A failure in his job in recent years, Hormats and the Goldman team were forced to parachute its CEO into the US Treasury Secretary role, and hasn’t it been an interesting 18 months.

If this were boxing, I’d now throw in the towel. The US public is done like dinner.

The issue of Goldman Sachs being a US bank is laughable. Are Citigroup and JP Morgan US banks? Is the Hongkong and Shanghai Banking Corp (HSBC) really Chinese or is it British or neither? Are UBS and Credit Suisse any longer Swiss?

Canadians no longer use the names Royal Bank of Canada, Toronto Dominion, Canadian Imperial Bank of Commerce and Bank of Montreal. For several years these banks have been called RBC, TD, CIBC and BMO.

Branding by alphabet you say or coincidence? Neither. Just like Union Bank of Switzerland is now UBS, these banks now have no home. And neither do they have loyalties. They are global banks that work for whomever buys their shares. Hired gunslingers if you will.

Today comes word that Merrill Lynch (or is it really Goldman Sachs Jr?) has tapped Singapore for $5 billion, and given that, like others in HB&B will have to write off additional mega-billions in the current and the future quarters, this massive capital infusion (also called dilution) is not unexpected. We’re just now getting to understand that these HB&B no longer want to go to the private sector shareholder for their capital when they can find suckers running public funds. Probably bought-and-paid-for suckers who have been wined and dined and whatever by the likes of a Robt Hormats.

So, why do Americans presume that Hormats, or Paulson for that matter, work for the People. These bankers work for bonuses, and in the couple years prior to Henry Paulson joining the White House team, he was bonused many millions for the simple act of a few of his traders shorting US sub-prime debt, which in effect – think about this – cost Americans who borrowed money to buy a home to pay more in interest costs. Hormats and Paulson, then, have profited on the backs of hard-working Americans because they knew that many of them were getting Liar Loans from other bankers.

Why should anybody who cares about America listen to these people? Moreover, why would the Swiss, the Brits or the Canadians care a whit what any self-serving banker has to say? And therein lies the problem.

Bankers today have crossed the line to invade the public sector and the rape and pillage that is going on is incredible. It is not so bad that Goldman Sachs has to run the central bank trading operations of the US, Canada and Italy, and the World Bank, now they have helped (sic) governments set up these Sovereign Wealth Funds. But who is getting wealthier?

The public had better start questioning why their elected representatives are making these questionable decisions to vest the power of the public purse into the hands of bankers. They had better think quick because there isn’t much time left.