Since switching from CNN to
Fox News, Glenn Beck has
become the new favorite
whipping boy for the Main
Stream Media and their evil
cousins in the Far-Left Blogo-
sphere.  Beck is probably the
most dangerous man on TV
these days.  Being a Libertar-
ian, he attacks both Democrats
and Republicans, holding all
politician's feet to the fire de-
spite party affiliation.

Beck is also the only regular
TV personage to raise issues
with the most powerful and
secret organization in America,
the Federal Reserve Bank.
This past week, he's taking on
another major power-broker:
Goldman Sachs.

Glenn's blackboard examina-
tion into the spider-web of
Goldman's power and influ-
ence in Washington has be-
come one of the most popular
videos on You-Tube.  Beck
outlines the connections and
time lines for how many of the
decisions made in the past
year have favored Goldman
Sachs.

The U.S. Government first
allowed Bear Stearns to fail.
Why?  Could it be that they
were a competitor of Goldman
Sachs?  Former Treasury
Secretary, Henry Paulson,
then allowed Lehman Brothers
to fail.  Why?  Could it be
because they were Goldman's
largest competitor?  Paulson,
it should be noted, used to be
CEO of Goldman Sachs.
Hmmmmmmmmm...

The day after Lehman crashed,
Paulson held a meeting to de-
cide the fate of insurance giant,
A.I.G..  The only non-govern-
ment attendee to that meeting
was the CEO of Goldman
Sachs.  Paulson chose to save
A.I.G. and $85 Billion taxpayer
dollars went to bail them out.
A.I.G. then paid off their largest
creditor, who, incidentally, was
none other than Goldman
Sachs, to the tune of nearly
$20 Billion dollars.

Coincidence?  Conspiracy?
Beck reports, you decide.

Who does Paulson appoint
to over see the TARP bailouts?
Neel Kashkari, from, where
else?  Goldman Sachs.  He in
turn decides, with Paulson’s
approval, to allow Goldman
Sachs to become a chartered
bank.  This gains access for
Goldman Sachs to more TARP
money, as well as money from
the F.D.I.C. and from the
Federal Reserve.

Hmmmmmm???

Enter the Obama Administra-
tion and the appointment of
Tim Geithner as it’s Treasury
Secretary.  While Giethner
is not part of the Goldman
Sachs alumni, his chief of
staff is, Mark Patterson.  He
was even given a waiver by
Giethner so Patterson could
still sit of Goldman’s board
of directors, and trade in their
stock, while working for the
U.S. Treasury.  Nice, huh?

Goldman Sachs reporting a
profitable 2Q this past week,
and a lucrative bonus program
for it’s employees.  Yet, there
is little outrage in the media,
despite the fact that the bonus
plan is several times larger
than those proposed by A.I.G.
and other.  True, Goldman
was ‘allowed’ to pay back
the TARP money Uncle Sugar
had lent them.  But a good part
of the reason that Goldman
Sachs as weathered the rec-
cession so well was due to
the pay-out from A.I.G. and
the access they now have to
other money sources, the
F.D.I.C. and the Federal
Reserve.

Perhaps if Goldman Sachs
is doing so well, maybe their
status as a charter bank should
also be retracted?  After all,
they are still dealing in very
speculative investments, such
as CDO’s.  Goldman recently
turned a tidy profit in oil specu-
lation, doubling their money
after they borrowed it from
the Federal Reserve at 5%
interest rate.

Beck isn’t the only one
railing against Goldman
Sach’s.  “Rolling Stone
Magazine” Matt Taibbi
has been writing about the
Goldman ‘cabal’.  How they
have been behind many of
the economic bubbles of the
past decade or so.  From
tech stocks, to energy specu-
lation (financing Enron), and
manipulating currency markets.
They are clearly a firm which
has benefited nicely from their
relationships with government,
primarily due to many of their
alumni being appointed to
government positions.

Goldman Sachs is now set to
exploit the carbon-credit
trading market and is sup-
porting the Obama Cap &
Tax legislation.  General
Electric, another corporation
well connected in Washington
is also looking to profit from
this bill.

It was bad enough when our
leaders in Washington were
too cozy with corporate lob-
byists.  Now, the lobbyists
and Wall Street execs are
part of the government!  The
laws they are passing are
such that benefit the corpor-
ations they came from.  
Meanwhile, small businesses,
which employ over 60% of
the people in America, and
are responsible for nearly
99% of new jobs created in the
past year, are left out to hang.
CIT Group, which has some
$70 Billion dollars in loans
outstanding to small business-
es, is on the verge of bank-
ruptcy.  Giethner has already
made it clear that TARP will
not be used to assist them.
The net result could see a
very long list of companies
going belly-up, this at a time
when unemployment is al-
ready soaring at unprece-
dented rates.

The economy could have
been helped for far less tax-
payer money if the assistance
had been directed to improv-
ing the financial climate of
America’s small businesses.
The credit crunch still exists,
despite bailing out the big
banks.  Pending legislation,
like Cap & Trade and Obama’s
health care plan will only serve
to cripple small business more.

What the hell are they thinking
in Washington?  They seem to
only being concerned about
what is best for Goldman
Sachs.