Stacy Summary: If you read through the entire article, it it quite clear how Goldman is so profitable. They are selling faulty products knowingly and can bet against the insider knowledge. Or, in the case of Greece, they can sell a product that gives them the insider advantage of knowing exclusively of the billions of debts hidden and waiting to explode into public one day. Many claim this is ‘free market’ capitalism, but, if so, then we should allow some increased competition through say the formation of say the Gambino Bank Holding Company.
Tags: aig · goldman7 Comments
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@Y’All
Mornin’ Y’awl!!
No brakes with the throttle wide open maybe we should put Toyota in control of the economy,
BBC Newsnight cover Goldman with Janet Tavakoli
starts 24.22 minutes in
http://tinyurl.com/q7spjj
Maybe it’ll be the Greeks that catch the WS crooks ?
…As details of the coverup emerge, so does anger at the perceived conflicts. Philip Angelides, chairman of the Financial Crisis Inquiry Commission, at a hearing held by his panel on Jan. 13, questioned …how banks could underwrite poisonous securities and then bet against them. …“It sounds to me a little bit like selling a car with faulty brakes and then buying an insurance policy on the buyer of those cars,” he said.
‘Part of the Coverup’
Janet Tavakoli, founder of Tavakoli Structured Finance Inc., a Chicago-based consulting firm, says the New York Fed’s secrecy has helped hide who’s responsible for the worst of the disaster. “The suppression of the details in the list of counterparties was part of the coverup,” she says.…
Markopolis … Tavakoli … Angelides
… all Greek names !
How ironic … maybe Greece should invite them to investigate their debts !
is there any doubt…i mean its just a matter of collecting evidence against GS…should it not be taken down soon?
For god’s sake won’t someone arrest these international criminals!
Americans are now throwing themselves into buildings using small planes in protest against the corruption. They see the criminal acts and the injustice.
For god’s sake, turn off the damn TV, forget the inane gladiatorial sports battles, ignore the celebrity circuses. The Romans did this to the people in the last days of Rome. It was called “Bread and Circuses” to take their attention off the decay, corruption and impending end.
Where are the American heros? Our forefathers would be ashamed. We don’t deserve to inherit the freedoms and liberties they bequeathed us.
You talk to people about it and they think you’re the one who is nuts. I swear it got to be the fluoride or something……
I feel sickened by the blindness adn stupidity.
National Socialist Carpet Baggers. That’s what Goldman SS-achs is. Nazi carpet baggers. Mexican drug cartel is more honest than Goldman SS-achs.