Political Clout

Corruption in politics is a given. Its just more organised in the western world.. consider this

The sad truth is there is enough data on the government rescue efforts to indicate decisively that OppenheimerFund would have received a much better deal if it was politically well- connected. It’s an especially good idea to have connections in both parties.

For comparison’s sake, consider the treatment of Goldman Sachs Group Inc.

When American International Group Inc. crumbled, threatening Goldman Sachs with huge losses, the government stepped in and made the firm whole. It funneled a whopping $12.9 billion to Goldman Sachs through the AIG bail-out.

Part of Club

Might the government have been so generous because Henry Paulson, Treasury secretary under President George W. Bush, and Robert Rubin, an Obama adviser, are both former Goldman Sachs men?

the circumstances uder which Lehman Brothers were allowed to fail but Goldman Sacs and AIG are just too BIG to fail is very questionable and funny.

The other funny thing is the way the secured bond holders are being potrayed as devils incarnate.. 😀 they are investing hard earned money which the govt wants to donate for public casues.. ummm isnt that socialism.. 😀

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One Response to “Political Clout”

  1. machi.AMAZING coincidence. i was thinking of the same just now after reading that Obama might prefer UAW’s interests than bondholders. hmm. should read more about bondholders. dont know how exactly their investments work out but i knew it wasn’t money grown on trees either.

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