On Oct 15, 6:58 am,
grey_ghost471-newsgro...@yahoo.com (Gray Ghost)
wrote:
> Umm, conflict of interest anyone?
>
> Remember the good old days when rotten conservatives got rich by actually
> providing products or services people wanted to buy. Now just get into a
> crooked administration and act on insider information. The calim the people
> that catch you are racists.
>
> The structure is to infested to fumigate. Burn it down and start over.
>
>
http://www.ft.com/cms/s/0/f012c4b2-b8f6-11de-98ee-00144feab49a.html>
> Financial Times FT.com
> Geithner aides made millions on Wall Street
>
> By Tom Braithwaite in Washington
>
> Published: October 14 2009 20:49 | Last updated: October 14 2009 20:49
>
> Obama administration officials now working on fixing and regulating the
> financial system were beneficiaries of several million dollars in pay from
> Wall Street and private equity companies, it has been revealed.
>
> Financial disclosure forms show that prior to joining the government, Gene
> Sperling, a senior Treasury adviser, was paid $887,727 by Goldman Sachs and
> $158,000 for speeches to companies that included Stanford Group, the company
> run by Sir Allen Stanford, who has since been charged with fraud.
>
> Mr Sperling’s compensation from Goldman was for work on a philanthropic
> project. His overall pay, including for his main job at the Council on
> Foreign Relations, totalled $2.2m in the 13 months to January.
>
> The forms, which were first obtained by Bloomberg, showed that Matthew
> Kabaker, another adviser in the Treasury, earned $5.8m at Blackstone, the
> private equity firm, in the two years before joining the administration to
> work on plans to support banks and spur lending. Much of the compensation was
> in stock.
>
> Lewis Alexander, another adviser, was chief economist to Citigroup before
> joining the administration; he was paid $2.4m in the last two years.
>
> Even though some of the officials whose previous salaries were disclosed are
> senior, many were appointed as “counselors”, meaning they escaped Senate
> confirmation hearings which could have highlighted their past remuneration
> and employment at a time of heightened animosity towards the financial
> industry.
>
> Earlier this month the release of the telephone call logs of Tim Geithner,
> Treasury secretary, showed he had numerous conversations with a number of
> Wall Street executives, sparking allegations that the administration was too
> close to the industry.
>
> Officials argued then and on Wednesday that it was important to have skilled
> people working for the government as it crafted complicated financial rescues
> and for Mr Geithner to communicate with financial sector executives. Mr
> Geithner, the former president of the Federal Reserve Bank of New York, has
> never worked on Wall Street.
>
> Mr Obama, however, has hit out at the culture that he said prevailed before
> last year’s financial crisis – at a time when many of the Treasury officials
> were working on Wall Street and related businesses.
>
> “We will not go back to the days of reckless behaviour and unchecked excess
> that was at the heart of this crisis, where too many were motivated only by
> the appetite for quick kills and bloated bonuses,” he said at a speech in New
> York last month.
>
> Previous releases of disclosure forms revealed the $5.2m paid to Lawrence
> Summers, chief economic adviser to the White House, by DE Shaw, the hedge
> fund, in the two years before he joined the administration.
>
> The disclosures come during a complicated time for the relationship between
> the Obama administration and business, with officials accused of being too
> close to companies on the one hand and encountering increased criticism from
> business lobby groups on the other.
>
> The US Chamber of Commerce on Wednesday launched its “campaign for free
> enterprise”, arguing the private sector was under threat from various over-
> reaching government plans, including for a Consumer Financial Protection
> Agency and a cap-and-trade scheme to reduce carbon emissions.
>
> Copyright The Financial Times Limited 2009. Print a single copy of this
> article for personal use. Contact us if you wish to print more to distribute
> to others.
>
> "FT" and "Financial Times" are trademarks of the Financial Times. Privacy
> policy | Terms
> © Copyright The Financial Times Ltd 2009.
Break their grubbing balls! (America needs a total rebuild, but first
it
decay a tad more.
tt
http://www.vdare.com/ V-Dare