Category Archives: Uncategorized

By Pam Martens: October 23, 2012  Yesterday, a reporter at a mainstream media outlet ran the following sentence in her coverage of Greg Smith, the Goldman Sachs Vice President who resigned in March via an oped in the New York Times charging the firm with a corrupt environment: “Smith is the first former employee to write a critical account of his career at New York-based Goldman Sachs …”  I wrote to the reporter and the editor of the piece requesting a correction, alerting them that a highly respected former managing director of Goldman Sachs, Nomi Prins, had specifically attributed leaving a 15-year career on Wall Street to one firm’s hubris — Goldman Sachs.  I included this passage from Prins’ 2004 book, Other People’s Money: The Corporate Mugging of America: “When I left Wall Street, at the height of a wave of scandals uncovering scores of massively destructive deceptions, my choice … Continue reading →

By Pam Martens: October 22, 2012  On April 5, 2010, Rolling Stone’s Matt Taibbi famously depicted Goldman Sachs as a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”  But if last week’s performance by its human relations department is any guide, the great vampire squid is flailing around in quicksand. No one in the legal or HR department at Goldman Sachs has apparently ever heard the phrase, if you’re in a hole, stop digging.  With Goldman whistleblower Greg Smith’s book, Why I Left Goldman Sachs, set to launch today and his highly anticipated appearance last night on CBS News’ 60-Minutes (typically watched by 13 million viewers), one would have expected Goldman to hire a sophisticated crisis management firm imbued with some tiny inkling of just how repugnant it and its colleagues on Wall Street are to the average … Continue reading →

By Pam Martens: October 19, 2012 As we reported earlier today, Colin Small, a man linked to the Republican National Committee, was arrested yesterday in Virginia for tossing completed voter registration forms into a dumpster.  The arrest comes on the heels of growing claims of voter registration fraud carried out by firms tied to Nathan Sproul.  Small was previously employed by Sproul’s firm, Strategic Allied Consulting, until it was terminated by the RNC at the end of last month, according to news reports. This afternoon, three ranking Democrats in Congress issued the following letter to Reince Priebus, Chair of the RNC, demanding answers regarding the RNC’s relationship with Sproul. Separately, Elections Subcommittee Ranking Member Charles A. Gonzalez wrote to the Virginia State Board of Elections to ask how it would handle further cases of potential voter disfranchisement as the scandal there continues to unfold. ~ ~ ~  October 18, 2012  Reince Priebus, Chairman Republican National Committee 310 First Street, … Continue reading →

By Pam Martens: October 19, 2012  A Sacramento law firm that touts its sophistication in campaign finance matters has been linked to companies secretly operated by Nathan Sproul to register voters.  Sproul’s operation is under investigation in Florida and by members of Congress for voter registration fraud, including registering dead people, forging signatures, falsifying addresses, and changing party affiliations.  Yesterday, a former employee was arrested in Virginia for tossing completed voter registrations into a dumpster, as reported by Joseph Tanfani at the Los Angeles Times.  Charles H. Bell, Jr. and Thomas W. Hiltachk, founded the law firm now known as Bell, McAndrews & Hiltachk in 1991.  It bills itself as a leader in campaign finance and regularly brings election law matters before the Federal Election Commission and Appellate Courts.  Bell is currently General Counsel to the California Republican Party, serving in that position since 1999.  He also held that position from … Continue reading →

By Pam Martens: October 18, 2012 The landmark 2010 Citizens United decision at the U.S. Supreme Court, effectively ending democracy as we know it, made it legal for advocacy groups to accept unlimited funds from secret donors while openly campaigning for a candidate.  Super PACs can now also accept unlimited sums from a single donor and spend every dime on attack ads against an opponent, providing they keep their activities separate from the candidate’s campaign. What has evolved from the Citizens United decision is an incestuous world where campaign rules matter little to the masters of the universe. The pro-Romney super Pac, Restore Our Future, has raked in $96,667,002 in this campaign cycle according to a recent filing at the Federal Election Commission. Almost half of that has sluiced out the back door to the ad buying firm of Mentzer Media.  Mentzer Media is the firm that placed over $18 million in ads attacking … Continue reading →

By Pam Martens: October 17, 2012  Despite how one feels about President Obama’s policies, he is still the President and Commander in Chief of our Nation.  In public, televised settings that will be transmitted around the globe, he should be addressed with respect.  In last night’s debate, Governor Romney gave the appearance that he has, in his mind, already become the President.  He spoke rudely to President Obama, reprimanding him as one might speak to a child: “You’ll get your chance in a moment. I’m still speaking.”  As we’ve worried aloud before, Mitt Romney seems to have a mean streak.  In an increasingly volatile world, diplomacy and measured words from our President are more important than ever before.  Which leads us to another concern: Mitt Romney’s hostile absorption with the Chinese.  In both his first and second debate,  Romney seemed hell bent on demonizing China from a public stage — versus quiet, private … Continue reading →

By Pam Martens: October 16, 2012  (1) Mr. President, both Ron Ruskind and Sheila Bair have written books that suggest that your Treasury Secretary, Tim Geithner, is a tool of Wall Street and, specifically, Citigroup. Mr. Suskind indicated that you had instructed Mr. Geithner to unwind Citigroup and he ignored your order.  Will you tell Americans once and for all if that is true, and if it is, why the President of the United States would tolerate insubordination from his Treasury Secretary.  (2) Governor Romney, you and your running mate, Paul Ryan, believe we have too much government: too many governmental controls in business, too many government entitlement programs.  But when it comes to women’s bodies and abortion, you advocate letting the government control. Can you explain the seeming dichotomy of your logic and, also, why it would be humane to bring unwanted children into a country where one in every five … Continue reading →

By Pam Martens: October 15, 2012 A little over a month ago, I went to the web site of the Koch Industries roster of their version of “facts,” and stumbled upon, completely by accident, the billionaire brothers’ wholesale attack on Robert Greenwald, the filmmaker who released the documentary Koch Brothers Exposed earlier this year.  For the balance of the day, wherever I went on the internet, various versions of Koch ads popped up, berating Greenwald and his film.  I felt like I was being stalked. According to a techie friend, I had picked up a cookie at the Koch Industries web site and it was using that cookie to follow me around and attempt to brainwash me against Robert Greenwald and his film.  I had to erase all my cookies to stop this stalking. If you think this is over-the-top creepy, you obviously have not yet read the article in the New … Continue reading →

By Pam Martens: October 12, 2012 Watching the Presidential and Vice Presidential debates, it’s easy to get caught up in personality over substance, rhetoric over reality.  The reality check is to remind ourselves what industry is giving massive, lopsided support to the Romney/Ryan ticket: Wall Street.  According to the Center for Responsive Politics, the top five funders of Romney’s campaign are all Wall Street firms.  The PACs, employees and their immediate family members have given the following to the Romney campaign: Goldman Sachs – $891,140; Bank of America (which owns Merrill Lynch) — $668,139; JPMorgan Chase — $663,219; Morgan Stanley — $649,847; Credit Suisse Group — $554,066.  No Wall Street firm is among the top five donors to the Obama campaign. This level of support suggests two things: Wall Street has been assured by the Romney/Ryan campaign that they will repeal the Dodd-Frank financial reform legislation and they will privatize Social Security.  … Continue reading →

By Pam Martens: October 11, 2012 If you thought the Republican Party had shut down the operations of Nathan Sproul, the man under investigation for running companies engaging in voter registration fraud in 11 counties in Florida and other states, you would be wrong.  A new batch of entities using Sproul’s office address and phone number have sprung up in at least five  states and they are heavily advertising on the internet for “political canvassers.” I called the number in one of the help wanted ads.  When a man returned my call, I did not mislead or say that I was seeking a job.  I simply asked for the name of the company offering the job.  His answer was: “We’re a non-partisan organization.”  I said but I’d like to know the actual name of the company. I got another marketing pitch.  When I asked the question for the third time, … Continue reading →