Fat cats on Wall Street
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Forthewall
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Oh, Oh, look at Obama, he's making money on speaking fees! Relax, they all make money on speaking fees from the POTUS to former administration officials after they leave office.
That being said, it's time to end the gravy train. The salary for being POTUS is $400K, so making that for 90 minutes of basically shooting the chit needs to end.
I don't care that they get paid, but there should be a cap around $25K for speaking engagements. The CEO of ATT makes $25K an hour so I think this is a reasonable sum.
That being said, it's time to end the gravy train. The salary for being POTUS is $400K, so making that for 90 minutes of basically shooting the chit needs to end.
I don't care that they get paid, but there should be a cap around $25K for speaking engagements. The CEO of ATT makes $25K an hour so I think this is a reasonable sum.
NeMont
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Just curious why the government should be in the positions of deciding anything about the speaking fees of anyone? Even a former POTUS?
Reagan got $2 million to speak in Japan back in the 1990's. What would that be worth now?
Anyway I find it hypocritical on Obama's part to take money from Wall Street but I have no real beef with two willing parties agreeing on a fee in exchange for a speech.
Nemont.
Reagan got $2 million to speak in Japan back in the 1990's. What would that be worth now?
Anyway I find it hypocritical on Obama's part to take money from Wall Street but I have no real beef with two willing parties agreeing on a fee in exchange for a speech.
Nemont.
wstrntines
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I wouldn't pay a dime to listen to a jack A55 like flapper say a thing. I can't believe anyone was dumb enough to spend any kind of money to listen to that treasonous bastard speak.
Forthewall
Long Time Member
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"I have no real beef with two willing parties agreeing on a fee in exchange for a speech."
Agreed. For those who have never held office or served and receive speaking fees in the private sector, government regulations would indeed be government overreach.
However, one does not need to delve to far to see the influence Goldman Sachs has in DC given the numerous appointments in multiple administrations.
It presents a quid pro quo you do something for me and I do something for you. Even after leaving office ex-politicians carry a lot of influence in the system they worked for.
Goldman Sachs Personnel in the Barack Obama White House
Lael Brainard: Brainard is the United States Under Secretary of the Treasury for International Affairs in the administration of Obama.
Gregory Craig: Former White House Counsel, Recently hired by Goldman Sachs.
Thomas Donilon: Deputy National Security Adviser (despite having a career that is mostly involved with domestic politics). Donilon was a lawyer at O?Melveny and Myers and made almost $4 million representing meltdown clients including Penny Pritzker (of Chicago) and Goldman Sachs.
William C. Dudley: President and Chief Executive Officer of the Federal Reserve Bank of New York, partner and managing director at Goldman Sachs and was the firm?s chief U.S. economist for a decade.
Douglas Elmendorf: Obama Director of the Congressional Budget Office in January 2009, replaced Furman as Director of the Hamilton Project (Note that the Hamilton Project was funded by Robert Rubin and Goldman Sachs).
Rahm Emanuel: Obama Chief of Staff, on the payroll of Goldman Sachs receiving $3,000 per month from the firm to ?introduce us to people", in the words of one Goldman Sachs partner at the time.
Dianna Farrell: Obama Administration: Deputy Director, National Economic Council. Former Goldman Sachs Title: Financial Analyst.
Stephen Friedman: Obama Administration: Chairman, President's Foreign Intelligence Advisory Board. Former Goldman Sachs Title: Board Member (Chairman 1990-94; Director 2005).
Michael Frohman: Robert Rubin?s Chief of Staff while Rubin served as Secretary of the Treasury and an Obama ?head hunter? according to ?Rubin Proteges Change Their Tune as They Join Obama?s Team? in the New York Times.
Anne Fudge: Appointed to Obama budget deficit reduction committee. Fudge has been the PR craftsman for some of America?s largest corporations. She sits, according to the Washington Post, as a Trustee of the Brookings Institution within which the Hamilton Project is embedded.
Jason Furman: Directed economic policy for the Obama Presidential Campaign, served as the second Director of the Hamilton Project after Peter Orszag?s departure for the Obama administration.
Mark Gallogly: Sits on the Hamilton Project's advisory council. He is also, according to Wikipedia, currently a member of President Obama?s Economic Recovery Advisory Board.
Timothy Geithner: Secretary of the Treasury, former President of the New York Fed. a former managing director of Goldman Sachs.
Gary Gensler: Obama Administration: Commissioner of the Commodity Futures Trading Commission. Former Goldman Sachs Title: Partner and Co-head of Finance.
Michael Greenstone: The 4th Director of the Hamilton Project. Just as attorney Craig went from advising Obama to defending Goldman Sachs against the SEC complaint, Greenstone has used the revolving door to go from an Obama economic adviser position to one of the Goldman Sachs outlets - in this case its think tank embedded in the Brookings Institution and funded by Goldman Sachs and Robert Rubin. All 3 previous Directors of the Hamilton Project work in the Obama administration.
Robert Hormats: Obama Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department. Former Goldman Sachs Title: Vice Chairman, Goldman Sachs Group.
Neel Kashkari: Served under Treasury Secretary Paulson (a former Goldman Sachs CEO) and was kept on by Obama after his inauguration for a limited period to work on TARP oversight. Former Vice President of Goldman Sachs in San Francisco where he led Goldman?s Information Technology Security Investment Banking practice.
Karen Kornbluh: (Sometimes called "Obama?s brain") Obama Ambassador to the OECD. Was Deputy Chief of Staff to 'Mr. Goldman Sachs', Robert Rubin.
Jacob "Jack" Lew: The United States Deputy Secretary of State for Management and Resources. According to Wikipedia, Lew sits on the Brookings-Rubin funded Hamilton Project Advisory Board. He also served with Robert Rubin in Bill Clinton?s cabinet as Director of OMB.
David Lipton: Now on Obama?s National Economic Council and the National Security Council. Lipton worked with Larry Summers and Timothy Geithner on the US response to the Asian financial crisis of the 1990?s. MergeFoundations reports that Lipton worked closely with Robert Rubin.
Emil Michael: White House Fellow. Former investment banker with Goldman Sachs.
Eric Mindich: Former chief strategy officer of New York-based Goldman Sachs, started Eton Park in 2004 with $3.5 billion, at the time one of the biggest hedge-fund launches ever. .....Hank Paulson Tipped Off The Goldman-Led "Plunge Protection Team" About Fannie Bankruptcy 7 Weeks In Advance (2007): Goldman operative Eric Mindich in the hierarchy of the Asset Managers' committee of the President's Working Group on Capital Markets, better known of course as the PPT (in 2009).
Philip Murphy: Obama Administration: Ambassador to Germany. Former Goldman Sachs Title: Head of Goldman Sachs, Frankfurt.
Barack Obama: Obama owes his career to Goldman Sachs which was not only his biggest financial contributor when he ran for the Presidency, but was also his biggest contributor when he ran for the US Senate.
Peter Orszag: Obama Budget Director. Founding director of the Hamilton Project, funded by Goldman Sachs and Robert Rubin. Wikipedia indicates that Robert Rubin, Goldman?s ex-CEO, was one of Orszag?s mentors.
Mark Patterson: Obama Administration: Chief of Staff to Treasury Secretary Timothy Geitner. Former Goldman Sachs Title: Lobbyist 2005-2008; Vice President for Government Relations.
Mark Peterson: Chief of staff to Timothy Geithner. Goldman Sachs Vice President and lobbyist.
Steve Ratner: The shady billionaire financier who Obama appointed as his ?car czar? and who resigned after it was revealed that his company, the Quadrangle Group, was apparently involved in ?pay to play? for a billion dollars or so of New York State pension funds, and was under possible indictment by the New York AG and the SEC. Sits on the Advisory Council of the Goldman funded Hamilton Project.
Robert Reischauer: A member of the Medicare Payment Advisory Commission from 2000-2009 and was its Vice Chair from 2001-2008. He too sits on the Hamilton Project's advisory board.
Alice Rivlin: Obama named Alice Rivlin to his so-called Deficit Reduction Commission.
James Rubin: Son of Robert Rubin. Served as a 'headhunter' for Obama per the New York Times article, "Rubin Proteges Change Their Tune as They Join Obama?s Team".
Gene Sperling: Advisor to Timothy Geithner on bailouts. Sperling paid by Goldman Sachs for one year of consulting work.
Adam Storch: Obama Managing Executive of the Security and Exchange Commission?s Division of Enforcement. Former Vice President in the Goldman Sachs Business Intelligence Group.
Larry Summers: Obama chief economic adviser and head of the National Economic Counsel. Worked under Robert Rubin at Goldman Sachs.
John Thain: Obama Administration: Advisor to Treasury Secretary Timothy Geithner. Former Goldman Sachs Title: President and Chief Operating Officer (1999-2003).
Goldman Sachs personnel in the George W. Bush White House
Joshua Bolten: Bush II Administration: White House Chief of Staff (2006 ? 2009). Former Goldman Sachs Title: Executive Director, Legal & Government Affairs (1994-1999).
William C Dudley: NY Federal Reserve: Current President/CEO. Former Goldman Sachs Title: Partner and Managing Director ? 2007.
Edward C. Forst: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Co-head of Goldman?s investment management business.
Stephen Friedman: NY Federal Reserve: Former Chairman of the Board ? 2009. Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director 2005-).
Gary Gensler: Bush II Administration: Undersecretary of the Treasury (1999-2001) and Assistant Secretary, Treasury (1997-1999). Former Goldman Sachs Title: Partner and Co-head of Finance.
Reuben Jeffery III: Bush II Administration: Under Secretary for Economic, Energy and Agricultural Affairs, State Department (2007?2009). Former Goldman Sachs Title: Managing Partner, Paris until 2002 Security Investment Banking Practice.
Dan Jester: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Deputy CFO.
Neel Kashkari: Bush II Administration: Assistant Secretary for Financial Stability, Treasury (2008 ? 2009). Former Goldman Sachs Title: Vice President, Goldman Sachs San Francisco; led Information Technology Security Investment Banking Practice.
Eric Mindich: Former chief strategy officer of New York-based Goldman Sachs. Started Eton Park in 2004 with $3.5 billion.
Henry Paulson: Bush II Administration: Secretary of the Treasury 2006 - 2009. Former Goldman Sachs Title: Chairman and CEO (1998-2006).
Robert Rubin: Bush II Administration: Secretary of the Treasury 1995-1999. Former Goldman Sachs Title: Vice Chairman (1987-1990).
Is this just a mere coincidence?
Betsy DeVos and family has contributed $200 million to the GOP. Does anybody outside of Betsy DeVos really believe she would have been confirmed as Secretary of Education if those contributions did not exist? Especially given the fact that her confirmation ran almost completely on partisan lines with Pence being a tie-breaker?
Quid pro quo is the essence of the muck that fills the swamp. If ex-politicians did not still have influence in government do you really believe they would be paid so generously to speak?
Agreed. For those who have never held office or served and receive speaking fees in the private sector, government regulations would indeed be government overreach.
However, one does not need to delve to far to see the influence Goldman Sachs has in DC given the numerous appointments in multiple administrations.
It presents a quid pro quo you do something for me and I do something for you. Even after leaving office ex-politicians carry a lot of influence in the system they worked for.
Goldman Sachs Personnel in the Barack Obama White House
Lael Brainard: Brainard is the United States Under Secretary of the Treasury for International Affairs in the administration of Obama.
Gregory Craig: Former White House Counsel, Recently hired by Goldman Sachs.
Thomas Donilon: Deputy National Security Adviser (despite having a career that is mostly involved with domestic politics). Donilon was a lawyer at O?Melveny and Myers and made almost $4 million representing meltdown clients including Penny Pritzker (of Chicago) and Goldman Sachs.
William C. Dudley: President and Chief Executive Officer of the Federal Reserve Bank of New York, partner and managing director at Goldman Sachs and was the firm?s chief U.S. economist for a decade.
Douglas Elmendorf: Obama Director of the Congressional Budget Office in January 2009, replaced Furman as Director of the Hamilton Project (Note that the Hamilton Project was funded by Robert Rubin and Goldman Sachs).
Rahm Emanuel: Obama Chief of Staff, on the payroll of Goldman Sachs receiving $3,000 per month from the firm to ?introduce us to people", in the words of one Goldman Sachs partner at the time.
Dianna Farrell: Obama Administration: Deputy Director, National Economic Council. Former Goldman Sachs Title: Financial Analyst.
Stephen Friedman: Obama Administration: Chairman, President's Foreign Intelligence Advisory Board. Former Goldman Sachs Title: Board Member (Chairman 1990-94; Director 2005).
Michael Frohman: Robert Rubin?s Chief of Staff while Rubin served as Secretary of the Treasury and an Obama ?head hunter? according to ?Rubin Proteges Change Their Tune as They Join Obama?s Team? in the New York Times.
Anne Fudge: Appointed to Obama budget deficit reduction committee. Fudge has been the PR craftsman for some of America?s largest corporations. She sits, according to the Washington Post, as a Trustee of the Brookings Institution within which the Hamilton Project is embedded.
Jason Furman: Directed economic policy for the Obama Presidential Campaign, served as the second Director of the Hamilton Project after Peter Orszag?s departure for the Obama administration.
Mark Gallogly: Sits on the Hamilton Project's advisory council. He is also, according to Wikipedia, currently a member of President Obama?s Economic Recovery Advisory Board.
Timothy Geithner: Secretary of the Treasury, former President of the New York Fed. a former managing director of Goldman Sachs.
Gary Gensler: Obama Administration: Commissioner of the Commodity Futures Trading Commission. Former Goldman Sachs Title: Partner and Co-head of Finance.
Michael Greenstone: The 4th Director of the Hamilton Project. Just as attorney Craig went from advising Obama to defending Goldman Sachs against the SEC complaint, Greenstone has used the revolving door to go from an Obama economic adviser position to one of the Goldman Sachs outlets - in this case its think tank embedded in the Brookings Institution and funded by Goldman Sachs and Robert Rubin. All 3 previous Directors of the Hamilton Project work in the Obama administration.
Robert Hormats: Obama Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department. Former Goldman Sachs Title: Vice Chairman, Goldman Sachs Group.
Neel Kashkari: Served under Treasury Secretary Paulson (a former Goldman Sachs CEO) and was kept on by Obama after his inauguration for a limited period to work on TARP oversight. Former Vice President of Goldman Sachs in San Francisco where he led Goldman?s Information Technology Security Investment Banking practice.
Karen Kornbluh: (Sometimes called "Obama?s brain") Obama Ambassador to the OECD. Was Deputy Chief of Staff to 'Mr. Goldman Sachs', Robert Rubin.
Jacob "Jack" Lew: The United States Deputy Secretary of State for Management and Resources. According to Wikipedia, Lew sits on the Brookings-Rubin funded Hamilton Project Advisory Board. He also served with Robert Rubin in Bill Clinton?s cabinet as Director of OMB.
David Lipton: Now on Obama?s National Economic Council and the National Security Council. Lipton worked with Larry Summers and Timothy Geithner on the US response to the Asian financial crisis of the 1990?s. MergeFoundations reports that Lipton worked closely with Robert Rubin.
Emil Michael: White House Fellow. Former investment banker with Goldman Sachs.
Eric Mindich: Former chief strategy officer of New York-based Goldman Sachs, started Eton Park in 2004 with $3.5 billion, at the time one of the biggest hedge-fund launches ever. .....Hank Paulson Tipped Off The Goldman-Led "Plunge Protection Team" About Fannie Bankruptcy 7 Weeks In Advance (2007): Goldman operative Eric Mindich in the hierarchy of the Asset Managers' committee of the President's Working Group on Capital Markets, better known of course as the PPT (in 2009).
Philip Murphy: Obama Administration: Ambassador to Germany. Former Goldman Sachs Title: Head of Goldman Sachs, Frankfurt.
Barack Obama: Obama owes his career to Goldman Sachs which was not only his biggest financial contributor when he ran for the Presidency, but was also his biggest contributor when he ran for the US Senate.
Peter Orszag: Obama Budget Director. Founding director of the Hamilton Project, funded by Goldman Sachs and Robert Rubin. Wikipedia indicates that Robert Rubin, Goldman?s ex-CEO, was one of Orszag?s mentors.
Mark Patterson: Obama Administration: Chief of Staff to Treasury Secretary Timothy Geitner. Former Goldman Sachs Title: Lobbyist 2005-2008; Vice President for Government Relations.
Mark Peterson: Chief of staff to Timothy Geithner. Goldman Sachs Vice President and lobbyist.
Steve Ratner: The shady billionaire financier who Obama appointed as his ?car czar? and who resigned after it was revealed that his company, the Quadrangle Group, was apparently involved in ?pay to play? for a billion dollars or so of New York State pension funds, and was under possible indictment by the New York AG and the SEC. Sits on the Advisory Council of the Goldman funded Hamilton Project.
Robert Reischauer: A member of the Medicare Payment Advisory Commission from 2000-2009 and was its Vice Chair from 2001-2008. He too sits on the Hamilton Project's advisory board.
Alice Rivlin: Obama named Alice Rivlin to his so-called Deficit Reduction Commission.
James Rubin: Son of Robert Rubin. Served as a 'headhunter' for Obama per the New York Times article, "Rubin Proteges Change Their Tune as They Join Obama?s Team".
Gene Sperling: Advisor to Timothy Geithner on bailouts. Sperling paid by Goldman Sachs for one year of consulting work.
Adam Storch: Obama Managing Executive of the Security and Exchange Commission?s Division of Enforcement. Former Vice President in the Goldman Sachs Business Intelligence Group.
Larry Summers: Obama chief economic adviser and head of the National Economic Counsel. Worked under Robert Rubin at Goldman Sachs.
John Thain: Obama Administration: Advisor to Treasury Secretary Timothy Geithner. Former Goldman Sachs Title: President and Chief Operating Officer (1999-2003).
Goldman Sachs personnel in the George W. Bush White House
Joshua Bolten: Bush II Administration: White House Chief of Staff (2006 ? 2009). Former Goldman Sachs Title: Executive Director, Legal & Government Affairs (1994-1999).
William C Dudley: NY Federal Reserve: Current President/CEO. Former Goldman Sachs Title: Partner and Managing Director ? 2007.
Edward C. Forst: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Co-head of Goldman?s investment management business.
Stephen Friedman: NY Federal Reserve: Former Chairman of the Board ? 2009. Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director 2005-).
Gary Gensler: Bush II Administration: Undersecretary of the Treasury (1999-2001) and Assistant Secretary, Treasury (1997-1999). Former Goldman Sachs Title: Partner and Co-head of Finance.
Reuben Jeffery III: Bush II Administration: Under Secretary for Economic, Energy and Agricultural Affairs, State Department (2007?2009). Former Goldman Sachs Title: Managing Partner, Paris until 2002 Security Investment Banking Practice.
Dan Jester: Bush II Administration: Advisor on setting up TARP to Treasury Secretary Henry Paulson 2008. Former Goldman Sachs Title: Deputy CFO.
Neel Kashkari: Bush II Administration: Assistant Secretary for Financial Stability, Treasury (2008 ? 2009). Former Goldman Sachs Title: Vice President, Goldman Sachs San Francisco; led Information Technology Security Investment Banking Practice.
Eric Mindich: Former chief strategy officer of New York-based Goldman Sachs. Started Eton Park in 2004 with $3.5 billion.
Henry Paulson: Bush II Administration: Secretary of the Treasury 2006 - 2009. Former Goldman Sachs Title: Chairman and CEO (1998-2006).
Robert Rubin: Bush II Administration: Secretary of the Treasury 1995-1999. Former Goldman Sachs Title: Vice Chairman (1987-1990).
Is this just a mere coincidence?
Betsy DeVos and family has contributed $200 million to the GOP. Does anybody outside of Betsy DeVos really believe she would have been confirmed as Secretary of Education if those contributions did not exist? Especially given the fact that her confirmation ran almost completely on partisan lines with Pence being a tie-breaker?
Quid pro quo is the essence of the muck that fills the swamp. If ex-politicians did not still have influence in government do you really believe they would be paid so generously to speak?
NeMont
Long Time Member
- Messages
- 12,632
If you make a law that has a maximum speaking fee, then they will get paid for an appearance fee, if not an appearance fee then it will be a consulting contract for "Global Interests", If not consulting then they will be paid to be the CEO's golf partner at the Member Guest Tournament at Augusta National. Money leaks into that system in many creative ways.
Kind of the Golden rule, who ever has the Gold makes the rules. I am not saying it is great that it goes on but I am not certain that capping speaking fees would do diddly squat to the problem.
Nemont
Kind of the Golden rule, who ever has the Gold makes the rules. I am not saying it is great that it goes on but I am not certain that capping speaking fees would do diddly squat to the problem.
Nemont
Forthewall
Long Time Member
- Messages
- 3,327
Sadly I agree, a forever swamp.
>I don't believe for a minute
>that people pay $400K for
>just a 90 minute speech.
>There is some other form
>of access that goes along
>with it. Or drugs or
>something. There's some kind of
>money laundering going on. Republican
>or Democrat.
eel you really think a politician would do something like that ?
>that people pay $400K for
>just a 90 minute speech.
>There is some other form
>of access that goes along
>with it. Or drugs or
>something. There's some kind of
>money laundering going on. Republican
>or Democrat.
eel you really think a politician would do something like that ?
eelgrass
Long Time Member
- Messages
- 31,436
>>I don't believe for a minute
>>that people pay $400K for
>>just a 90 minute speech.
>>There is some other form
>>of access that goes along
>>with it. Or drugs or
>>something. There's some kind of
>>money laundering going on. Republican
>>or Democrat.
>
>
> eel you
>really think a politician would
>do something like that ?
>
What could Obama talk about that's worth $400K? How to hit a 1 iron off the deck? That might be worth it.
>>that people pay $400K for
>>just a 90 minute speech.
>>There is some other form
>>of access that goes along
>>with it. Or drugs or
>>something. There's some kind of
>>money laundering going on. Republican
>>or Democrat.
>
>
> eel you
>really think a politician would
>do something like that ?
>
What could Obama talk about that's worth $400K? How to hit a 1 iron off the deck? That might be worth it.
elkassassin
Long Time Member
- Messages
- 36,969
To the 3 MM Stooges it's only 6 Figures!
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