Tag Archives: Goldman Sachs

Exported Justice

It’s good to see that Goldman Sachs isn’t content with just destroying the American financial system. They’ve got global ambitions, baby! As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs […]

Goldman Sachs rigging the game

Megan Carpentier has a useful summary of a NY Times article detailing how Goldman Sachs ripped off the U.S. taxpayer: The people at Goldman Sachs invested in mortgage-backed securities they expected to decline in value in order to make money off the insurance claims. Due to a long-standing relationship, they went to AIG for a […]

Two Americas: One for us, another for bankers

America #1: … this fall, she exhausted all options. She had once owned and overseen a group home for homeless people. Now, she succumbed to that status herself, checking in to a shelter. “No one could have told me that in a million years: I’d wake up in a homeless shelter,” she said. “I had […]

Dow 10,000: Who Cares?

Does anyone remember when the Dow hit 14,000 back in 2007? Those were the golden days – you could buy a house with little or no credit, unemployment was low, peoples’ credit card limits were still high, and only a few people had heard of subprime mortgages (and even less understood them). Now, the Dow […]

Wall Street to start trading in death

I had to check the date and the website to make sure it wasn’t Apri Fool’s Day and that I wasn’t on The Onion but the article turned out to be real and from a generally trusted source, the New York Times: The bankers plan to buy “life settlements,” life insurance policies that ill and […]

'Counting the money'

Yesterday I quoted Matt Taibbi on Goldman Sachs: Imagine a meat company that bred ten billion rats, fattened them on trash and sewage, ground their bodies into chuck, and then sold it all as grade-A ground beef to McDonald’s and Burger King, right under the noses of the USDA: this is exactly the same thing, […]

The looting continues, Part 2

Back in March I wrote about how the Bush/Obama bank bailouts are essentially cementing the power of big banks like Citi and Bank of America rather than reforming a system that’s failed so spectacularly. Instead, we’re rewarding big banks for their failure, and turning the other way while they misuse tax payer money in a […]