Thursday, July 02, 2009

The fourth branch of the U.S. Government

Most people assume we have three branches of government: The Judicial: the Supreme Court - The Executive: the President - The Legislative: Congress.

Almost unnoticed by most Americans, the US Federal Government introduced a fourth branch to its political structure in 2006.

Who is entirely devoted to dealing with the US’s fiscal house? Some make the argument that a bunch of greedy crooks were appointed, intent on stealing as much of the public’s money as possible with no consequences whatsoever. And Goldman Sachs provided most of the lead characters: Hank Paulson (former Treasury Secretary), John Thain, (former CEO of Merrill Lynch), Robert Rubin (the Chairman of Citigroup), Robert Steel (the head of Wachovia), Ed Liddy (who Paulson put in charge of the nationalized AIG), Mark Patterson (the current Treasury Chief of Staff), Neel Kashkari, (the guy in charge of allocating TARP funds) and let’s not forget Treasury Secretary Tim Geithner.

For details on this fourth element of government, see Rolling Stone article “The Great American Bubble Machine” by Matt Taibbi.

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