There can be no doubt the charges by the SEC against Goldman Sachs (NYSE:GS) have been waiting in the wings as a political tool to use at the right time to promote the agenda of the Obama Administration, which has been tottering on the verge of extinction as it attempts to ram through legislation against the will of the American people, creating unimaginable deficits our children and grandchildren will have to pay for, unless it’s stopped.
Don’t think there is anything else to the timing of the charges against Goldman Sachs, as it has been known for some time about the 2007 actions which led to these charges. It all has to do with keeping it under wraps as a tool to use to tap into the anger of the public at Goldman Sachs, which the government and mainstream media have decided to use as the figurehead of excess and poor business practices, while attempting to distance themselves (the government) from their culpability in the housing and economic collapse.
The timing of the charges is a cynical attempt to put pressure on lawmakers to pass financial regulations which will result in more control by the government over the private sector, which all of this is about. Make no mistake about it, there is nothing else to this, and the behavior of Goldman Sachs in setting themselves up as the bad guy in all of this is well deserved, as they’ve put on a front of arrogance and made ridiculous responses to their role in all of this. Now the public focuses on them as the poster child of excess and greed in the financial sector, even though they really haven’t done anything much different than any other large financial company.
So why is this such a big deal then? Let’s face it, Obama and the Democrats are getting clobbered, and face getting demolished in the upcoming elections. There is little they’ve done that has courted favor with the American people, and nothing they represent which the average American stands for. That’s why Obama is so unpopular.
But look at this situation, which is the last straw for Obama and his pals to try to gain a hold on the hearts and minds of ordinary Americans to position himself as a defender of the people.
This is perfect as far as it relates to the uproar and outrage of those who are angered over what Obama and the Democrats did in bailing out these huge banks, and other sectors like the American auto industry, which could no longer compete with better-run foreign companies operating in the U.S.
What they will attempt to do is take the attention off of their outrageous actions and place the focus on the publicly-hated Goldman Sachs. It’s as simple as that. I also foresee them attempting to drag this out until the November elections, as time is running out as to what else Obama can do in that short of time which will turn the tide for him and his party.
I’m sure this is his final hurrah before the elections, and he and others will try to keep this as a huge issue before the people, even though it is something from three years ago sitting on the sidelines waiting to be used as a political tool at the right time, not as concern over how the trades could have affected other investors.
Like the charges three years after the fact, I’m looking for a lot of things that won’t make sense in this case, and possibly more drama from potential participants in the case on both sides of the issue. Just listen to Obama and those in his administration and what they say concerning the case, and also to the response of Goldman Sachs to them. That will tell more of what is behind charging Goldman at this time than anything else.
What we’ll see for sure is the Obama administration tie this into financial regulations which are being resisted by many lawmakers now.
Obama needs a win the people approve of. Even though he supposedly won on health-care, he in fact lost (politically), and people will be enraged about that until November when they vent their wrath after having it rammed down their throats, even though the majority of Americans opposed it.
What better way to attempt to curry favor and time this to play out in the media before the elections, then to attack Goldman Sachs. It couldn’t be a more perfect story and opportunity, the reason it can’t be trusted as being considered a real concern by Obama and the SEC, as the story is just too good, but also too old, to be anything but a script written long ago for Obama to play to the ultimate box office: the American people.
