December 4, 2012. Washington. At best, it’s considered a revolving door for powerful individuals between Wall Street and the White House. At worst, it’s an economic coup that has been successful in infiltrating and subverting the United States federal government. What is it? The multi-national global banking syndicate known as Goldman Sachs. And more and more, its employees and the federal government’s employees are becoming one and the same.
In this Raymond Balze painting from the 1850's, Jesus chistises the 'money changers' in the Temple, and by doing so, a major tenent in the Christian faith is born.
Goldman Sachs and the White House
The following list was compiled by Nachumlist.com and published in May 2012. With a new Obama administration taking control after the first of the year, the below names will change somewhat. Many of the current White House staff and paid advisers will go back to their Wall Street firms, such as Goldman Sachs. While new Wall Street power players, many of the same individuals from previous Presidential administrations, will take their place.
What follows is a list of Goldman Sachs employees and paid agents who have moved over to positions in the Barack Obama White House. The second list below includes many additional Goldman Sachs employees who were hired by the Bush administration and were hold-overs into President Obama’s first term. The third and final list reflects the Goldman Sachs individuals who have moved on to positions at other global or foreign governments and institutions.
The Money Lenders
As we can see, and federal and state election disclosures confirm, Goldman Sachs has little or no loyalty to either the Republicans or the Democrats. The global bank is a major partner in administrations from both parties, contributes to both parties, and some would argue, controls both parties. This battle between the citizens of a country against the self-serving power and influence of the global banking cartel is not new. In fact, it’s been going on since Biblical times when Christianity banned ‘usury’ – the charging of interest on loans or debts.
For a detailed and historical recap, read the Whiteout Press Special Report, ‘The Illuminati’.
The following two historical quotes sum up the eternal struggle that still goes on today:
“Let me issue and control a nation’s money and I care not who writes the laws.” – Mayer Amschel Rothschild, 1790.
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” – James Madison, 4th President of the United States.
Showing that this eternal struggle - between those cursed with a sickness of unquenchable greed versus those they prey upon – is alive and well even today, the following list presents many of today’s individuals who’ve left their multi-million dollar positions at Goldman Sachs to take a powerful and influential roll inside the White House.
Naming Names – The List
*Note: A number of the below names reference 'The Hamilton Project', a Brookings Institute owned political and policy think tank and advisory organization.
From Nachumlist.com (May, 2012), listed in alphabetical order:
Lael Brainard: Brainard is the United States Under Secretary of the Treasury for International Affairs in the administration of Obama.
Gregory Craig: Former White House Counsel, Recently hired by Goldman Sachs.
Thomas Donilon: Deputy National Security Adviser (despite having a career that is mostly involved with domestic politics). Donilon was a lawyer at O’Melveny and Myers and made almost $4 million representing meltdown clients including Penny Pritzker (of Chicago) and Goldman Sachs.
William C. Dudley: President and Chief Executive Officer of the Federal Reserve Bank of New York, partner and managing director at Goldman Sachs and was the firm’s chief U.S. economist for a decade.
Douglas Elmendorf: Obama Director of the Congressional Budget Office in January 2009, replaced Furman as Director of the Hamilton Project (Note that the Hamilton Project was funded by Robert Rubin and Goldman Sachs).
Rahm Emanuel: Obama Chief of Staff, on the payroll of Goldman Sachs receiving $3,000 per month from the firm to “introduce us to people", in the words of one Goldman Sachs partner at the time.
Dianna Farrell: Obama Administration: Deputy Director, National Economic Council. Former Goldman Sachs Title: Financial Analyst.
Stephen Friedman: Obama Administration: Chairman, President’s Foreign Intelligence Advisory Board. Former Goldman Sachs Title: Board Member (Chairman 1990-94; Director 2005).
Michael Frohman: Robert Rubin’s Chief of Staff while Rubin served as Secretary of the Treasury and an Obama “head hunter” according to “Rubin Proteges Change Their Tune as They Join Obama’s Team” in the New York Times.
Anne Fudge: Appointed to Obama budget deficit reduction committee. Fudge has been the PR craftsman for some of America’s largest corporations. She sits, according to the Washington Post, as a Trustee of the Brookings Institution within which the Hamilton Project is embedded.
Jason Furman: Directed economic policy for the Obama Presidential Campaign, served as the second Director of the Hamilton Project after Peter Orszag’s departure for the Obama administration.
Mark Gallogly: Sits on the Hamilton Project’s advisory council. He is also, according to Wikipedia, currently a member of President Obama’s Economic Recovery Advisory Board.
Timothy Geithner: Secretary of the Treasury, former President of the New York Fed. a former managing director of Goldman Sachs.
Gary Gensler: Obama Administration: Commissioner of the Commodity Futures Trading Commission. Former Goldman Sachs Title: Partner and Co-head of Finance.
Michael Greenstone: The 4th Director of the Hamilton Project. Just as attorney Craig went from advising Obama to defending Goldman Sachs against the SEC complaint, Greenstone has used the revolving door to go from an Obama economic adviser position to one of the Goldman Sachs outlets - in this case its think tank embedded in the Brookings Institution and funded by Goldman Sachs and Robert Rubin. All 3 previous Directors of the Hamilton Project work in the Obama administration.
Robert Hormats: Obama Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department. Former Goldman Sachs Title: Vice Chairman, Goldman Sachs Group.
Neel Kashkari: Served under Treasury Secretary Paulson (a former Goldman Sachs CEO) and was kept on by Obama after his inauguration for a limited period to work on TARP oversight. Former Vice President of Goldman Sachs in San Francisco where he led Goldman’s Information Technology Security Investment Banking practice.
Karen Kornbluh: (Sometimes called "Obama’s brain") Obama Ambassador to the OECD. Was Deputy Chief of Staff to 'Mr. Goldman Sachs', Robert Rubin.
Jacob "Jack" Lew: The United States Deputy Secretary of State for Management and Resources. According to Wikipedia, Lew sits on the Brookings-Rubin funded Hamilton Project Advisory Board. He also served with Robert Rubin in Bill Clinton’s cabinet as Director of OMB.
David Lipton: Now on Obama’s National Economic Council and the National Security Council. Lipton worked with Larry Summers and Timothy Geithner on the US response to the Asian financial crisis of the 1990’s. MergeFoundations reports that Lipton worked closely with Robert Rubin.
Emil Michael: White House Fellow. Former investment banker with Goldman Sachs.
Eric Mindich: Former chief strategy officer of New York-based Goldman Sachs, started Eton Park in 2004 with $3.5 billion, at the time one of the biggest hedge-fund launches ever. .....Hank Paulson Tipped Off The Goldman-Led "Plunge Protection Team" About Fannie Bankruptcy 7 Weeks In Advance (2007): Goldman operative Eric Mindich in the hierarchy of the Asset Managers' committee of the President's Working Group on Capital Markets, better known of course as the PPT (in 2009).
Philip Murphy: Obama Administration: Ambassador to Germany. Former Goldman Sachs Title: Head of Goldman Sachs, Frankfurt.
Barack Obama: Obama owes his career to Goldman Sachs which was not only his biggest financial contributor when he ran for the Presidency, but was also his biggest contributor when he ran for the US Senate.
Peter Orszag: Obama Budget Director. Founding director of the Hamilton Project, funded by Goldman Sachs and Robert Rubin. Wikipedia indicates that Robert Rubin, Goldman’s ex-CEO, was one of Orszag’s mentors.
Mark Patterson: Obama Administration: Chief of Staff to Treasury Secretary Timothy Geitner. Former Goldman Sachs Title: Lobbyist 2005-2008; Vice President for Government Relations.
Mark Peterson: Chief of staff to Timothy Geithner. Goldman Sachs Vice President and lobbyist.
Steve Ratner: The shady billionaire financier who Obama appointed as his “car czar” and who resigned after it was revealed that his company, the Quadrangle Group, was apparently involved in “pay to play” for a billion dollars or so of New York State pension funds, and was under possible indictment by the New York AG and the SEC. Sits on the Advisory Council of the Goldman funded Hamilton Project.
Robert Reischauer: A member of the Medicare Payment Advisory Commission from 2000-2009 and was its Vice Chair from 2001-2008. He too sits on the Hamilton Project’s advisory board.
Alice Rivlin: Obama named Alice Rivlin to his so-called Deficit Reduction Commission.
James Rubin: Son of Robert Rubin. Served as a 'headhunter' for Obama per the New York Times article, "Rubin Proteges Change Their Tune as They Join Obama’s Team".
Gene Sperling: Advisor to Timothy Geithner on bailouts. Sperling paid by Goldman Sachs for one year of consulting work.
Adam Storch: Obama Managing Executive of the Security and Exchange Commission’s Division of Enforcement. Former Vice President in the Goldman Sachs Business Intelligence Group.
Larry Summers: Obama chief economic adviser and head of the National Economic Counsel. Worked under Robert Rubin at Goldman Sachs.
John Thain: Obama Administration: Advisor to Treasury Secretary Timothy Geithner. Former Goldman Sachs Title: President and Chief Operating Officer (1999-2003).
Joshua Bolten: Bush II Administration: White House Chief of Staff (2006 – 2009). Former Goldman Sachs Title: Executive Director, Legal & Government Affairs (1994-1999).
William C Dudley: NY Federal Reserve: Current President/CEO. Former Goldman Sachs Title: Partner and Managing Director – 2007.
Edward C. Forst: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Co-head of Goldman’s investment management business.
Stephen Friedman: NY Federal Reserve: Former Chairman of the Board – 2009. Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director 2005-).
Gary Gensler: Bush II Administration: Undersecretary of the Treasury (1999-2001) and Assistant Secretary, Treasury (1997-1999). Former Goldman Sachs Title: Partner and Co-head of Finance.
Reuben Jeffery III: Bush II Administration: Under Secretary for Economic, Energy and Agricultural Affairs, State Department (2007–2009). Former Goldman Sachs Title: Managing Partner, Paris until 2002 Security Investment Banking Practice.
Dan Jester: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Deputy CFO.
Neel Kashkari: Bush II Administration: Assistant Secretary for Financial Stability, Treasury (2008 – 2009). Former Goldman Sachs Title: Vice President, Goldman Sachs San Francisco; led Information Technology Security Investment Banking Practice.
Eric Mindich: Former chief strategy officer of New York-based Goldman Sachs. Started Eton Park in 2004 with $3.5 billion.
Henry Paulson: Bush II Administration: Secretary of the Treasury 2006 - 2009. Former Goldman Sachs Title: Chairman and CEO (1998-2006).
Robert Rubin: Bush II Administration: Secretary of the Treasury 1995-1999. Former Goldman Sachs Title: Vice Chairman (1987-1990).
"The news shouldn't be left wing or right wing, conservative or liberal. It should be the news. It should be independent" - Mark Wachtler, Whiteout Press founder
Robert Steel: Bush II Administration: Under Secretary for Domestic Finance, Treasury (2006 – 2008). Former Goldman Sachs Title: Vice Chairman – 2004.
Steve Shafran: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs private equity business in Asia until 2000.
Kendrick R. Wilson III: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Chairman of Goldman’s financial institutions groups.
Robert Zoellick: Bush II Administration: United States Trade Representative (2001-2005), Deputy Secretary of State (2005-2006), World Bank President (2007 -). Former Goldman Sachs Title: Vice Chairman, International (2006-07).
Mark Carney: Current Title: Governor, Bank of Canada. Former Goldman Sachs Title: Managing Director Goldman Sachs Canada until 2003.
Mario Draghi: Current Title: Governor of the Bank of Italy (2006- ). Former Goldman Sachs Title: European Deputy Chairman/Partner until 2006.
Edward Liddy: Current Title: AIG CEO. Former Goldman Sachs Title: Board Member (Chairman 1990-94; Director 2005- ).
Duncan Niederauer: Current Title: Chair/CEO NYSE. Former Goldman Sachs Title: Managing Director – 2007.
Romano Prodi: Current Title: Prime Minister of Italy (1996-1998 and 2006-2008) and President of the European Commission (1999-2004). Former Goldman Sachs Title: Paid adviser/consultant 1990 – 1993.
Massimo Tononi: Current Title: Italian Deputy Treasury Chief (2006-2008). Former Goldman Sachs Title: Partner 2004 – 2006.
Malcolm Turnbull: Current Title: Federal Leader, Liberal Party of Australia. Former Goldman Sachs Title: Partner (1998-2001).
David Watson: Current Title: Monetary Policy Committee, Bank of England. Former Goldman Sachs Title: Chief European economist.
The above list of names and their descriptions is reprinted in its entirety from Nachumlist.com.