October 15, 2009
Disclosure forms, according to Bloomberg, reveal that Treasury Secretary Timothy Geithner’s closest aides received millions of dollars from Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms.
Gene Sperling (left) confers with fellow master criminals, including Timothy Geithner and Larry Summers. The henchmen include Gene Sperling, who last year took in $887,727 from Goldman Sachs and $158,000 for speeches mostly to financial companies, including the firm run by accused Ponzi scheme mastermind R. Allen Stanford. Another top aide, Lee Sachs, reported more than $3 million in salary and partnership income from Mariner Investment Group, a New York hedge fund, reports Bloomberg.
In addition to working for Goldman Sachs, Sperling is on the staff of the Council on Foreign Relations, where he serves as Senior Fellow for Economic Policy and Director of the Center on Universal Education. He is also an economic adviser for Hillary Clinton.
Sperling worked in the Clinton administration as the President’s National Economic Adviser and Director of the National Economic Council. He was tutored by bankster master criminals Larry Summers and Robert Rubin. Clinton called him “the MVP” of his Wall Street economic team.
Lee Sachs is described as Geithner’s “right-hand man handling the financial crisis.” He was on the board of directors of Bear Stearns. In 1998, he joined the Clinton administration in Rubin’s Treasury as deputy assistant secretary for government financial policy. Less than a year after getting the post, Lawrence Summers replaced Rubin as secretary and Sachs got a promotion to assistant secretary for financial markets.
“As part of Geithner’s kitchen cabinet, Sperling and Sachs wield influence behind the scenes at the Treasury Department, where they help oversee the $700 billion banking rescue and craft executive pay rules and the revamp of financial regulations,” Bloomberg continues. “Yet they haven’t faced the public scrutiny given to Senate-confirmed appointees, nor are they compelled to testify in Congress to defend or explain the Treasury’s policies.”
Goldman Sachs is at the very epicenter of the international bankster cartel on Wall Street along with Brown Brothers, Harriman, Lehman Brothers, Kuhn Loeb, Inc. J.P. Morgan, Chase and a handful of others. It is one of around a dozen or so global institutions that are allowed to purchase Bills, Bonds and Notes directly from the Treasury. It is among the top five investment banks in the world.
Goldman Sachs received billions of dollars – to be paid off by future generations of Americans – for its highly speculative credit default swaps. It was the largest single recipient of tax payer money in AIG bailout. The government had forked over $180 billion to AIG as of April of this year. The New York State Attorney General Andrew Cuomo announced in March that he was investigating whether AIG’s trading counterparties improperly received government money.
The presence of Gene Sperling and Lee Sachs in the Treasury is to say the least a conflict of interest. But then Timothy Geithner is a former chairman of the Federal Reserve Bank in New York and his predecessor, Hank Paulson, was the head of Goldman Sachs.
Goldman Sachs, the Federal Reserve, and the Treasury are basically one in the same. In July, former Reagan Treasury official