How Messed Up Is Wall Street?

I’ve been learning a lot more about how close of a tie the government and the banks have, especially Goldman Sachs.  Goldmansachs666.com posted some of the big ex-Goldman names today.  Mike Morgan also swore that a more comprehensive list will blow people away (still in the works).

Robert Rubin – Former United States Treasury Secretary, ex-Chairman of Citigroup.

Henry Paulson – Former United States Treasury Secretary.

Edward Lampert- Brought K-Mart out of Bankruptcy in 2003.

Joshua Bolten – former White House Chief of Staff

Erin Burnett – CNBC Host

Jon Corzine – Governor of the State of New Jersey.

Michael Cohrs – Head of Global Banking at Deutsche Bank

Jim “The Mouth” Cramer – In Cramer We Trust – Mad Money on CNBC – Ultimate Jackass

Abby Joseph Cohen – Perma-bull market forecaster formerly of Drexel Burnham Lambert

George Herbert Walker IV – member of the Bush family and current managing director at Neuberger Berman

Robert Zoellick – United States Trade Representative (2001-2005), Deputy Secretary of State (2005-2006), World Bank President.

Mark Carney – Current Governor of the Bank of Canada

Michael D. Fascitelli- President & Trustee of Vornado Realty Trust.

Neel Kashkari – Assistant Secretary of the Treasury for Financial Stability

Malcolm Turnbull – Australian politician, currently the federal leader of the Liberal Party of Australia.

John Thain – former Chairman and CEO, Merrill Lynch, and former chairman of the NYSE.

Robert Steel – Chairman and President, Wachovia – Now with the boys and girls at Wells Fargo

Romano Prodi, Prime Minister of Italy twice (1996-1998 and 2006-2008) and President of the European Commission (1999-2004)

Mario Draghi, governor of the Bank of Italy (2006- )

Massimo Tononi, Italian deputy treasury chief (2006-2008)

I’ve actually joined his posting group, which is going to be pretty fun looking up Goldman related articles and posting them on the site.  It’s only going to help me learn more about the truth about Wall Street while contributing something for all of us.  Shit I’m totally convinced that the government and Wall Street are both so corrupted, you just can’t trust them.   In the current state of chaos, I sometimes get too concerned about holding anything over-night…you just don’t know how much manipulation there is out in Wall Street.  Trust me they got some major ties everywhere.

Goldman Sachs conspiracy written by Matthew Malone is an interesting one too.  He links Goldman to many of the facts related with bank headlines in the past year:

• Rumored that Goldman’s London unit tried to drive Bear Stern’s stock down to take down its rival who refused to join the bailout of Long-Term Capital Management.
• Ex-CEO of Merrill, John Thain, was a frequent adviser to Tim Geithner, who used to be the New York Fed president.  He also worked as Goldman’s co-president under Paulson.  So why did Merrill survive (Bank of America bought them) while Lehman was forced to go bankrupt and sell its assets for pennies?
• AIG’s new CEO is ex-Goldman – Ed Liddy.  Hmm.  More Goldman taking over Wall Street.
• Goldman received $10 billion dollars from the government 3 weeks after the Lehman fall.  Lehman was asking for $6 billion to survive, yet refused and went into bankrupcy.
• Lehman didn’t become a bank holding company before its fall even though Goldman quickly beccame one.
• Short-selling Ban…that was pretty ridiculous. Funny how it got banned when the short-sellers turned their attention toward Goldman.
• Last but not least…the government is filled with Goldman related pawns.  Geithner’s certainly one of them.

Honestly, how truly messed up is wall street???  Wall Street is just corrupted, probably beyond a belief of an average ice cream guy like me.