy.

JW n FL's picture

how does that Koch Bros dick taste after they get done ass fuckin you boy?

 

I think the gays would be offended for having to suffer the Koch Bro Hooker Brigade!

 

Enjoy the tea bagging, an ya'll can always go back to your republican routes for meth and boy toy prostitutes!

ebworthen's picture

 

Judd Gregg - doing his part to prove that most politicians are little more than equivocating whores.

 

Yardfarmer's picture

ah yes, one does grow exceedingly weary of this endless incestuous clusterfuckery of the financial/political revolving door which regularly debouches in oozing slime such human excrement as Gregg for our disgusted and nauseous consideration. such a plague of hypocrisy, self interest and mendacity finds its ultimate resting place only in some circle of Dante's Hell.

cosmictrainwreck's picture

I'd reverse-junk you for your eloquence, if I could, & do concur

XRAYD's picture

All while the people are forced to eat I-pads, and instead of death panels, the Republicans want to throw grandma off the cliff into the lap of the Insurance companies with 50% off vouchers to buy health insurance.

Only a coincidence that according to the ZH list, #1 contributor to Judd Gregg's Senate campaigns is Blue Cross/Blue Shiels; #4 Liberty Mutual Insurance! 

ebworthen's picture

Exactly.

And the biggest shadow tax of history - "insurance".

Insurance isn't insurance anymore, it is a taxation proxy that feeds big pharma and Wall Street.

If we could each label the fees and costs and insurance and every other dollar that is hung about our necks labeled with "deductible" or "co-pay" or "adjustment" or "rebate" or "discount" or "sale" or the other euphamistic bullshit NOT TO MENTION that anything we try to invest is taxed thrice coming and going we are taxed at 50%+

disabledvet's picture

we can look back (Goldman) or look forward (Buffet.)  "Regulatory capture does not prevent the disaster."  If anything exists to say "we saw it coming before you and got a short term benefit but that's it" it's Goldman Sachs.  Whatever one thinks of character (and i think highly of it of course) "once bit twice" is something "the marketplace" remembers as well.  You will get no argument with me of course that "in the name of a crisis" mistakes were made.  Vote accordingly.  By all means of course "in the name of a recovery" do not.  "Closing your mouth is one thing...closing your mind something else entirely."

Rodent Freikorps's picture

The information is out there, as can be seen from the chart.

They are as dirty as we -- the voters -- let them be.

The voters really have gotten what they deserve.

And the non-voters deserve it good and hard, as well.

tarsubil's picture

Vote accordingly? Who the hell are we supposed to vote for? Diarhea shake or crap sunday?

williambanzai7's picture

Populists and conspiracy nuts.

People who demand equal justice for Wall Streets intermediaries of fraud.

Fuck you Judd!

rocker's picture

+10 The problem is nobody on any media tells Americans the truth. Bloomberg is scratching at the surface but has found that they did not get all the data requested. Seems that they found more holes than truths on the bailouts.

NOTaREALmerican's picture

> The problem is nobody on any media tells Americans the truth.

I'm not sure they want it.

Wouldn't trashing the Banksters be classified as "class warfare" by about half the population? What MSM outlet needs that kinda grief. Much easier to just keep repeating the happy-talk.

Number 156's picture

Its an very obvious attempt at preserving the status quo by bending laws, however, these geniuses and great wizards of finance forget that the math is unbendable. They will run the economy off the rails not just in the US, but everywhere.

What happens when all economies collapse under their burden? Will they protect themselves behind high walls and cantina wire, hire armed guards and live off of stockpiles of food? Eventually, even the armed guards get hungry, and they know where to find the food.

NOTaREALmerican's picture

> Will they protect themselves behind high walls and cantina wire, hire armed guards and live off of stockpiles of food? Eventually, even the armed guards get hungry, and they know where to find the food.

 

It takes generations tho.   Lots of 2nd world places have their nobility protected by armed guards 24x7.   If YOU had a chance to loot a few billion and retire to a nice Italian villa - and a nice yacht, private jet, (oh and a few other villas spread around the world) would you do it?  I would.  

cossack55's picture

OK, admit it, who here is surprised.

Fred C Dobbs's picture

My first thought from his list of contributors was how cheaply he could be bought, a real ten dollar whore.  But then I thought he and his friends must have gotten some great info from the sell side analysts not to mention what the big squids gave him.  So it looks like the whore from the great state of New Hampshire got a great deal servicing Goldman Sachs.  And I'm sure the Squid is feeling satisfied too.  It's only the rest of humanity that were harmed. 

tarsubil's picture

This is just the tip of the ice berg. Jon Corzine made 500 mil and then went to the Senate where he had the option to make some real money.

WhiskeyTangoFoxtrot's picture

Couldn't comment on your blog, but I'm in the exact same boat. Even got conned into voting for Obama (actually against McCain), naively thinking maybe things would change for the better. Instead, they've gotten much worse, which I didn't think was possible after Bush. In any case, I think there are two critical factors in getting revolution to take hold: (1)effectively organizing and (2) reaching a critical mass of people willing to take action so people don't back down because they think they're the only ones risking their necks. So what's next?

russwinter's picture

There will be a defining moment just like Plaza del Sol in Madrid. Just be sure to show up with your pitchfork. 

NOTaREALmerican's picture

> There will be a defining moment just like Plaza del Sol in Madrid. Just be sure to show up with your pitchfork.

Until you see some signs of anger at "the rich" then you know there's no chance of a revolution.   WAY too many peasants driving around in their Benzes and Beemers here in the Sac metro area (yeah,  the epicenter of the housing collapse) for them to be pissed-off at "the rich" yet.   Most of them are still pissed-off at "those people".  

JW n FL's picture

"those people" didnt get a penny of the $15 - $16 Trillion Dollars! but NBC doesnt want those fact getting out!

 

http://goo.gl/FnxBZ  Treasury Direct $14 Trillion Debt / http://goo.gl/TMl74   $15 Trillion in Loans / http://goo.gl/EXzal  / ='s $29T

 

and.. here's an oldy from here.. but its true!

 

http://vimeo.com/6475921 Control in Modern Times! Easier to Kill a Million People than Control a Million People in these modern politically awaken times. Revolution will come, will you be a spectator or will you help change your own future.. your children’s future, for the better?

Urban Redneck's picture

NOTE: All the numbers on this page are for the 1992 - 2010 election cycles and based on Federal Election Commission data available electronically on Monday, April 25, 2011.

Is it just me or is Judd Gregg a extremely cheap whore with a low asking price for selling out US citizens who elected him?  Hope he feels like the cheap unloved whore he is, with the amounts of GS $ he now gives/feeds to his former pig trough coworkers' campaigns. 

onlooker's picture

“””Nothing short of a revolution has any chance of changing an embedded regime whose status quo demands, in plain view of the "law",  the routine rape of the middle class to the benefit of the uber-wealthy"

 SoOOOO. Super Bowl Weekend after the game, my guys on the West Coast and your guys on the East Coast will revolt and take over the Hamptons and Newport Beach. They got the most pretty women in the world and all the money. They got expensive cigars and the best brandy. We invite Obama and the Navy. Yes we can. Gonna get them UBER wealthy.

Or, we can try to force elections to get serious and address the real issues of this Nation. Americans can close the left/right schism and force election change. Force change in how $$$ power like GE runs America.

There is no option but to force change with honest leadership.

SilverIsKing's picture

This comes as no surprise. When he defended the FED's secrecy, it became obvious what his MO was. This is just confirmation of what was previously known.

iwanttoholdu's picture

"well done my good and faithful servant" - note on his Goldman desk day #1

MarketFox's picture

You know....

 

There IS a word for this.....

 

FASCISM