The Clinton crime family’s cozy relationship with Wall Street has once again reared it’s head with a story that Hillary’s son in law scored backing for his hedge fund from Goldman Sachs big shots, including CEO Lloyd Blankfein himself. The powerful Wall Street based global investment bank occupies a very special place in modern American crony capitalism with it’s golden revolving door between Manhattan and imperial Washington and has been dubbed by some as “Government Sachs”.
It has become common practice for Wall Street high rollers to move from the private into the public sector in order to assume positions as the foxes tasked with guarding the hen house where they make sure that the game stays rigged before transitioning back to private industry with their pockets full of government contacts.
Obama’s first Treasury Secretary Timothy “Turbotax” Geithner was a former head of the banker friendly New York Fed and his replacement Jack Lew hailed from Citigroup. The onetime CFTC boss Gary Gensler – who was in charge of regulating derivatives markets – was a partner at Goldman Sachs and now heads up the financial arm of the Hillary Clinton campaign. The list is long and it’s notable that both of Obama’s top cops Eric Holder and Loretta Lynch had ties to the financial industry so good luck with any oversight. In Mr. Holder’s case he returned to his old job at the white shoe law firm where he worked on behalf of the banksters and other interests he was supposed to be policing as Attorney General. It’s not limited to which party is officially in power either, George W. Bush’s Treasury Secretary Hank Paulson was a former Goldman Sachs CEO as well and gave his old employer a helping hand during the 2008 market crash and subsequent bailout.
While Mrs. Clinton continues to face questions about her secret speeches to Goldman honchos and other Wall Street scammers, she now has another problem. According to reports, none other than Chelsea’s hubby Marc Mezvinsky appears to have received preferential treatment regarding a hedge fund that he was running that went el-busto in what is yet another damning indictment of the amorality of the Clintons and serves to underline who they truly represent.
The website The Intercept is reporting that “Hillary Clinton Won’t Say How Much Goldman Sachs CEO Invested With Her Son in Law”:
When Hillary Clinton’s son-in-law sought funding for his new hedge fund in 2011, he found financial backing from one of the biggest names on Wall Street: Goldman Sachs chief executive Lloyd Blankfein.
The fund, called Eaglevale Partners, was founded by Chelsea Clinton’s husband, Marc Mezvinsky, and two of his partners. Blankfein not only personally invested in the fund, but allowed his association with it to be used in the fund’s marketing.
The investment did not turn out to be a savvy business decision. Earlier this month, Mezvinsky was forced to shutter one of the investment vehicles he launched under Eaglevale, called Eaglevale Hellenic Opportunity, after losing 90 percent of its money betting on the Greek recovery. The flagship Eaglevale fund has also lost money, according to the New York Times.
There has been minimal reporting on the Blankfein investment in Eaglevale Partners, which is a private fund that faces few disclosure requirements. At a campaign rally in downtown San Francisco on Thursday, I attempted to ask Hillary Clinton if she knew the amount that Blankfein invested in her son-in-law’s fund.
After repeated attempts on the rope line, I asked the Clinton campaign traveling press secretary Nick Merrill, who said, “I don’t know, has it been reported?” and said he would get in touch with me over email. I sent the question but have not heard a response back.
The Clinton influence peddling machine is well oiled with Wall Street and corporate payola and if she ends up as POTUS a new wing would need to be added to the White House for all of the predators of high finance that will arrive in tow. Only in America could the same banks and figures largely responsible for blowing up the economy not only evade accountability but be rewarded for reckless gambling that destroyed the lives of millions. Yet today the too big to fail banks are bigger than ever as the mother of all stock market bubbles continues to inflate to epic proportion all thanks to greedy, amoral swine like the Clintons and their ilk.
More from The Intercept piece:
The decision for Blankfein to invest in Hillary Clinton’s son-in-law’s company is just one of many ways Goldman Sachs has used its wealth to forge a tight bond with the Clinton family. The company paid Hillary Clinton $675,000 in personal speaking fees, paid Bill Clinton $1,550,000 in personal speaking fees, and donated between $250,000 and $500,000 to the Clinton Foundation. At a time when Goldman Sachs directly lobbied Hillary Clinton’s State Department, the company routinely partnered with the Clinton Foundation for events, even convening a donor meeting for the foundation at the Goldman Sachs headquarters in Manhattan.
It would be foolish to believe that Mr. Blankfein isn’t expecting a quid pro quo for his support of Mr. Chelsea’s hedge fund – call it a return on investment. Perhaps he is angling for a gig as Secretary of the Treasury as a plum for his organization’s ongoing incestuous relationship with the Clintons, he wouldn’t be the first Goldman CEO to hold the position and barring a revolution he wouldn’t be the last either.
Originally Published at the Federalist Papers Project.