Gensler is a nonentity, but his career is illustrative of the profound disconnect between government and those it purports to serve. He reaped the benefits of a typical immigrant success story, growing up in a working class family but going to an Ivy League school and then on to Wall Street, where he was a successful banker at Goldman Sachs.
But the lure of power was too much, and into government he went, no doubt eased by substantial contributions to the Democrat party. And like every budding fascist, he has latched onto the teats of power (sorry about that image) in the form of Elizabeth “Fauxahontas” Warren, who wields a terrifying amount of influence over the government’s regulatory apparatus.
Gensler just took the job as Securities and Exchange Commission chief. But people who have seen him in action for years as he served in various Treasury posts and as a commodities regulator in the Obama administration say his bureaucratic ambition knows no bounds. He’s thinking bigger than being the guy who runs what is essentially an investor-protection agency.
Yes, he is thinking about enacting every progressive wet dream with respect to evil banks and the stock market and all sorts of icky market-driven money-making possibilities that he enjoyed but wants to deny to others…especially those who are not connected in some way to the Leviathan. And what better way to do that than being the Secretary of The Treasury? Of course we should ignore his support for complex derivatives before he was against them. You remember derivatives? Those arcane financial instruments that contributed to the financial implosion in 2008?
But that is par for the course in the Deep StateTM. The results are meaningless…it is the process that is important, and in this case he was following the political winds by supporting them in 2000, the leading the charge against them eight years later.
But all of this is secondary to his lust for power that he will satisfy in any way possible. If that means helping to destroy the financial system that allowed him to be successful? Sure…why not! As long as he gains it matters not that it is at the expense of others. Which is pretty much the perfect description of the progressive deep state that has subsumed the political process into its own needs.
So if all goes according to his plan, Gary Gensler, a pumped up clerk with delusions of grandeur and the poster child for the Peter Principle will be Warren’s toady in exchange for support for his desire to be Secretary of The treasury. And that means doing what she bids, no matter its corrosive effects on the economy and the Constitution that both have sworn to protect.