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Back when Obama was a freshman candidate for Senator he was selected to be keynote speaker for the Democratic national convention in 2004. A nobody from Chicago was plucked from midair and cast into the most important slot in the convention. How he would up there remains to be revealed.
Just a little over one year after being elected as a junior senator, in 2006 Obama was the featured guest before a private gathering of the Goldman Sachs executives in Chicago, an honor unheard of for someone that politically insignificant, speaking before the most powerful financial firm on Wall Street and one of the most powerful in the world. This was quietly reported in Bloomberg News.
It was the launch of his presidential campaign and Goldman executives soon gave over $800,000 to jump start the Obama presidential bid along with collecting millions of dollars from their fellow Wall Street firms and clients. Oh yes, Robert Rubin became the Obama economic expert, a former CEO of Goldman Sachs. Billionaire Warren Buffet became his most trusted economic advisor, a man who was to invest $5 billion in Goldman Sachs in the height of the economic meltdown. Yet Buffet was also a personal guest of Lord Rothschild at a private conference at his English estate.
The story only gets better. On May 3, 2007, Barack Obama attended an event at the Museum of Modern Art in Manhattan that was not on his public schedule and is only now surfacing. The exclusive private dinner was for Goldman Sachs traders and featured a discussion on issues by Obama moderated for the Wall Street firm by NBC's Tom Brokaw. Once again the circumstances are strange as a year later Brokaw would be moderating the second presidential debate between Obama and McCain and the economy and Wall Street were the main points of discussion. Of course the debate commission and McCain were unaware that Obama and Brokaw had already held a practice session the year earlier.
Then comes the financial meltdown which can be traced back to a couple of major events. The first major change to the regulatory framework that opened the door to Enron and the sub-prime crisis occurred in 1991, when Goldman Sachs, through a subsidiary called J. Aron, argued that even though it was an investment bank it should be granted the same exemption given to commercial traders in the commodity markets because it was in the business of buying commodities as a middleman. It was granted by the CFTC.
A second turning point came when Congress passed the Commodity Futures Modernization Act of 2000, that formally allowed investors to trade energy commodities on private electronic platforms outside the purview of regulators. Critics have called this piece of legislation the "Enron loophole," saying Enron played a role in crafting it. In the months after the act was passed, private electronic trading platforms sprang up across the country, challenging the dominance of NYMEX.
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Do we really know anything about the long term relationship between Obama and Goldman Sachs other than their massive fund raising for him? Since he has been secretly guided and financed by Goldman people from the very beginning of his presidential campaign were they influential in his economic platform? Obama never questioned the role of Goldman in the sub-prime fiasco nor in manipulating the oil futures prices. When Goldman specialists tried to drive the price of oil up to $200 a barrel this year Obama never said a word.
Long before this time the Goldman Sachs Foundation had quietly channeled funds to Colin Powell's new group, America's Promise and Powell himself was collecting honorariums from $50,000 to $100,000 for speaking to various groups including Goldman sponsored events. At some point between the time he was Chairman of the Joint Chiefs of Staff, then left government, only to come back as Bush Secretary of State, Powell acquired between $1 million and $5 million of stock in giant defense contractor General Dynamics, a firm in which the Roshschilds have extensive ownership. Powell eventually would be converted from a McCain financial contributor and friend to endorser of Obama in less than a year.
As for the Rothschilds and McCain, it was not until this year that they held a fund raiser for him in London hosted by Lord Jacob Rothschild and his son, Nathaniel Rothschild in the posh London Spencer House on March 28, 2008. As I said at the beginning, the Rothschilds are the oldest, biggest and most powerful of all financial houses and have long chosen to remain in the background while other firms fronted their interests.
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In spite of being foreign based the Rothschilds have been one of the chief beneficiaries of the economic crisis in America as J.P. Morgan and Barclays, firms with significant equity held by the Rothschilds, were able to gobble up Bear Stearns, Lehman Brothers and Washington Mutual in sweetheart deals for a fraction of their asset values in the midst of the crisis.
So what control do we really have over the election, over the president and over the Congress? We know control has been lost of the economy, of world trade and of international finance. Most government institutions seem to be operating at the whim and call of the financial giants. Can we expect more after this election? Is America for sale to the highest bidder and is Obama's $500 million campaign the highest bid? All this bodes ill for the liberal, left wing groups and unions rallying around Obama as they may very well be discarded when they have served the purpose of winning the elections.
