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vinnygorgeous

Goldman Sachs

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vinnygorgeous

I am sure most of you will have read it already, but for those who haven’t I happily bring you the article that has made headlines around the world, Rolling Stone’s The Great American Bubble Machine by Matt Taibbi.

 

It’s a provocative expose of how Goldman Sachs operates, it’s truly breathtaking that they have taken so much and given so little:

 

 

And here's the real punch line. After playing an intimate role in four historic bubble catastrophes, after helping $5 trillion in wealth disappear from the NASDAQ, after pawning off thousands of toxic mortgages on pensioners and cities, after helping to drive the price of gas up to $4 a gallon and to push 100 million people around the world into hunger, after securing tens of billions of taxpayer dollars through a series of bailouts overseen by its former CEO, what did Goldman Sachs give back to the people of the United States in 2008?

 

Fourteen million dollars.

 

That is what the firm paid in taxes in 2008, an effective tax rate of exactly one, read it, one percent. The bank paid out $10 billion in compensation and benefits that same year and made a profit of more than $2 billion — yet it paid the Treasury less than a third of what it forked over to CEO Lloyd Blankfein, who made $42.9 million last year.

 

Taibbi argues:

 

 

It's not always easy to accept the reality of what we now routinely allow these people to get away with; there's a kind of collective denial that kicks in when a country goes through what America has gone through lately, when a people lose as much prestige and status as we have in the past few years. You can't really register the fact that you're no longer a citizen of a thriving first-world democracy, that you're no longer above getting robbed in broad daylight, because like an amputee, you can still sort of feel things that are no longer there.

 

But this is it. This is the world we live in now. And in this world, some of us have to play by the rules, while others get a note from the principal excusing them from homework till the end of time, plus 10 billion free dollars in a paper bag to buy lunch. It's a gangster state, running on gangster economics, and even prices can't be trusted anymore; there are hidden taxes in every buck you pay. And maybe we can't stop it, but we should at least know where it's all going.

 

Taibbi describes them as a great vampire squid wrapped around the face of humanity but is he right?

 

Read the full article The Great American Bubble Machine then make up your own mind and discuss

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Jesus'En'Hitler420

I first heard about this article when Michael Savage read some excerpts on his radio show a few weeks ago. It's quite the read and full of truth. Some things, like how the congress of this country is completely in bed with these guys, he missed, but still captures the thievery of the bailouts, and the Reinvestment act.

 

People might remember this little piece of financial whooping when Jon Stewart interviewed Jim Cramer. Huffington Post Really, all of these assholes carry on about it like nothing is going on because they refuse to stick their necks out. They let the figureheads yell about it and "argue" over it, the population splits in to no and yes, and nothing gets done because it always looks like there's "bigger issues" at hand. The core of the problem is our government allowing this to happen, and duping everyone into believeing it's another.

 

But what can you say? The Constitution isn't taught in public schools, it's a thing of the past apparently.

Edited by Jesus'En'Hitler420

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Breaking Bohan

These bastardos should pay for the damage they've done to the global economy. They hardly pay taxes and then they soak up all the extra money in the economy .....

 

They really are like a "giant vampire squid on the face of humanity" !

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