Grab Some Popcorn and Enjoy The Goldman Sachs Show

There is an old saying that “politics is theater for the ugly.” Whether you believe this or not, get ready for some real ugly political theater. Our mainstream media would like for you to grab some popcorn, sit back and watch their presentation of congressional hearings starring Senate Democrats as the heroes, Goldman Sachs executives as the villains and the Republicans as their evil sidekicks. You’re probably thinking that you’ve seen this movie before and you probably have…several times. The directors want you to believe that the heroic Democrats are out to bring justice to those greedy Wall Street executives who purposely destroyed the economy so that the innocent people of the land will be subjected to financial ruin and removal from their homes. In reality, you will find that these real-life actors are just like real actors, they work together in order to put on a quality production.

It’s no secret that the Democrats have had their sight on reforming the financial industry for some time. However timing is everything. In politics, you usually need some type of unfortunate incident to convince the public that major action needs to be taken. In this case the Democrats used Securities and Exchange Commission investigation of Goldman Sachs as a means to justify their longtime goal of “reforming” Wall Street. This is what Rahm Emanuel meant when he said a “crisis provides the opportunity for us to do things that you could not do before.” Their crusades allow them to use their power to investigate (and too often politicize private matters) in order to enhance their political careers, without consideration of the damage to their victims. They will move on to the next issue once they finish, and try to convince you that the timing of their crusade is coincidental.

The American people shouldn’t get too consumed with the dog and pony show. The Democrats are good at theatrics. You can expect them to publicly humiliate the executives and the GOP as their enablers in order to perpetuate their myth as the protectors of the little guy. However, the Democrats face a dilemma because the big guys (and corporations) they are publicly humiliating are some of their biggest campaign donors. In private, things are different. The dirty little secret is that it costs millions to win and hold federal seats and run political operations. Democrats use their bully pulpit to position the GOP as the enablers of Wall Street’s abuses but the truth is Democrats get much more money from Goldman Sachs than Republicans.

According to figures dating back to 1990, Goldman Sachs’ PAC and employees have consistently contributed more money to Democratic rather than Republican candidates for federal office. In the 2008 election, three out of every four dollars contributed by Goldman Sachs went to Democrats. The bank’s PAC and employees donated $994,795 to Obama in 2007 and 2008.

Beware when politicians make a big stink in public about a broad topic, because they’re also probably making exceptions behind closed doors. How do they decide who gets exceptions? It usually depends on how much money you’re willing to pay or how many votes you can deliver. These exceptions is how unions were exempted from the Cadillac tax in the health care law. This is why President Obama enacted a policy requiring federal agencies to use only unionized construction firms. Even mega-wealthy Warren Buffett is personally lobbying for Berkshire Hathaway Inc. to be exempted (pushed by Nebraska Sen. Ben Nelson) from certain measures in the Wall Street overhaul. How many politicians do you think will tell Buffett that he is no different than anyone else?

The American people should really look beyond the theatrics and realize that things are never what they seem. Americans should always follow the money and realize that quid pro quo is alive and well. If you don’t believe me, try and get a meeting with President Obama. Union leader Andy Stern met with him 22 times in his first six months of office. Why don’t you try to get just one? Try getting a meeting with your Senator or get him to push a bill you wrote.

Don’t shed any tears for the executives at Goldman Sachs. They have made big investments in the Democrats because of situations like this. Plus the Democrats will have tough elections this fall. When the curtain falls the Democrats plan on keeping their Goldman Sachs cash flowing, and Goldman Sachs plan on standing tall when the financial overhaul brings other firms to their knees.

Andre Harper is the founder and president of The Knowledge Movement, LLC and author of Political Emancipation: Observations from a Black Man Who Rejected Liberal Indoctrination. He can be reached at www.AndreHarper.com.