Goldman Sachs has been sued by the SEC. I don’t know law. Apparently the law is not clear enough to say that Goldman Sachs broke a law. They sold a designed defective product for commission and potential hidden gains if Goldman traders bet against the product in the backroom market. It’s not against the law but it is less than honorable.
You have an employee, Geithner, who facilitated cash advances to Goldman Sachs when bailing out AIG before the Credit Default Swaps were even settled under TARP. He never questioned that the CDS should be settled at full value rather than at a discount. It is suspicious since Goldman Sachs was your leading campaign contributor. Only you and Geithner know.
The underlying instruments were mortgages on homes of human beings. The people in expensive suits are all doing fine, the economy is going in the “right direction”. Hey the blue jean folk think housing is going in the “WRONG DIRECTION” and your man Geithner helps the bad guys more than the deserving.
I always recognize that the stimulus bill and healthcare are a celebration of well intentioned people doing really hard work.
Through the complexity of life, these same people have failings.
You promised Guantanamo would be closed in one year, it wasn’t.
You promised to cut waste in Government, you haven’t.
You promised to introduce immigration reform by your first year in Office, you haven’t.
In February 2009, you announced that Geithner had a plan to resolve the financial crisis. He never addressed the securitized mortgages and resolution of housing valuation is not in sight nor a priority of your administration.
At some point someone will say that you talk well but execute poorly.
You didn’t need this email, nor do I have time to waste. I wrote it for the following message, you need to improve your day to day handling of government. As much as Emanuel has contributed to your successes, he is too focused on his favorite causes, financial reform, energy and immigration.
He does no personnel evaluations, (Geithner and Holder have not worked out, but you have no replacements), he has no plan to reduce government spending and he doesn’t care about farmers. I hope you notice there is a lack of compassion for “the people”.
You have to put Emanuel on “Special Projects” and find a better rounded Chief of Staff, someone to be the Chief Operating Officer of the Government.
I told you so.
