Quietly and almost unnoticed by most Americans, the US Federal Government introduced a fourth branch to its political structure in 2006. As you know we already had three branches, they are:
The Judicial: the Supreme Court
The Executive: the President
The Legislative: Congress
This pretty much has us covered in terms of political strategy… but what about financial issues? Everyone knows Congress has no clue how to allocate capital. And the Executive Branch doesn’t exactly have a great track record when it comes to financial matters either (we’ve run a deficit virtually every year since 1970).
Shouldn’t we have a Financial Branch of government? A group of fiscal experts entirely devoted to keeping the US’s fiscal house in order?
Well, we actually do, but instead of installing a branch of smart, genuine financiers interested in benefiting the American people, we installed a bunch of greedy crooks intent on stealing as much of the public’s money as possible with no consequences what so ever.
Ladies and Gentleman, I present to you America’s Financial Branch of the Government: Goldman Sachs.
Trying to detail exactly how integrated Goldman has become to the Federal Government would be like trying to track the peanut butter swirls in Ben and Jerry’s Chocolate Peanut Butter Swirl ice cream. Indeed, with the exception of Ben Bernanke and a few other officials, Goldman Sachs provided all the lead characters for the Tragic Comedy that is our latest Financial Crisis.
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