Saturday, October 17, 2009

My WTF Moment!

As I read the news that the Securities Exchange Commission has appointed a 29 year old former Goldman Sachs employee to chief of its enforcement division, my temper boiled over. Now I have no problem with his age but it seems to me that the Treasury department and the SEC is increasingly becoming a place for Goldman Sachs employees.
When the Treasury Secretary, Tim Geithner talks to his select friends on Wall Street more often than he does other banks and investment houses it just shows the control firms like Goldman Sachs, JP Morgan Chase and Citigroup have on Washington and on the Treasury Department itself.
What we really need is someone like Harvard professor Elizabeth Warren who oversees the TARP program. She is a voice for the middle class and the consumer. She is for Consumer Protection and is not afraid to speak out. Why can't the people in power recognize the need to have someone like Warren in a position of power who will represent the people. Instead we hire more and more of the employees of firms like Goldman Sachs who surely are tainted by that association and will not truly serve the people.