On Friday April 30th, the Washington Post reported on a criminal probe into Goldman Sachs by the Manhattan U. S. Attorneys office and a civil suit filed by the SEC against Goldman. Goldman Sachs is also the target in a Senate investigation into the financial crisis. The senate hearing examined “Goldman's role in the financial crisis. Goldman's bottom line could also suffer if the Senate, now debating reforms to financial regulation, adopts proposed changes to limit trading in derivatives and certain investment activities by banks, for instance owning hedge funds.”
It will be intriguing to watch how Mitt Romney will handle his close relationships with Golden Sachs executives in the coming months. And if Romney’s current attempts to down play his ties to Goldman Sachs, will accomplish Romney’s desire to deflect attention away from him, or if Mitt’s ties to Goldman will eventually lead to a Romney melt down.
On Wednesday, April 28, prior to the criminal probe of Goldman Sac’s hitting the press, Mitt Romney was in Grand Rapids, Michigan attending a fund raiser for backer and close friend Pete Hoekstra, Hoekstra wasted no time "disregarding the Senate hearings as nothing more than” political posturing”. Romney while in Grand Rapids, defended Wall Street stating: "And frankly, I don't believe in discriminating against anybody, regardless of the street they're from," he said. "You see, all the streets in America are connected, and scape-goating and demonizing individuals based on where they live or where they work is a big mistake."
The Detroit Free Press reported on the Senate hearing down played by Hoekstra:
“Carl Levin, D-Mich., the subcommittee chairman, said Monday: "I think they're misleading the country. ... There's no doubt they made huge money betting against the (mortgage) market. “Goldman "knew of Paulson's involvement in the selection" of securities, Levin told reporters. "They knew Paulson was going short."
Romney may find himself handling a political hot-potato due to his many ties to Wall Street. Romney attended a fund raiser thrown for him by John Paulson in Paulson’s Manhattan home. John Paulson is the President of Paulson & Co. Inc. and is tied to the Goldman Sachs debacle.
Romney concerned about “demonizing and scape-goating” Wall Street is no shocking surprise, of course, Goldman one of Wall Streets biggest players, had no problems setting out to discredit the SEC’s which filed civil suit against Sachs on April 16th. The SEC’s allegations against Goldman Sachs are as follows:
“The Securities and Exchange Commission this month filed a civil fraud case against Goldman, saying it misled investors about securities tied to home loans. The SEC says Goldman concocted mortgage investments without telling buyers they had been put together with help from a hedge fund client, Paulson & Co., which was betting on the investments to fail.”
Mitt Romney ties to Goldman Sachs doesn’t end with John Paulson. Muneer Satter a Goldman executive was a major bundler for Romney during his failed attempt in 2008. Satter pulling in “a total of $200, 000.00 from Goldman employees – the money is seen as an effort to position Romney in the 2012 run”. The money going into the PAC Romney started after ending his 2008 campaign”. Romney has pulled in another $22,000.00 dollars from Goldman Sachs. Not to mention, the additional moneys Romney received at the fund raiser recently thrown by John Paulson.
No wonder the DNC put out the recent ad on Romney’s and Wall Street-
Meg Whitman, Romney’s former Bain buddy served Goldman Sachs board, as reported on calaborfed.org:
“Meg Whitman got rich the Wall Street way – through scams, shady insider deals and mortgage-backed securities that resulted in countless Americans losing their homes and jobs.” “Back in 2001, when she served on the board of Goldman Sachs, Whitman was directly involved in the decisions about executive bonuses and mortgage-backed securities that are now cited as major causes of the economic meltdown.”
Romney’s and Whitman’s connections to Wall Street, as well as their unrivaled campaign spending, lead to a recent nurses protest in California against Romney and Whitman:
California nurses mock Romney and Whitman elitism –
References on comments section:
MICHIGAN MISCONDUCT......... A blog about misconduct and corruption in Michigan impacting Michigan's legal, judicial systems and the American political system
Showing posts with label Meg Whitman. Show all posts
Showing posts with label Meg Whitman. Show all posts
Monday, May 3, 2010
Thursday, March 25, 2010
Mitt Romney’s "power alley" — the economy and his business background.”
Glen Johnson article yesterday noted a “rare moment” for Mitt. Johnson is the journalist who, during Romney’s last presidential race, won broad applause when he challenged Romney.
Romney Caught in Lie by Glen Johnson
Johnson in his article wrote:
“Republican Mitt Romney, in a rare moment of reflection about his losing 2008 presidential campaign, said Wednesday he would have been better served by keeping the focus on his "power alley" — the economy and his business background.”
After giving serious reflection to Romney’s “power alley”, it was not difficult to conjure up Mitt’s business background, but it was a stretch to see where Romney has an economic background – but then maybe it is only me who is unaware of Mitt’s vast expertise in economics and the economy.
Reflecting on Romney’s business background -
Romney did well at Bain, amassing a fortune for himself and his Bain partners. Mitt Romney typically, purchased companies thorough leveraged buyouts, often at the peril of other people’s jobs and companies. Mitt would sell off companies, pocketing a large profit, or shut companies’ doors after mortgaging the business to the hilt.
On the human side, not to make Mitt Romney out as a complete Scrooge, Romney’s business experience threw Mitt into suffering internal conflict, putting Romney in the throws of moral dilemmas. Jonathan Darman and Lisa Miller in their article for Newsweek relate one of Romney's conflicts.
“Romney struggled internally. R-rated movies are frowned upon in the Mormon faith, but the deal looked good for Bain. Romney's solution: make the deal happen, but skip his usual practice of putting some of his own money into it as well.”
Alas! Mitt found a loophole around the issue of moral conscience and the greed making a dollar. Romney’s perspective, by not “putting his own money in” he made money for Bain, not for himself. But wait! Romney would have made money. Romney certainly drew a salary at both Bain and Bain Capital, or did Mitt through the wizardry of accounting; deduct the tainted profits from his pay-check?
According to David D. Kirkpatrick 2006 article: “Mitt Romney owes his nearly $350 million fortune and his political career to a delicate negotiation with his boss (at Bain) in the summer of 1983.”
As for Mitt Romney’s internal struggles, Romney had voted as a board member of Marriott Corp., to offer porn in the hotel chain. Marriott is Mormon and an early fore-runner in introducing porn into the hotel industry.
Mitt the business private equity man -
“The amounts of money are so vast that it is truly a matter of time before the taxation of private equity is front and center of the public agenda,” said James E. Post, a Boston University professor who teaches business-government relations. “Increasingly, this world of private equity looks like a world of robber barons, and Romney comes out of that world.”
Romney’s type of business background was causing some issues in Washington:
“In Washington, Congress is considering ending a legal quirk that lets fund managers escape much of the income tax on their earnings.”
Searching for Romney’s economic background came up with few examples, except for excessive campaign spending. Whitman, a former Bain partner, is not to be undone by Romney on pouring in dollars into her campaign in California. Meg and Romney must feel unbridled spending during campaigns strengthens the nations economy.
Romney believes in keeping money among friends and family. Romney’s former Bain buddy, Meg Whitman has received strong criticism for her over the top spending, during her Romney backed, run for Governor in California. Whitman is spending a reported, $358,439.00 a day, $14,935.00 an hour, $249.00 a minute as reported by Michael Rothfeld and Jack Dolan of the L.A. Times.
According to Dan Morain of the Sacramento Bee, Meg is enjoying –
“ACM Aviation, which boasts on its Web site that it "has been offering white-glove, on-demand, premium jet charter services for more then 28 years”, spending $371,125.00 for air travel."
Meg has also:
“… paid $96,000 last year to Solamere Capital, a Massachusetts-based firm who’s Web site says it "was founded to serve as a multifamily office focusing on superior private equity opportunities."
“Solamere's principals include Romney's son Tagg Romney and Spencer J. Zwick, who was prominent in Mitt Romney's presidential campaign. Zwick is her finance chair; she has paid his firm, SJZ Inc., $842,000.”
What the article failed to mention, Meg’s son Griff's listed in his LinkenIn profile the private equity firm of Solamere. Clink on the reference link ‘gawker.com below, for a read on Meg’s sons. It is not understood what Solamere has done for the Whitman campaign.
The only economic experience Romney appears to have is improving his families and former Bain partners’ lavish life-style, and an attempt at political control.
References:
http://www.google.com/hostednews/ap/article/ALeqM5hvWSdl8-sh9izAmBN1Z8vtDUQGfgD9ELCL1O0
http://www.nytimes.com/2007/06/04/us/politics/04bain.html
http://www.sacbee.com/2010/03/24/2629104/meg-whitman-flies-far-above-the.html#ixzz0j5nx9GNV
http://www.latimes.com/news/local/la-me-money24-2010mar24,0,7372116.story
http://www.nytimes.com/2007/06/04/us/politics/04bain.html
http://gawker.com/5429465/it-gets-worse-meg-whitmans-sons-racism-and-entitlement-
Romney Caught in Lie by Glen Johnson
Johnson in his article wrote:
“Republican Mitt Romney, in a rare moment of reflection about his losing 2008 presidential campaign, said Wednesday he would have been better served by keeping the focus on his "power alley" — the economy and his business background.”
After giving serious reflection to Romney’s “power alley”, it was not difficult to conjure up Mitt’s business background, but it was a stretch to see where Romney has an economic background – but then maybe it is only me who is unaware of Mitt’s vast expertise in economics and the economy.
Reflecting on Romney’s business background -
Romney did well at Bain, amassing a fortune for himself and his Bain partners. Mitt Romney typically, purchased companies thorough leveraged buyouts, often at the peril of other people’s jobs and companies. Mitt would sell off companies, pocketing a large profit, or shut companies’ doors after mortgaging the business to the hilt.
On the human side, not to make Mitt Romney out as a complete Scrooge, Romney’s business experience threw Mitt into suffering internal conflict, putting Romney in the throws of moral dilemmas. Jonathan Darman and Lisa Miller in their article for Newsweek relate one of Romney's conflicts.
“Romney struggled internally. R-rated movies are frowned upon in the Mormon faith, but the deal looked good for Bain. Romney's solution: make the deal happen, but skip his usual practice of putting some of his own money into it as well.”
Alas! Mitt found a loophole around the issue of moral conscience and the greed making a dollar. Romney’s perspective, by not “putting his own money in” he made money for Bain, not for himself. But wait! Romney would have made money. Romney certainly drew a salary at both Bain and Bain Capital, or did Mitt through the wizardry of accounting; deduct the tainted profits from his pay-check?
According to David D. Kirkpatrick 2006 article: “Mitt Romney owes his nearly $350 million fortune and his political career to a delicate negotiation with his boss (at Bain) in the summer of 1983.”
As for Mitt Romney’s internal struggles, Romney had voted as a board member of Marriott Corp., to offer porn in the hotel chain. Marriott is Mormon and an early fore-runner in introducing porn into the hotel industry.
Mitt the business private equity man -
“The amounts of money are so vast that it is truly a matter of time before the taxation of private equity is front and center of the public agenda,” said James E. Post, a Boston University professor who teaches business-government relations. “Increasingly, this world of private equity looks like a world of robber barons, and Romney comes out of that world.”
Romney’s type of business background was causing some issues in Washington:
“In Washington, Congress is considering ending a legal quirk that lets fund managers escape much of the income tax on their earnings.”
Searching for Romney’s economic background came up with few examples, except for excessive campaign spending. Whitman, a former Bain partner, is not to be undone by Romney on pouring in dollars into her campaign in California. Meg and Romney must feel unbridled spending during campaigns strengthens the nations economy.
Romney believes in keeping money among friends and family. Romney’s former Bain buddy, Meg Whitman has received strong criticism for her over the top spending, during her Romney backed, run for Governor in California. Whitman is spending a reported, $358,439.00 a day, $14,935.00 an hour, $249.00 a minute as reported by Michael Rothfeld and Jack Dolan of the L.A. Times.
According to Dan Morain of the Sacramento Bee, Meg is enjoying –
“ACM Aviation, which boasts on its Web site that it "has been offering white-glove, on-demand, premium jet charter services for more then 28 years”, spending $371,125.00 for air travel."
Meg has also:
“… paid $96,000 last year to Solamere Capital, a Massachusetts-based firm who’s Web site says it "was founded to serve as a multifamily office focusing on superior private equity opportunities."
“Solamere's principals include Romney's son Tagg Romney and Spencer J. Zwick, who was prominent in Mitt Romney's presidential campaign. Zwick is her finance chair; she has paid his firm, SJZ Inc., $842,000.”
What the article failed to mention, Meg’s son Griff's listed in his LinkenIn profile the private equity firm of Solamere. Clink on the reference link ‘gawker.com below, for a read on Meg’s sons. It is not understood what Solamere has done for the Whitman campaign.
The only economic experience Romney appears to have is improving his families and former Bain partners’ lavish life-style, and an attempt at political control.
References:
http://www.google.com/hostednews/ap/article/ALeqM5hvWSdl8-sh9izAmBN1Z8vtDUQGfgD9ELCL1O0
http://www.nytimes.com/2007/06/04/us/politics/04bain.html
http://www.sacbee.com/2010/03/24/2629104/meg-whitman-flies-far-above-the.html#ixzz0j5nx9GNV
http://www.latimes.com/news/local/la-me-money24-2010mar24,0,7372116.story
http://www.nytimes.com/2007/06/04/us/politics/04bain.html
http://gawker.com/5429465/it-gets-worse-meg-whitmans-sons-racism-and-entitlement-
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