The New York Times has a terrific front-page piece on the close ties between Mitt Romney and Goldman Sachs. And, of course, it makes perfect sense that "Mr. 1%" would be joined at the hip with the financial institution that presided over the 2008 financial collapse. So far, the NYTImes reports, Goldman employees have contributed close to half a $million to the Romney for President campaign.
The NYTimes piece doesn't mention Deutsche Bank, but the Huffington Post has an interesting data base on contributions by Deutsche employees to the Romney campaign. Clearly, the managing directors and investment bankers at DB are trying to play catch-up to their big brother Goldman. Recently, Barry Bausano, a DB senior executive, hosted a "posh fund-raising event" for Mitt Romney in New York City.
Why would officials and employees of Deutsche Bank donate money to one of the wealthiest men ever to seek higher office? Simple: Deutsche is seeking the co-manager slot behind Goldman Sachs to manage the auctioning-off of America should Mitt Romney win the presidency. Think of the fees involved in privatization schemes, outsourcing transactions, and securitization of what remains of the American dream. Goldman alone is not big enough to handle the dismantling of Social Security and the establishment of private retirement accounts invested in risky securities.
Certainly, Deutsche Bank also wants to keep its title as America's Foreclosure King as millions more homeowners are forced from their properties. It was music to the ears of DB bankers when Mitt Romney attacked the Obama administration for intervening on behalf of homeowners.
“Don’t try to stop the foreclosure process,” Romney said, “Let it run its course and hit the bottom.”
But the number one reason DB and every other investment banker, hedge fund manager, and private equity investor is backing Mitt Romney is that he will protect the "carried interest" provision in the US tax code that ensures that they and their leader Mitt Romney pay less then half the percentage of tax on their income as bus drivers, public school teachers, and the rest of us poor slobs in the "99%".
4 comments
I have hated Mitt Romney from the first that I began reading the putrid articles supporting him. It began to seem like pure scatology or even Beatnik scat, like just random words in meaningless order with the name Romney thrown in, like “Mitt Romney me nacho yesterday burrito.” But what can you expect from a Masshole. I am convinced that some other power decides who is president and controls the mindless masses to vote.
michijo – “Romney scat” – I like it!
Yes, I like the fact that scat also refers to feces! But it is troublesome to find out that banks and oil companies fund presidential campaigns. I personally dont trust Obama either, as he received so much money from British Petroleum. Though to his credit, you literally cannot become president without BP!
It is wonderful what’s coming out about Romney. With the huge amount of money his superpacs have, it is still going to be hard to defeat him, but I’m sure he will be defeated.