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January 20, 2011

Who’s Who at Hu’s Dinner? (Hint: You Can Bank On It.)

That was then…

And, this was Mr. Blankfein with his wife, Laura, last night at the White House State Dinner for China’s President Hu.

Also shining was America’s “least hated” banker, Jamie Dimon of JP Morgan Chase, with his wife Judith, both looking like a million.

Also in attendance was John Thornton, president of HSBC.

As part of Team Obama’s new love affair with Wall Street, the bankers — who, at one point, would hardly come to the phone — are now on the inside.  Most notable and symbolic, last evening, was the presence of Goldman’s Lloyd Blankfein. Apparently Lloyd, who was Obama’s public enemy number #1 following the meltdown, has won the face off.

(photo 1: Jim Young/Reuters. caption: Protestors hold up signs as Goldman Sachs Chairman and CEO Lloyd Blankfein prepares to testify at the Senate Homeland Security and Governmental Affairs Investigations Subcommittee hearing on “Wall Street and the Financial Crisis: The Role of Investment Banks” on Capitol Hill in Washington, in this April 27, 2010 file photo. Goldman Sachs Group Inc on July 15, 2010 agreed to settle civil fraud charges over how it marketed a subprime mortgage product, paying the the third largest corporate settlement ever with the Securities and Exchange Commission at $550 million, and ending a months-long negotiation that rattled the bank’s clients and weighed on its share price. photo 2: Jonathan Ernst/Reuters. caption: Lloyd Blankfein (R) of Goldman Sachs and his wife Laura arrive for the state dinner hosted by U.S. President Barack Obama and first lady Michelle Obama for President of China Hu Jintao at the White House in Washington, January 19, 2011.   photo 3: Jonathan Ernst/Reuters. caption: Jamie Dimon of JP Morgan Chase and his wife Judith arrive for the state dinner hosted by U.S. President Barack Obama and first lady Michelle Obama for President of China Hu Jintao at the White House in Washington, January 19, 2011.   photo 4: Andrew Harrer/Bloomberg via Getty Images. caption: John Thornton, president of HSBC Holdings Plc North America, and his wife Margaret, arrive for a state dinner hosted by U.S. President Barack Obama and first lady Michelle Obama, for Chinese President Hu Jintao, at the White House in Washington, D.C., U.S, on Wednesday, Jan. 19, 2011. Obama said the U.S. and China both reap substantial benefits from cooperation on economic and strategic issues even as friction remains over currency, trade and human rights.)


  • Gasho

    Where is the breaking point? If they really are on the inside of the political power structure as well as at the top of the financial and business world — there’s no check on their power and greed. Their ability to amass wealth now has no limits and they’ll suck up an unbounded portion. At what point does the system break down under it’s own weight? If they end up with all the money, what is it worth? When do we start abandoning THEIR system and figure out how to rebuild one that is owned by the people?

    WE THE PEOPLE need to re-assert ourselves somehow. This country is supposed to be ours. It’s not feeling that way. The financial executives are to Obama what the oil/energy guys were to Cheney.

    I thought Obama would bring some change. Now I’m pissed. Do I want to throw him out? Kinda, but then I realize – it’s just another schmuck who’s gonna take his place and we’ll just have another kind of corruption and elite class that might be just as bad or worse.

    If our laws aren’t going to protect us (now that they’ve been abandoned), I think our Constitutional system (which I admire greatly) has met it’s match. (RIP 1776 – 2000)

  • momly

    The government needs money. The banks have it.

  • omen

    tim & carole geithner looking happy for a change. perhaps being fluent in chinese gave tim some added confidence.

  • http://photo-muse.blogspot.com/ Tim a

    This makes me think of Gary Steyngart’s (sic) recent book Super Sad True Love Story where the Yuan has become the only currency of value in the US and the White House fetes the Chairman of China’s central bank, who now calls the shots…

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