You will recall how a former CEO of Goldman Sachs, Hank Paulson, ran the Crash of ’08 as Bush’s treasury secretary by getting an ethics waiver so that he could talk almost every day with Lloyd Blankfein, CEO of Goldman Sachs.
The article below recounts how Blankfein has now been invited to Capitol Hill to tell the Republican leaders what to do about our taxes and federal spending. He may already have been to the White House or simply picked up the phone to tell the president what to do. We don’t know because although the White House acknowledges they have been consulting CEO’s, they won’t tell us which ones.
What a great idea. More advice and counsel for our leaders from Goldman Sachs. Just what we need.
Goldman’s is one of the voices warning about the fiscal cliff. Translated, this means promise to fix the deficit sometime in the indefinite future, don’t do too much now. Fixing it now would ruin the party that everyone is enjoying on Wall St.
The best thing for everyone would be to ignore Goldman Sachs. We need to stop all the government money printing, borrowing, and spending. We don’t need to do it later. We need to do it now. Doing it now would in all probability help the economy more than anything else. Spending sprees can’t go on forever, even if stopping them crimps Goldman Sachs bonuses.