ANTIESTABLISHMENTARIAN

Finance, Fuel Prices, Economics, Markets

How Our Economy Works

This is how the “recovery” is engineered,

Oct. 14 (Bloomberg) — Some of Treasury Secretary Timothy Geithner’s closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms, according to financial disclosure forms.

The advisers 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.

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.

The way to get ahead in this nation is to go to Washington with buckets of cash and buy whatever you need to ensure success. The rest of you can go pound salt. The place to be is in banking where success is guaranteed by the power of the U.S. government at all costs. If you don’t like the numbers, just change them and all will be well. Remember that at tax time.

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October 14, 2009 - Posted by | Blowing Steam

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