Friday, April 16, 2010

Obama and Goldman Sachs

What did Obama know, and when did he know it?

Opensecrets.org shows us the Top Contributors to President Barack Obama's 2008 campaign.  According to the campaign finance records compiled here, Goldman Sachs donated $994,795.00 to help Obama buy some real estate at 1600 Pennsylvania Ave.

Today, news is breaking that the Wall Street giant is being sued by the SEC for fraud:

As part of the complaint, the SEC alleges that one of the world's largest hedge funds, Paulson & Co., paid Goldman $15 million to structure a product that would allow the fund to take a short position against mortgage-backed securities chosen by Paulson based on the fund's belief that the value of the securities would fall.

The SEC alleges that the shady goings on occurred in April 2007, which was about the time Mr. Obama was laying the groundwork for his 2008 presidential bid. Things that make you go hmmmm.

You may read the official complaint here (PDF).

Extra Point: Oh, Goldman Sachs donated to John McCain's campaign, too.  A whopping $230,095.

1 comments :

aw1tim said...

It's going to be interesting to see how this plays out. The SEC was commenting on a similar vein over the weekend, about how all of this seems a little convenient, timing-wise, compared to the push for more government control over the financial sector.

I sincerely hope that the Obama administration gets some serious push-back over this. I find this administration to be frightening in it's seemingly insatiable hunger for power over every facet of our national and personal lives.