Public Says: Assume the Position, Goldman Sachs

The popular financial blog, Zero Hedge, says Goldman Sachs has assumed the defensive posture. Tyler Durden, the site’s main columnist, sees the angry fists of regulation emerging for the brokerage house. The public is turning against the much-reviled Wall Street firm and wants it to be broken up, says Durden.

It’s even more urgent that Goldman Sachs executives be forced to resign from key positions in the U.S. Government. It’s absurd for these executives to have positions in the Obama Administration. For example, the Atlantic Free Press lists the following ex-Goldman Sachs employees as working for the President:

•    Treasury Secretary Timothy Geithner’s chief of staff, Mark Patterson
•    The Chairman of the Commodities Futures Trading Commission (CFTC), Gary Gensler
•    Head of the Office of Financial Stability, Neel Kashkari

But wait, there’s more! AmericanBankingNews.com notes that former Goldman Sachs VP Adam Storch was appointed to be COO of the Securities and Exchange Commission (SEC).

If you’re thinking that this is like the fox guarding the hen house, you’re right. It gets even more coincidental, though. As noted by Politico, Robert Hormats, a former Goldman Sachs director who gave campaign contributions to Obama, was nominated to be undersecretary of state. On September 23, 2009, he was sworn in at the Department of State.

We’d like to believe that the presence of so many former Goldman Sachs executives in the Obama Administration is a coincidence. But that becomes increasingly difficult when, as reported by OpenSecrets.org, it’s revealed that the brokerage house contributed $994, 795 to Obama’s campaign.