August 22, 2010
The Man who put the Gold in Goldman Sachs
"Too well-connect to fail"
The New American
The Government and Goldman Sachs
In 1848, Karl Marx released his crowning achievement, The Communist Manifesto
. All over Europe that year, Judeo-Communist revolutions spread like the plague, but it was eventually contained.
Kicked out of Europe, or one step ahead of the law, during those Judeo-Communist revolutions was Marcus Goldman, arriving in America in 1848, beginning a career as many newly arrived European Jews did, as a peddler in Philadelphia. Moving to New York, he brought his son-in-law, Samuel Sachs, on board and Goldman Sachs was born.
But it would be future CEO Sidney Weinberg who would transform Goldman Sachs into the powerhouse it is and transform America as well.
As a boy, Weinberg was noted to have made money with the Panic of 1907. During the bank run on J.P. Morgans Trust Company of America, Weinberg would stand in line until reaching the front of the line and then sell his position to one of the panicking depositors. Then he would go to the end of the line and start all over.
With a large hoard of cash for such a young kid, Weinberg skipped school for a week and was kicked out.
Forced to get a job, Weinberg became a janitor at Goldman Sachs and would become a partner of the firm in 1927, at the height of the Roaring 20's asset bubble.
Lucky for Weinberg, heir Henry Goldman was a typical Jew who supported the German side during WW1 because he was fighting the hated Christian Russian leader Czar Nicholas. Goldman's problem was that he did not change his position after the Balfour Declaration gave the green light to all Jews to turn on the Germans so that England would give the Jews a homeland from the Ottoman Empire lands they captured for the Jews in the Middle East. With the Czar defeated and no longer a threat, Henry Goldman was not properly following the Jewish agenda, hence the Goldman heir was forced to resign, leaving a power vacuum for many years.
The second lucky break for Weinberg was that Goldman Sachs was heavily leveraged at the time of the 1929 stock market crash. The leadership of Goldman Sachs was dumped and Sidney Weinberg was in line to become senior partner and then promoted to head the firm in 1930.
Against all odds, Weinberg saved Goldman Sachs and built it into the empire it is today, but with much help from FDR.
FDR was running for president in 1932 and Weinberg was a member of the Democratic Party's National Campaign Finance Committee. In this position, Weinberg raised astronomical sums for FDR's campaign.
Weinberg would have the favor returned of course.
FDR immediately appointed Weinberg to organize the Business Advisory and Planning Council. This entity would begin the corrupt liaison between Washington and Wall Street during the Great Depression and that continues to this day.
FDR called the butcher Stalin by the affectionate nickname of "Uncle Joe". He would call Sidney Weinberg by another affectionate nickname, "The Politician", because Weinberg had a uncanny ability to soothe free market businessmen into succumbing to the controls and regimentation of the American Free Market imposed by the New Deal.
Weinberg was instrumental in creating the forerunner to the Securities and Exchange Commission, the Stock Market Board.
During WW2, Weinberg was appointed assistant to the chair of FDR's War Production Board, a wartime fascism which sought to enlist every American businessman to the war effort.
During this time, Weinberg became known as "the body snatcher", for his way of snatching up the best talent and bringing them into the government.
After the war, this talent pool was sucked into Goldman Sachs for investment services.
The New American gives an excellent example of the Mossad-like activities of Weinberg, helping to explain one way he became so successful.
Goldman Sachs was asked by Baldwin United to defend it against a hostile takeover by a corporate raider.
Weinberg hired a private investigator who obtained pictures of the raider in a compromising position with a young lady in a hotel room.
Laying the photos in front of the corporate raider, the investigator said,
"You believe in this free country and so do I. Anybody can buy anything in this wonderful country".
You can buy almost anything. But don't do Baldwin or these could show up in the New York Post."
With these Mossad tactics, Baldwin was saved, earning Goldman Sachs a hefty commission.
Over the years, Goldman Sachs has become a fountain of government financial incest between government regulators and the industry they were expected to regulate.
Treasury Secretary Henry Fowler (Apr. 1, 1965 - Dec. 20, 1968) became a partner at Goldman Sachs after leaving government
Treasury Secretary Robert Rubin (Jan. 10, 1995 - Jul. 2, 1999) was a former co-chairman of Goldman Sachs.
Treasury Secretary Henry Paulsen (Jul. 10, 2006 - Jan. 20, 2009) was a Goldman Sachs CEO.
U.S. Senator and Governor of New Jersey Jon Corzine was a Goldman Sachs chairman.
World Bank President Robert Zoellick was a managing director at Goldman Sachs.
White House Chief of Staff for GW Bush was Joshua Bolten, a former Goldman Sachs employee.
Goldman Sachs operatives Robert Hormats, Mark Patterson, Adam Storch and Gary Gensler were recruited by the Obama Administration
Men with financial ties to Goldman Sach, appointed by Obama to top economic posts, were Timothy Geitner, Lawerence Summers, and Gene Sperling.
Being an insider pays handsome dividends.
When the second Great Depression hit in 2008, former Goldman Sachs CEO Henry Paulson allowed competitor Lehman Brothers to go bankrupt before bringing the federal government to the rescue of Goldman Sachs -- the second time Goldman Sachs has been saved during national Depressions.
Thanks to Sidney Weinberg,
Goldman Sachs did not become "too big to fail"...
Goldman Sachs became "too well connected to fail".
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