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Goldman Sachs was President Obama’s number-one private campaign contributor. Hank Paulson, U.S. Treasury Secretary (2006-2009) was CEO of Goldman Sachs and was worth $700 million when George W. Bush appointed him to his Cabinet. Paulson then put Edward M. Liddy, a Goldman Sachs director, in charge of AIG and gave AIG $85 billion. For more names of Goldman troopers in the Executive Branch, see “The Guys from Government Sachs” NY Times, Oct. 17, 2008.
In January 2011, Obama named William Daley, vice chairman at JPMorgan Chase, to be his new chief of staff — the man who controls who sees the President. An SEC filing shows that Daley owns $7.7 million worth of stock (175,678 shares) in Chase, a $2.1 trillion behemoth and the nation’s second-largest bank. Daley headed Chase’s Corporate Responsibility division, which included oversight of the firm’s lobbyists and relations with government officials. With Wall Street lobbyists patrolling the Oval Office, we rest assured that the President is in good company.