Goldman Sachs, AKA Government Sachs, is very active politically. It has sought systematically to get its people into positions of power around the world.
The second best thing to do after having one of the bank’s own in positions of power from the bank’s perspective is to give piles of money to politicians who are likely to be friendly. (Or can be swayed to be friendly.) This is what they did for example with Barack Obama in 2008. Goldman was Obama’s largest private contributor.
Again, it should be noted that if it were not for the bank bailout Goldman Sachs would now be history. It should be history. The world would be a better place if Goldman were history.
The giant investment bank has become the symbol of the excesses of Wall Street, cited both by liberals leery of deregulated banking and conservatives opposed to big banks and “crony capitalism.” And it’s being singled out for its ties to the political establishment because of two top contenders for the presidency.
Hillary Clinton, the front-running Democratic candidate, received $675,000 in speaking fees from the firm. Sen. Ted Cruz of Texas, a top challenger for the GOP nomination, borrowed $500,000 from the firm to help finance his Senate campaign and then failed to reveal it on one of his legally mandated disclosure forms. Also, his wife, Heidi, is a managing director at the firm in Houston, although she is on leave.
ACC is a completely non-partisan organization. We do not support/endorse or oppose any candidate for office. We believe that both major parties are heavily influenced by special interests and will report on crony capitalism wherever and whenever we see it.