Goldman Sachs Builds Lobbyist Machine, Ramps Up Political Spending

Washington Post:

Until a few years ago, Goldman Sachs operated a sleepy lobby shop in the nation's capital.
This Story

But now, faced with fraud charges, investigations, a firestorm of criticism and a regulatory overhaul bill that could seriously damage its profitability, the venerable Wall Street firm is assembling a team of veteran lobbyists, well-connected former Hill staffers and top public relations strategists to confront what is arguably the most traumatic moment in its 140-year history.

Read the whole story: Washington Post

Comments

[Vivian Norris de Montaigu]

05:10 PM on 05/01/2010

Take the Goldman money and give it to 1) the homeless 2) the almost homeless 3)anyone shorting them

[wrightlawsuit]

02:08 AM on 04/30/2010

Yah I wonder how many more of these banks we are going to see in the headlines? It seems like a lot of the banks were doing the same thing. But I own a home and paid my mortgage on time for over five years! Then people where I lived started losing their homes and it hurt my customer base for my small company. I mean I have not seen anything like this the entire time I have owned my company (25 years). These greedy little piggy banks potentially cause the whole housing crisis and then got a bail out in the billions! I have been an honest business owner the entire time and paid my taxes. For what!? For them to give the Piggy Banks a bail out? The very Piggy Banks that potentially caused the crisis!? Like the idea of modifications or not, TARP received 591 billion dollars of tax payer money and if anyone is going to get a bail out, it needs to be the American Tax Payer! Can you imagine what bank made off just having $25 billion dollars?

I am tired of it and I am fighting back!

You can join my fight or support me with your comments at:

www.unitedlawgroup.com/news_ULG_files_suit_bofa_behalf_john_wright.html#comments

Sincerely,
[e-mail]

[MadAppraiser]

01:32 PM on 04/29/2010

Goldman Sachs plays both sides of the political and financial corridor in a manner consistent with their Wall Street precision. Goldman Sachs has purchased, and placed a number of Washington political fixtures in their K Street political portfolio for a long time. Goldman Sachs founding near the end of the 19-century dates the founding of the modern American central bank (Federal Reserve) in the beginning of the 20-century. Goldman Sachs is an apolitical Wall Street fixture that learned manipulative political and financial behavior expertly!

[Ruben40]

09:50 PM on 04/29/2010

Your wrong they are no experts and if they were they would not be in this mess. Another thing it was Obama who demanded reform and if it were not for him this would have never been in the news and Goldman Sachs would not be scrambling to get every resource that they can buy. They do not seem to understand that they are wasting their money because it is their own arrogance that they need to fix and their own arrogance will not let them realize that. And if they show no responsibility they will incriminate themselves just by talking. Their refusal to live in reality is what will send them to a real prison.

[gmb007]

01:06 PM on 04/29/2010

This ridiculous hearing is nothing more than the foxes scolding the other foxes for getting caught - all the while reassuring the hens that they're protecting their hen houses and eggs.

[Hallucinocynic]

12:33 PM on 04/29/2010

Establishing a new bank regulatory system is one step in the right direction; establishing an effective firewall between K Street and Congress is an additional and essential task.

Business in DC is not much different than the midway at a country fair. Unfettered lobbyists use currency as calling cards, and too many reps have long since forgotten why and who they are in Congress to represent. Segregating special interests from campaigns - creating PUBLIC campaign financing - is the first step toward dulling the ridiculous influence that lobbyists have enjoyed for too long.

[gmb007]

12:30 PM on 04/29/2010

http://i.huffpost.com/gen/161655/thumbs/s-GOLDMAN-SACHS-LOBBYIST-large.jpg

I love this photo. :) The back of Blankfein's bald head as Sen. Levin grills him - you just know all that shine is massive sweat.

[BBackSoon]

12:01 PM on 04/29/2010

Is spending on lobbying tax deductible?

Does spending on lobbying get listed as an expense so it offsets profits, just like Executive Pay Packages and Bonuses?

[Matt12]

11:51 AM on 04/29/2010

What lobbyist machine is being built; who’s left to be bribed?. Don't they have Summer, Geithner, Emanuel and their lieutenants in place already?

[01202009]

11:06 AM on 04/29/2010

Is that blurry thing in the foreground of the picture a giant squid?

[irishred]

11:04 AM on 04/29/2010

Hey, polls takers, you wanna take a poll that would really knock the socks off? Ask what the amercian people what they think of lobbyists. I'll bet you will get at least 99% republicans, independents, democrats, hell everybody will be against lobbying. The other 1% politicans and lobbyists will be for it.

[itjustis]

10:54 AM on 04/29/2010

Golman Sachs has contributed twice as much to Democratic candidates than Republicans over the last decade.Goldman Sachs and its employees have put at least $694,000 into the campaigns of federal candidates in the 2010 election cycle - that money flowing by a better than two-to-one margin to the Democratic Party It's kind of funny watching these Democrats wag their fingers at them. If they're truly upset why don't they take a lesson from Blanche Lincoln and donate those contributions to charities? Fat chance you'll see that happen.

[lightningbolt]

10:46 AM on 04/29/2010

Clearly, our government isn't going to do anything about the rampant bribery going on. We the people are going to have to stop it by force. We must block lobbyists office entrances and stalk them wherever they go. We must make being a lobbyist a dangerous job. We need to strike fear in the hearts of lobbyists. These criminals must be stopped at all costs.

[irishred]

10:57 AM on 04/29/2010

Agree! And then if government does pass a stricter campaign finance reform, the radical supreme court will dismantle that too.
On the brighter side, Goldman Sachs and others have become(hopefully) too toxic for politicans to have them on their resumes.

[lightningbolt]

10:44 AM on 04/29/2010

Why isn't the press calling it a bribery machine? Lobbying is bribery. There is no difference.

[Bpeirce]

10:35 AM on 04/29/2010

Obviously these greedy bankers have plenty of money to play with. Public funding of elections. Take the Lobbyists out of Washington....Now

[Nosybear]

09:46 AM on 04/29/2010

Best gubmint money can buy!