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Top Goldman Lobbyist Barred From Communicating With House's Financial Services Committee

Tyler Durden's picture





 

In a rare example of testicular fortitude, Barney Frank has "banished" Goldman's Michael Pease from communicating with the U.S. House of
Representatives Financial Services Committee. According to Reuters, the Goldmanite, and former committee staffer, has been "asked" not to interfere with the Congressional panel for a period of 12 months. According to Barney Frank aide Steven Adamske:

"Mr. Paese left our offices in September 2008, and was not
allowed to communicate with any committee members or staff for
a period of one year due to normal ethics restrictions that
apply to all House and Senate employees. Out of an abundance of caution due to the nature of
financial regulation reform, the chairman has extended Mr.
Paese's recusal for another year."

For those curious just what the background of this one particular tentacle of Goldman's nefarious plan for global domination is, Mr. Pease "was the committee's deputy staff director before
he quit to work for the Securities Industry and Financial
Markets Association as a lobbyist. Goldman hired him in April."

And just in case there is any confusion where Washington's allegiances usually lie, the Center for Responsive Politics disclosed that "since 1989, [Goldman's] employees, their family members and political action committees
have donated $31.2 million to U.S. political candidates --
topping all other banks and financial firms."

While one applauds Mr. Frank's effort to at least provide the perception that Goldman is not manipulating the ongoing financial regulation reform effort, his anti-Wall Street ego would be better placated if Mr. Frank, as previously announced, focuses his efforts on Fed transparency initiatives. Unfortunately, any actions that do not comport with his disclosed goal of ending the Fed's covert ops, will be mostly perceived as hypocritical pandering to those that Barney is seemingly starting to finally oppose.

 


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Wed, 09/16/2009 - 18:22 | Link to Comment BabaJ
BabaJ's picture

More competition is needed to at least increase the cost of political lobbying. Trillions for 30 million? Thats one hellofa ROI.

Wed, 09/16/2009 - 18:31 | Link to Comment JohnKing
JohnKing's picture

It's called "We the people". We need to outspend the banksters.

Wed, 09/16/2009 - 19:04 | Link to Comment SWRichmond
SWRichmond's picture

Someone on Capitol Hill is beginning to get some kind of message.  More pressure, worker drones!

Wed, 09/16/2009 - 21:02 | Link to Comment Anonymous
Wed, 09/16/2009 - 21:48 | Link to Comment ZerOhead
ZerOhead's picture

Very well said.

Wed, 09/16/2009 - 22:20 | Link to Comment Mr. Anonymous
Mr. Anonymous's picture

"There is only taking, stripping, stealing, organized theft, and survival of the fittest."

You left out 'rape'.

Thu, 09/17/2009 - 07:22 | Link to Comment SWRichmond
SWRichmond's picture

There is self interest, and then there is enlightened self interest.  There is civil society, and then there is society at the point of a rifle.  It's important to make a clear distinction.  All self interest is not evil by definition.

Thu, 09/17/2009 - 07:34 | Link to Comment ToNYC
ToNYC's picture

what we have here is the best democracy money can buy..best bid gets hit by easy whores...the U.S. Open hosted by GS, the official gatekeeper and security consultant.

Wed, 09/16/2009 - 18:26 | Link to Comment Anonymous
Wed, 09/16/2009 - 20:42 | Link to Comment Howard_Beale
Howard_Beale's picture

Castrate Cramer -- new bumper sticker. Asshole only talks the book of his hedge buddies. Another great time to remind anyone new here about www.deepcapture.com and the story of Dendrion and Cramers role in it. 

Wed, 09/16/2009 - 18:32 | Link to Comment lizzy36
lizzy36's picture

say it ain't so...hypocritical pandering from a politician?

shocked.

Wed, 09/16/2009 - 22:22 | Link to Comment Mr. Anonymous
Mr. Anonymous's picture

Precisely.  Kabuki theatre in a pink kimono.

Wed, 09/16/2009 - 18:33 | Link to Comment phaesed
phaesed's picture

Jesus! Is Cramer making his daily show based on what's reported on yesterdays Zero Hedge?

Wed, 09/16/2009 - 18:41 | Link to Comment lizzy36
lizzy36's picture

imho, mad money and ZH are mutually exclusive products. 

any crossover is/was unintended and should not be construed as an endorsement in any way shape or form of said cable entertainment program.

Fri, 09/18/2009 - 15:04 | Link to Comment Anonymous
Wed, 09/16/2009 - 18:34 | Link to Comment clotario
clotario's picture

Whoa. We need some more of this action.

Thu, 09/17/2009 - 00:58 | Link to Comment molecool
molecool's picture

Hey, I'm still waiting for my damn pizza - what gives?

Wed, 09/16/2009 - 18:35 | Link to Comment Careless Whisper
Careless Whisper's picture

"In a rare example of testicular fortitude..." no, it's a common example of political dog & pony show.

 

Wed, 09/16/2009 - 22:24 | Link to Comment Mr. Anonymous
Mr. Anonymous's picture

I think Tyler's either overworked or now working for Goldman. 

Wed, 09/16/2009 - 18:39 | Link to Comment Cursive
Cursive's picture

Pease prob rejected Frank's overtures.  Now if it had been Steve Gobie...

Wed, 09/16/2009 - 19:14 | Link to Comment E Thomas St.
E Thomas St.'s picture

Frank doesn't make overtures, he sits back and lets them throw themselves at him. It's how the prostitutes in Mass work;

"Eh, I've seen bettah johns, yah wastin mah time heeya."

Wed, 09/16/2009 - 19:41 | Link to Comment Anonymous
Wed, 09/16/2009 - 21:57 | Link to Comment agrotera
agrotera's picture

No, all parties involved got preprogrammed prepaid cell phones prior to the notice, just to be on the safe side....the privately held federal reserve's baby will not be refused!

Wed, 09/16/2009 - 21:41 | Link to Comment long-shorty
long-shorty's picture

has anyone else ever noticed that nearly every time a woman or gay man is mentioned on this board, many comments try to demean them in a sexual manner?

it's like, "Hey I lost a lot of money in the crash and missed out on this rally, but at least I'm a straight white protestant man, not like those c*nts and fags."

If you have to resort to that to feel good about yourself...

 

Wed, 09/16/2009 - 22:05 | Link to Comment E pluribus unum
E pluribus unum's picture

That's because this is ZH. It's all trash talk. These guys have been calling for a crash since March 30th.

Wed, 09/16/2009 - 22:16 | Link to Comment DrPsycho
DrPsycho's picture

"every time a woman or gay man is mentioned on this board, many comments try to demean them in a sexual manner?"

 

ur right, every time .......+1000

Wed, 09/16/2009 - 18:38 | Link to Comment Anonymous
Wed, 09/16/2009 - 18:39 | Link to Comment Anonymous
Wed, 09/16/2009 - 20:16 | Link to Comment deadhead
deadhead's picture

i'm not td and am no expert on all the bid/ask ploys, but spy topped the list on the daily wsj selling on strength chart.  i check that everyday and frankly, it rarely gives me any insight, but the amount sold off was heavy.  in case your not familiar with it, it's at wsj, click on "markets", click on "market data", cursor over "us stocks" and look for selling on strength.

Wed, 09/16/2009 - 20:44 | Link to Comment Howard_Beale
Howard_Beale's picture

Thanks for that info DH--wasn't familiar with it.

Wed, 09/16/2009 - 18:40 | Link to Comment buzzsaw99
buzzsaw99's picture

One tenacle rebuffed, fourteen more up Frank's ass.

Wed, 09/16/2009 - 18:40 | Link to Comment Anonymous
Wed, 09/16/2009 - 18:44 | Link to Comment Anonymous
Wed, 09/16/2009 - 20:31 | Link to Comment Marley
Marley's picture

Long been my belief that if "corporations are legally entitled to be considered "Persons" within the law," that when exhibiting psychopathic traits, incarcerated and commited to capital punishment as well.

Wed, 09/16/2009 - 18:50 | Link to Comment Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Yes, pretty please. for sake of appearances, don't hang out with us. You can still call us at home and walk our dog, babysit the kid for political favors instead....

 

Those 2 million plus must have scared poor Barney, the douchebag.

Wed, 09/16/2009 - 18:52 | Link to Comment arnoldsimage
arnoldsimage's picture

why do you have an add for ge on your site?

Wed, 09/16/2009 - 18:58 | Link to Comment Big Al
Big Al's picture

Because they bring good things to life????

Wed, 09/16/2009 - 18:57 | Link to Comment Silver Bullet
Silver Bullet's picture

Good God. How far did this guy cross the line to actually get banned?

Wed, 09/16/2009 - 19:10 | Link to Comment E Thomas St.
E Thomas St.'s picture

He wanted to top Barney.

Wed, 09/16/2009 - 19:15 | Link to Comment Howard_Beale
Howard_Beale's picture

All he had to do was walk in the door. Frank isn't a complete idiot and knew he would be called out if Paese had been allowed to get near the committee--too many people are watching--and not just Huffington. Personally, IMO, I think anyone who goes to the street should be banned from lobbying for 10 years. I also think SOMEONE in Washington needs to address the issue that Goldman is still a bank holding company and getting free money. They no longer need the status, nor does Morgan Stanley. If they aren't going to take deposits, get em off the dole. Grrrrrr.

Wed, 09/16/2009 - 19:27 | Link to Comment Crab Cake
Crab Cake's picture

That's not what he meant by top, I don't believe...

Wed, 09/16/2009 - 20:19 | Link to Comment deadhead
deadhead's picture

"I also think SOMEONE in Washington needs to address the issue that Goldman is still a bank holding company and getting free money. They no longer need the status, nor does Morgan Stanley. If they aren't going to take deposits, get em off the dole. Grrrrrr."

Yes, yes, yes.  absolutely correct.  and why does GS still have ~ 28 billion in fdic backstopped bonds out there?  that really fucking pisses me off. 

Wed, 09/16/2009 - 20:29 | Link to Comment Howard_Beale
Howard_Beale's picture

Makes my blood boil DH!

Wed, 09/16/2009 - 22:04 | Link to Comment agrotera
agrotera's picture

me too, but there is so much more...

Wed, 09/16/2009 - 19:09 | Link to Comment Anonymous
Wed, 09/16/2009 - 19:09 | Link to Comment Anonymous
Wed, 09/16/2009 - 20:32 | Link to Comment reading
reading's picture

Make sure you click on it...GE should definitely spend their ad dollars here.

Wed, 09/16/2009 - 19:10 | Link to Comment Miles Kendig
Miles Kendig's picture

Staffer to staffer is the mix that guides.

Wed, 09/16/2009 - 19:14 | Link to Comment leathaface
leathaface's picture

Does anyone actually see this making a difference at all?

Wed, 09/16/2009 - 19:16 | Link to Comment Howard_Beale
Howard_Beale's picture

No. Squid gets what squid wants.

Wed, 09/16/2009 - 20:25 | Link to Comment Hephasteus
Hephasteus's picture

Ya it'll make the eventual screw off and stay screwed off that much deeper and more lasting.

Wed, 09/16/2009 - 19:20 | Link to Comment Dr Hackenbush
Dr Hackenbush's picture

curious. what caused SPY to whipsaw in AH's (a few minutes ago)?

Wed, 09/16/2009 - 19:20 | Link to Comment percolator
percolator's picture

Its just a lover spat, I'm sure they'll kiss and make up.

Wed, 09/16/2009 - 19:28 | Link to Comment Jim_Rockford
Jim_Rockford's picture

Barney's committee deputy staff director becomes one of Goldman's top lobbyist, and meanwhile, back at the ranch, Geithner's new chief of staff is a former Goldman Sachs top lobbyist.

Dizzy yet?

Wed, 09/16/2009 - 20:15 | Link to Comment Howard_Beale
Howard_Beale's picture

Have we also forgotten that the Fed hired a former Enron lobbyist to be their lobbyist? JFC, I hope Ron Paul get's it done.

Wed, 09/16/2009 - 21:17 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Got to keep a close eye on Timmah. He's a weak link.  Like that guy MacDonald they had to shoot in the head over the weekend. Anymore on that story about Rockefeller's head honcho? He blew his mind out in a car....

Wed, 09/16/2009 - 21:58 | Link to Comment ZerOhead
ZerOhead's picture

Apparently... he hadn't noticed that the lights had changed.

Must have been in some deep caca.

Wed, 09/16/2009 - 22:27 | Link to Comment Busy-Body
Busy-Body's picture

 

ah, ah.....ah, ah - A Day In The Life.

Wed, 09/16/2009 - 19:54 | Link to Comment Anonymous
Wed, 09/16/2009 - 21:31 | Link to Comment Careless Whisper
Careless Whisper's picture

Don't forget about the free police brigade they are demanding for their new 200 West Street headquarters.

http://www.nypost.com/p/news/local/manhattan/city_to_unsafe_sachs_pay_for_protection_o7lBRDNpPO5uA5SBQuPYLO

 

Wed, 09/16/2009 - 22:41 | Link to Comment Mr. Anonymous
Mr. Anonymous's picture
Here are Scotland's terms: Lower your flags and march straight back to England, stopping at every home you pass by to beg forgiveness for 100 years of theft, rape, and murder. Do that, and your men shall live. Do it not, and everyone of you will die today.
  --- William Wallace, BRAVEHEART
Wed, 09/16/2009 - 23:02 | Link to Comment agrotera
agrotera's picture

Wow Mr. Anonymous, thank you for the wonderful quote!!!!!!!!!!!!!!

--could you please post this repeatedly for a few weeks or months to remind everyone of the healing quality and purity of truth, and justice? 

Thu, 09/17/2009 - 07:44 | Link to Comment ToNYC
ToNYC's picture

The new William Wallace  is practicing guerilla warfare these days. I saw him in the mountains.

Wed, 09/16/2009 - 20:13 | Link to Comment glenlloyd
glenlloyd's picture

Regardless as to what this might look like, the reality is that it was probably in the best interest of Mr. Frank to ban this lobbyist for a year, otherwise I can't imagine why he would have ever done it. I mean really, if there's nothing in it for Frank then why bother? There had to be some other underlying motivation for it.

Wed, 09/16/2009 - 20:28 | Link to Comment Howard_Beale
Howard_Beale's picture

Loud noisy people like Huff Post for one. Drudge for another. This has nothing to do with re-election IMO--it has to do with public outrage. Say what you will about Michael Moore but he is going to stir the pot even further with anti-squid sentiment. Matt Taibbi got it started for mass publication, Elizabeth Warren has her eyes wide open and she is no dummy, and I might add much of the world wants an answer to why they were made whole by AIG. Hank called Lloyd without waiver before his application for the waiver was applied for many times from the TSY office. Goldman has 98 out 100 monster trading days. The list goes on and this is not going to go away.

Wed, 09/16/2009 - 21:04 | Link to Comment Anonymous
Wed, 09/16/2009 - 23:51 | Link to Comment glenlloyd
glenlloyd's picture

"...their heads will line the pikes of the new empire for uncounted miles."

Now that's something I want pictures of, even better, movies!

Wed, 09/16/2009 - 20:54 | Link to Comment Anonymous
Wed, 09/16/2009 - 21:00 | Link to Comment Sqworl
Sqworl's picture

OMG...Im having an Giant Acorn moment.

Wed, 09/16/2009 - 21:19 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Grilled squid on pikes is fantastic.

Wed, 09/16/2009 - 23:23 | Link to Comment Mr. Anonymous
Mr. Anonymous's picture

Little garlic'll knock that fishy taste right out.  Squid Benedict-Blankfein with bernaise is especially good.

Wed, 09/16/2009 - 21:48 | Link to Comment Anonymous
Wed, 09/16/2009 - 22:14 | Link to Comment mrhonkytonk1948
mrhonkytonk1948's picture

Is this corruption and cronyism really any worse than it has been, historically, or are we just more aware because of the net?  Feels worse, but that could simply be the daily information beating we take.  Speaking of the 30 mil, it always amazed me when I lived in Louisiana how relatively little it took in bribes for a given payoff.  Observed from a distance, of course. 

Wed, 09/16/2009 - 23:53 | Link to Comment glenlloyd
glenlloyd's picture

I'm sure it's a little of each, 1) we're much more aware of it and 2) it's probably bigger now because things are falling apart, arms are flailing about, citizens are mad etc.

Wed, 09/16/2009 - 23:04 | Link to Comment Anonymous
Thu, 09/17/2009 - 03:53 | Link to Comment Anonymous
Fri, 09/18/2009 - 15:09 | Link to Comment Anonymous
Do NOT follow this link or you will be banned from the site!