Obama picks Goldman Sachs exec for ambassador to Canada

[Joe Shlabotnik]

Source: CBC

U.S. President Barack Obama has selected a partner at the investment firm of Goldman Sachs in Chicago to be the new U.S. ambassador to Canada, CBC News has learned.

..... If he is approved, Heyman would replace David Jacobson, who has held the position since 2009. Jacobson is also from Chicago.

Well known as a high-level fundraiser to Barack Obama, Heyman and his wife Vicki, also a fundraiser, raised more than $1 million for Obama and were on his national finance committee.

Heyman runs the private wealth fund at Goldman Sachs and his areas of responsibility include parts of Canada.

Read more: http://www.cbc.ca/news/politics/story/2013/04/03/pol-us-ambassador-to-canada-obama.html

---

[L0oniX]

1. What? Where's the usual gang of worshippers to rebutt this?

On the other hand ...hey Canada ...here ...have a little of what we are dealing with. O well ...I guess he could have selected someone from United Healthcare.

[forestpath]

8. Trying to find a bunch of links?

[City Lights]

56. LOL!

[Freddie Stubbs]

12. It has been common practice for many years for presidents to appoint political supporters to

ambassador positions, particularly to countries where we don't have stranied relations.

[bloomington-lib]

18. bullshits been going on for many years then

[Freddie Stubbs]

49. Correct

[L0oniX]

19. Over 1 million in contributions ...sort of a lobbyist thing.

Oh wait ...hrmm ...what was it Obama was saying about lobbyists in DC ...before he was elected. O yea of course it's not the same thing ...is it.

[Freddie Stubbs]

50. He will be working in the foreign Service, not regulating the financial sector

[bvar22]

29. Yep. Buying Political Appointments has been going on for a long time.

That is one reason why I voted for the guy promising "change".

Jokes on me , Hunh?

[Freddie Stubbs]

51. Did he ever promise to change the practice of appointing supporters as ambassadors?

Or are you just projecting your wishes?

[progressoid]

35. If by political support, you mean $$$$$.

And apparently common practice = change.

[Freddie Stubbs]

48. Did President Obama ever promise to change the way ambassadors are picked?

[progressoid]

55. "They have not funded my campaign. You have. They will not run my White House. You'll help me..."

"Make no mistake: We need to end an era in Washington where accountability has been absent, oversight has been overlooked, your tax dollars have been turned over to wealthy CEOs and the well-connected corporations,"

Obama said at an Oct. 1 campaign stop in Wisconsin. "You need leadership you can trust to work for you, not for the special interests who have had their thumb on the scale. And together, we will tell Washington, and their lobbyists, that their days of setting the agenda are over. They have not funded my campaign. You have. They will not run my White House. You'll help me run my White House."

[Freddie Stubbs]

58. Heyman is not a lobbyist

[progressoid]

59. Well, lets try this again.

No, he's not a lobbyist. But that's not the point and you know it. I was going to highlight the pertinent parts of the quotes that you conveniently ignored, or perhaps I could find another appropriate quote, but I doubt it would make any difference.

Actually, this appointment is pretty minor in comparison to the many Wall Street and corporate insiders that now have jobs in the administration. It's just damned disheartening and frustrating to see it happen again and again. Especially by our side.

While most of us work day to day to barely make ends meet, it business as usual in the Corporate States of America. The rich get richer and we're supposed to gleefully support it.

And now, I have to get back to work to try to make ends meet.

[OnyxCollie]

36. Genuflecting before their limited-edition, inaugural plate from the Franklin Mint. nt

[tblue]

37. Oh guy, that made me lol!

But these appointments make me crazy.

[L0oniX]

39. LMAO n/t

[longship]

2. Good ol' Government Sachs!

I thought we were rid of that when Hank Paulson left Treasury.

Apparently not.

[ForgoTheConsequence]

3. Lol.

I don't even know what to say anymore.




"It's a big club, and you ain't in it"

[bluedigger]

4. Monsanto must be running short of people...

[forestpath]

5. I guess Heyman got his money's worth then.

[L0oniX]

22. Same thing with the DC lobbyists ...kinda the same thing. n/t

[Posteritatis]

6. A step up from that Cellucci fuckhead awhile back, but still, ugh. (nt)

[OmahaBlueDog]

7. I'm assuming the goal here is to come up with a fair market takeover offer

Canada looks to be an outstanding takeover opportunity for the US. Hopefully Goldman will loan us the capital at attractive rates.

[azurnoir]

9. That last line in the OP

Heyman runs the private wealth fund at Goldman Sachs and his areas of responsibility include parts of Canada.

wouldn't or shouldn't that be a conflict of interest or does the fact that he will have to resign that position exonerate him?

[DFW]

11. There will probably be some "arm's length" agreement while he's in Ottawa

And his familiarity with the country will be put forth as justification for offering him the post.

[azurnoir]

14. well he's familar with Canada's finances anyway

still though in a way it reminds me of Cheney and Halliburton, just not bad or extreme

[DFW]

15. "necessary but not sufficient" as those old math multiple choice tests used to say

Canada is a huge trading partner, granted, but our ties with them involve huge environmental issues, immigration questions, border policies, NATO stuff, a huge range of things not directly concerned with investment banking. We need more than just a money guy for Canada, even one who is on our side.

[azurnoir]

16. True that but he's what we got anyway

[DFW]

23. I know. And he's probably better that what happened to us during the Cheneybush days

I was with Raymond at the Canadian Embassy residence in Paris when he told me about the new Cheneybush appointee as American Ambassador to France. He was some Texas hack who gave Cheneybush a ton of money. His wife was berating Raymond for not having a photo of himself and Bush on the piano in the reception room. Raymond patiently explained that he only had photos of himself and the heads of state who were in office when he was Canada's ambassador to their respective countries. The Bush ambassador's wife couldn't stand it that the only American president whose photo was on that piano was Bill Clinton, and was very vocal about it. And this is the kind of person the Republicans were having represent our country in France.

Cheneybush picked another contributor to be ambassador to the UK because the guy had horses and Bush heard that the Queen liked horses. NATO? The EU? Relations with and conduits to Muslim countries? Who cares about THAT stuff? This guy liked horses, whoopee! Ugh!!

[DFW]

10. Although I get the idea of rewarding major contributors with ambassadorial posts

I still wish we would stop the practice, and ESPECIALLY stop the practice of rewarding contributors with postings to major countries with whom we have huge important economic, military and political ties.

I think of the Canadian ambassador to the United States during Clinton's last term. His name is Raymond Chrétien, and he was the finest foreign service officer of ANY country I have ever met. I would have recruited him for us if I could have. Bright, well-versed in his craft, dedicated and not afraid to get his hands dirty. Raymond is retired now, but while he was ambassador to France, there was some epidemic outbreak in the former Zaire in Africa, where he had been ambassador years before. No matter. He left his cushy residence on the Faubourg St. Honoré (were THOSE some digs!!) and went back down to Africa to help with the stricken victims. Somehow, I don't see a Goldman Sachs guy doing that. Send him to be ambassador to Monaco or Liechtenstein or some such place, but not Canada, for Pete's sake. That's what we have a State Department for.

[tblue]

38. Well said.

Did not know about the previous ambassador. My gosh, how far we have fallen.

[DFW]

43. I don't even know who our ambassador to Canada was at the time

Because the small town newspaper my dad worked for is on the Canadian border, and my dad was their Washington correspondent, he had to meet with the Canadian ambassador at least once a week, and since he was closer to my age, we got to be friends. Raymond and his wife are both from Québec, although his wife is an Anglo. After thirty years in the Canadian Foreign Service, Raymond retired when his uncle retired as PM--a well-deserved rest. After his time in Washington was up, Raymond served one last post--as Canada's ambassador to France. Since that is just down the road from me, I used to see him in Paris on occasion, and was the only Anglo at his farewell party for Francophones--quite an honor, but boring as I didn't know anybody else there!

Maybe we do have people of his caliber in our foreign service, but if we do, we need them in posts like Ambassador to Canada, and all other major countries. When we sent people like Mike Mansfield (who was very knowledgeable about Japan already) and Walter Mondale as ambassador to Japan, the Japanese loved the gesture that we took them seriously. When Cheneybush sent his horse crony to the Court of St. James and that other clown to Paris, how do you think that went down in the respective countries? Shit like that matters a LOT when we start looking for allies in our foreign policy.

[Beacool]

54. I agree with tblue.

Very well said!!!

[msongs]

13. was that cash, check, or credit card? nt

[840high]

25. All three.

[Scuba]

17. Does he still get his bonus if he's not a regulator?

[Demo_Chris]

20. I, for one, welcome our corporate overlords. HAIL GOLDMAN SACKS!

[Newest Reality]

27. I must join you

and genuflect in all due humility to the GREAT BULGY WOBBLING GOLDMAN SACKS!

Praise this great head of the Nation!

And I promise to still pretend that the facade about all that "We the People" stuff is real and effective. Shhh! Best not talk too much about that lest the Fusion Center intercept me as a pre-crime thought criminal.

[Demo_Chris]

28. Amen.

[L0oniX]

40. I hope the crumbs are larger this year ...getting kinda hungry n/t

[limpyhobbler]

21. LOL I guess he couldn't find any available oil executives.

[polly7]

24. Oh, well isn't that just wonderful?!

[IMG][/IMG]

[L0oniX]

26. ...special. n/t

[MannyGoldstein]

30. Make no mistake... I'm saving a warmer one for you

Now Jamie... no, don't... those cufflinks are very nice, the secret service won't let that happen, and I don't even think they'd fit there. This isn't what you're thinking... it's just that Canada's pretty cold, I thought that your guys would want the next warm one. Just... just... please don't use those words, Sasha and Malia might hear them through the phone when you're shouting so loud. Yes, I am certainly keeping on top of the Elizabeth Warren thing..."

[just1voice]

31. Maybe he'll keep the corrupt Canadian housing bubble going?

http://www.theatlantic.com/business/archive/2013/01/the-biggest-housing-bubble-in-the-world-is-in-canada/272499/

---The Biggest Housing Bubble in the World Is in ... Canada?---

[Canuckistanian]

32. He'll be welcomed warmly by our Prime Minister

In fact, Harper will probably kneel and kiss his ring at the credential ceremony.

[demwing]

33. Ambassador to Canada?

that's full of rofl

[Carolina]

34. Monsanto, Goldmann-Sachs...

Obama continues to show his true colors (no pun intended)

He campaigns one way but surrounds himself with advisors, ambassadors, cabinet officers who are the antithesis of his campaign rhetoric.

He continues to disappoint and continues to prove who owns him.

[Beacool]

41. Goldman Sachs, the company that most likely caused the economic debacle??????

"Behind-the-scenes disputes over huge sums are common in banking, but the standoff between A.I.G. and Goldman would become one of the most momentous in Wall Street history. Well before the federal government bailed out A.I.G. in September 2008, Goldman’s demands for billions of dollars from the insurer helped put it in a precarious financial position by bleeding much-needed cash. That ultimately provoked the government to step in.

With taxpayer assistance to A.I.G. currently totaling $180 billion, regulatory and Congressional scrutiny of Goldman’s role in the insurer’s downfall is increasing. The Securities and Exchange Commission is examining the payment demands that a number of firms — most prominently Goldman — made during 2007 and 2008 as the mortgage market imploded.

The S.E.C. wants to know whether any of the demands improperly distressed the mortgage market, according to people briefed on the matter who requested anonymity because the inquiry was intended to be confidential.

In just the year before the A.I.G. bailout, Goldman collected more than $7 billion from A.I.G. And Goldman received billions more after the rescue. Though other banks also benefited, Goldman received more taxpayer money, $12.9 billion, than any other firm.

http://www.nytimes.com/2010/02/07/business/07goldman.html?pagewanted=all&_r=0

Screw Goldman Sachs!!!!

[Comrade_McKenzie]

42. As if an ambassador to Canada wields great power.

You Obama-hating goons crack me up.



And he's the President again, so that 1 million was well spent. Glad my President knows how to play the game.

[blkmusclmachine]

46. rah rah sis boom bah

[Celefin]

47. Enough power it seems to directly buy favours from the President

He's the President again, not 'your' President. You can't afford shares in Obama, others can.
The President promised to work towards changing this game - not to be a slick player.

I don't get how these viewpoints qualify as Obama hating.
It's system hating, if anything. Very few would complain if he hadn't campaigned on changing this system.
But then he might not have become the President in the first place... kind of a hen and egg problem.

Anyway, awarding ambassador or similar posts for favors dates back to Roman times.
And there are a lot of ancient Latin documents describing how this tradition is a very bad idea.
Might be an idea to change it after 2000 years?

[DeSwiss]

44. Last words heard in Greece just before their financial crisis:

Hi! I'm from Goldman, Sachs and I'm here to help!

- Sorry Canada.....

[font size=4]d[/font]

K&R

[blkmusclmachine]

45. Hope For Change!

(cuz you ain't gettin' any)

[magical thyme]

52. I'm so glad the President doesn't have to run in 2016. Otherwise he might be forced

to do the bidding of the 1% in order to keep himself in office.

Instead, now he can really start kicking some 1% butt.

Sorry, Canada. It was nice being friends with you.

[woo me with science]

53. Had enough yet?

Do we see that this is not a Red versus Blue problem anymore?

Ready to become the 99 percent yet?

[City Lights]

57. Same shit, different day. eom