Friday, July 03, 2009

Matt Taibbi on Goldman Sachs

The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.
Much more, here

PS: Some more quotes which are shocking. Remember the spike in oil prices?
. Between 2003 and 2008, the amount of speculative money in commodities grew from $13 billion to $317 billion, an increase of 2,300 percent. By 2008, a barrel of oil was traded 27 times, on average, before it was actually delivered and consumed.


Is America any kind of democracy anymore?
By the end of March, the Fed will have lent or guaranteed at least $8.7 trillion under a series of new bailout programs — and thanks to an obscure law allowing the Fed to block most congressional audits, both the amounts and the recipients of the monies remain almost entirely secret.
{emphasis added; the US GDP is about $14 trillion.}

2 comments:

Cynthia said...

From Iron Maiden, slightly modified “Run to the Hills”

Goldman Sachs came across Wall Street
Getting rich while bringing us pain and misery
Killed our dreams and killed our creed
Took our lives for Goldman’s own need

We need to fight them hard and fight them well
Out on Main Street we’ll give Goldman hell
But Goldman owns our Government mightily
Oh will we ever be set free?

Riding through dust clouds and barren wastes of Wall Street
Goldman gallops hard onto Constitution Avenue’s deceit
Chasing the taxpayers back to their holes
Fighting citizens in the name of free markets is their goal
Manipulating markets with taxpayer money is a stab in the back
It is time for women and children and cowards to attack

Run to the hills run for your lives
It’s Goldman Sachs that tells lies

Soldier Goldman sitting on his ass in glass towers
Manipulating and cheating is Goldman’s game
Raping the women and wasting the men
The only good citizens are tame
Selling them CDOs and taking their gold
Enslaving the young and destroying the old

Run to the hills run for your lives
It’s Goldman Sachs that tells lies

hat tip: percolator at Felix Salmon's blog

Idler said...

Arun,

Matt Taibbi has copied a lot of stuff from Lila Rajiva who has been writing about Goldman Sachs.

Second Journalistic Dude Who Can Read Correctly


http://mindbodypolitic.com/goldman-sachs/