“I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want”–Zero Hedge and more

taibbi 4This saga is one of the prime examples of the disgusting corruption and corporatist fascism that the American people have allowed to destroy our nation, a country once, many, many years ago ruled by law. If you have not followed this story at zero hedge or other alternative news media, it is worth your while to read all of the material included in this post and the radio broadcast linked below. This is just the tip of an iceberg of corruption and self-dealing among America’s leading financial institutions and the government, it permeates the very soul of corporate America.

Today, is one of those days when I am so overwhelmed with disgust and outrage that it has been difficult to function. Is there any honesty left in America, perhaps even the world? Where is the outrage? Where are the Americans willing to fight for their freedoms, for their rights and for the principles that we once believed in? Those freedoms and rights are not at risk in the Middle East. No, damn it, they are most at risk here on our native soil, in our lands and within our government and the vast police state and bureaucratic system that rules us.

If you put your faith in the “democratic” process and the elections coming up in November to voice your frustrations, you will be simply dancing to the tunes the system and the “establishment”  want you to hear. A tweak here a minor divergence there, but nothing meaningful will change. There is not one politician alive who can make it to the finish line that has not already been, or soon will be, corrupted by the siren songs of money and power..not one, no matter how much you may think otherwise. This should make you want to scream or cry, either way your pain will not be felt within the beltway or the morally depleted canyons of Wall Street.

When we first covered the Carmen Segarra lawsuit alleging the capture of the NY Fed by Goldman Sachs back in October 2013 [9], we didn’t have much hope for justice to get done. We said that “while her allegations may be non-definitive, and her wrongful termination suit is ultimately dropped, there is hope this opens up an inquiry into the close relationship between Goldman and the NY Fed. Alas, since the judicial branch is also under the control of the two abovementioned entities, we very much doubt it.”

goldman-sachs-vampire-squidSure enough, the lawsuit was dropped (and no inquiry was opened) but not before it became clear that the very judge in charge of the case, U.S. District Judge Ronnie Abrams [10], was herself conflicted, after it was revealed that her husband, Greg Andres, a partner at Davis Polk & Wardwell, was representing Goldman in an advisory capacity. Curiously, before she assumed her current office in March 2013, back in 2008 Abrams returned to Davis Polk herself [11]as Special Counsel for Pro Bono. She had previously worked at the firm from 1994 to 1998. For the full, and quite amazing, story of how the “Judge” steamrolled Segarra’s objections reads this Reuters piece. [12]

As a result of this fiasco, some wondered just how far do Goldman’s tentacles stretch not only at the money-printing (i.e., NY Fed) level, not only at the legislative level (see “With Cantor Down, Which Other Politicians Has Goldman Invested In [13]?”), but at the judicial as well.

And then, on Friday, the Segarra case against the Federal Reserve branch of Goldman Sachs got a second wind, when as a result of another disclosure, ProPublica revealed “How Goldman Controls The New York Fed in 47.5 Hours Of “The Secret Goldman Sachs Tapes.” [14] That is to say, nothing new was revealed per se, because as anyone who has read this website for the past 6 years knows just how vast Goldman’s network is not only at the Fed, but in that all important other continent too, Europe .

[gview file=”http://www.troutinmilk.com/wp-content/uploads/2014/09/How_Goldman_Controls_The_New_York_Fed_475_Hours_Of_The_Secret_Goldman_Sachs_Tapes_Explain.pdf”]

[gview file=”http://www.troutinmilk.com/wp-content/uploads/2014/09/I_Am_Putting_Everything_In_Goldman_Sachs_Because_These_Guys_Can_Do_Whatever_The_Hell_They_Want.pdf”]

[gview file=”http://www.troutinmilk.com/wp-content/uploads/2014/09/Goldman_Whistleblower_Sues_NY_Fed_For_Wrongful_Termination.pdf”]

[gview file=”http://www.troutinmilk.com/wp-content/uploads/2014/09/Elizabeth_Warren_wants_to_probe_if_Fed_is_too_close_to_big_banks.pdf”]

[gview file=”http://www.troutinmilk.com/wp-content/uploads/2014/09/Tapes_prove_regulators_cozy_with_Goldman_Report.pdf”]

via “I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want”.

536: The Secret Recordings of Carmen Segarra

Ira introduces Carmen Segarra, a bank examiner for the Federal Reserve in New York who, in 2012, started secretly recording as she and her colleagues went about regulating one of the most powerful financial institutions in the country. This was during a time when the New York Fed was trying to become a stronger regulator, so that it wouldn’t fail to miss another financial crisis like it did with the meltdown in 2008. As part of that effort to reform, the Fed had commissioned a highly confidential report, written by Columbia professor David Beim, that identified why the regulator failed in the years leading up to the crisis. Beim laid out specific recommendations for how the Fed could fix its problems. Carmen’s recordings allow us to see if the Fed successfully heeded those recommendations more than two years later. What we hear is not reassuring.
The more things change, the more they stay the same–but not really so. They get worse as the disease of power and money eating at the moral, ethical and legal heart of this nation has only metastasized sucking the life out of the host, the American people.