Tag: investment bank

The one person that Bernie Sanders wants criticizing him…criticizes him

If I were Bernie Sanders, there would be exactly one person I would want criticizing me. That person is Lloyd Blankfein, the head of Goldman Sachs.

Since Goldman Sachs has become a political talking point to many, I’ll remind everyone who they are. They are a very large investment banking firm that was heavily involved in the subprime mortgage crisis that was one of many factors that contributed to the Great Recession of the later part of the previous decade. Additionally, Goldman Sachs has served as a revolving door between governments in multiple countries and Wall Street, with former U.S. cabinet members and current Australian Prime Minister Malcolm Turnbull having also worked for Goldman Sachs.

Now, back to my original point…Blankfein thinks that Bernie criticizing the undue influence of Goldman Sachs on our political system is a “dangerous moment” for America:

The head of Goldman Sachs believes being singled out for criticism by Bernie Sanders represents a “dangerous moment” for the country.

Lloyd Blankfein, the Wall Street giant’s chief executive, said Wednesday that the Democratic presidential candidate might have gone too far in personally targeting him.

“To personalize it, it has potential to be a dangerous moment. Not just for Wall Street … but for anybody who is a little bit out of line,” he said in an interview with CNBC.

Bernie isn’t personally criticizing Lloyd Blankfein. Instead, he’s taking on both a financial industry where greed is rampant and a political establishment that is beholden to same financial industry. Lloyd Blankfein is, in many ways, the personification of a lot of what is wrong about this country, and we’re taking back our country from people like Lloyd Blankfein and the politicians who are beholden to people like him! Let’s rein in Wall Street and protect American consumers! Greed is dangerous to America, not people who want to save capitalism from its own greed.

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John Kasich is nothing like Elizabeth Warren

John Kasich, the virulently anti-middle class Republican who happens to also be the Governor of Ohio and a possible presidential candidate, went on CNN’s State of the Union political talk show and did two things that set me off. First, he bragged about being a part of the late 2000’s financial meltdown that destroyed this country’s economy (Kasich was the managing director of the Columbus, Ohio office of the Lehman Brothers investment bank until Lehman Brothers went bust). Second, he claimed that U.S. Sen. Elizabeth Warren (D-MA), a staunch supporter of protecting consumers and a staunch opponent of “too big to fail” financial institutions, is like him.

You can watch Kasich’s remarks here.

While Warren has zero interest in running for president, there is a night-and-day difference between John Kasich and Elizabeth Warren.

John Kasich has a decades-long track record of opposing labor unions, workers, the middle class, economic strength, and common sense. As a U.S. Representative, Kasich built a very conservative voting record, including demonizing welfare recipients and helping to enact Bill Clinton’s plan to gut the social safety net in this country. As a businessman, Kasich ran the Lehman Brothers office in Ohio’s largest city until Lehman Brothers went bankrupt and the American economy began to collapse. As Governor of Ohio, Kasich tried to bust Ohio’s public employee unions, but Ohioans firmly rejected his anti-worker and anti-middle class policies at the ballot.

Elizabeth Warren, on the other hand, is a champion of the middle class, economic strength, and common sense. Warren, who is the Paul Wellstone of our generation, has fought for more regulations on our nation’s financial institutions in an attempt to prevent another economic collapse like the Great Recession. Warren understands how income inequality, in which the wealthiest few percent of people in this country have the vast majority of the country’s wealth, is hurting our economy and destroying what little of our country’s middle class remains. Warren has also stood up to members of both major parties in this country in opposition to free-trade deals that undermine our nation’s sovereignty, such as the proposed Trans-Pacific Partnership (TPP).

John Kasich is nothing like Elizabeth Warren, and he should quit trying to take credit for Warren’s work to make America a better place to live.