I’m pleased to announce that Dr. Tom Borelli has joined our communications team for the www.GoldmanSachs666.com project. Tom will serve as Director of Communications, leading a team to present our issues through interviews and presentations. We will be announcing additional Team Members in the next few days. We now have three active Teams of volunteers working on a variety of critical issues, and we will be rolling out a new website very soon.
Tom is uniquely qualified to communicate the issues surrounding Goldman Sachs. As a portfolio manager for the Free Enterprise Action Fund – a shareholder activist mutual fund – Tom has a history of challenging CEOs including former Goldman Sachs CEO Hank Paulson.
At the 2006 Goldman Sachs shareholder meeting, Tom accused Paulson of a conflict of interest stemming from the company’s donation of a huge tract of land to a non-profit where Paulson’s son served as an advisor. Subsequently, Tom’s organization filed a complaint with the Securities and Exchange Commission and submitted testimony opposing Paulson’s nomination for Treasury Secretary.
More recently, Tom received notoriety when Walt Disney CEO Bob Iger launched the F-Bomb at him following his presentation of a shareholder proposal at the company’s annual meeting. As a frequent critic of General Electric, Tom has been interviewed on numerous TV and radio programs discussing the failed leadership of CEO Jeff Immelt.
The Free Enterprise Action Fund has shareholder proposals in numerous proxy statements this year including, Citi, ConocoPhillips, Caterpillar, Exelon, and JPMorgan Chase.
Tom is also a Senior Fellow at the National Center for Public Policy Research where he is the co-director of the Free Enterprise Project. In this role, Tom writes commentaries on the consequences of CEO decisions on public policy. He also manages the website www.FreeEnterpriser.com and is a guest columnist with www.TownHall.com, The D.C. Examiner and a frequent panelist on Fox News’ Strategy Room.
Previously, Tom worked in the corporate world for over 25 years where he obtained firsthand experience with the inner workings of corporations and the myriad of influences on CEO decisions.
Finally, Tom has extensive experience in government affairs. He served as Science Fellow for the U.S. House of Representatives' Committee on Science, Space and Technology during the 100th Congress and he testified on the harmful effects of global warming regulations on our economy and liberty before a Senate Committee.
We are thrilled to have someone of Tom’s caliber on our communications team. Watch for additional announcements and our new website.
CONTACT INFO for Media Requests:
Tom Borelli, Ph.D
Email: Tom@GoldmanSachs666.com
Phone: (914) 793-6827
Thursday, April 16, 2009
Will Tim Geithner Set Goldman Sachs Free?
Editor’s Note: Goldman wants to pay back its $10 billion TARP loan and therefore avoid government restrictions. But by electing to be a “systematically important financial firm” to avail itself of government guarantees as well as using the Federal Deposit Insurance Corporation to back $28 billion in bonds it seems Goldman wants to have it cake and eat it. Today’s Op Ed piece in the Financial Times highlights what they are trying to do. – by RG
“Don’t set Goldman Sachs free, Mr Geithner”
By John Gapper
Published: April 15 2009 in the Financial Times
Should Tim Geithner let Lloyd Blankfein escape?
Mr Blankfein, the chairman and chief executive of Goldman Sachs, is eager for his institution to become the first big bank to shake off the stifling embrace of the US government. Mr Geithner, the US Treasury secretary, must decide whether to let him.
. . .
There are obvious political risks in letting Goldman roam free while other banks remain bound by the troubled asset relief programme (Tarp). It would exacerbate suspicions that Goldman, with its long history of producing Treasury secretaries, gets special treatment. These were not soothed by the decision to pay off all Goldman’s credit default swaps with American International Group, now controlled by the state.
To read the full article - Click Here
“Don’t set Goldman Sachs free, Mr Geithner”
By John Gapper
Published: April 15 2009 in the Financial Times
Should Tim Geithner let Lloyd Blankfein escape?
Mr Blankfein, the chairman and chief executive of Goldman Sachs, is eager for his institution to become the first big bank to shake off the stifling embrace of the US government. Mr Geithner, the US Treasury secretary, must decide whether to let him.
. . .
There are obvious political risks in letting Goldman roam free while other banks remain bound by the troubled asset relief programme (Tarp). It would exacerbate suspicions that Goldman, with its long history of producing Treasury secretaries, gets special treatment. These were not soothed by the decision to pay off all Goldman’s credit default swaps with American International Group, now controlled by the state.
To read the full article - Click Here
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