Now that's what I've been trying to say!
"Goldman Sachs may have been smarter than most of its peers, but under Paulson’s leadership it played a primary role in the creation of the pyramid scheme of debt and opaque derivatives that has just come tumbling down, endangering not just the American taxpayer and investor, but also a global economy based both on trust and the free flow of capital. Paulson was in the thick of the massive over-leveraging of the investment banks, a major beneficiary of obscene levels of remuneration for those who gambled with other people's money."
Fox in the hen house.
The rest of article is even more damning. Heads should roll.
Wasn’t this the guy who told us (not so long ago) that all was well?
Incompetence, or dissembling? Either way, can’t we do better than this guy?
This fund is structured to greatly benefit Paulson and his buddies when he becomes a CEO of a major Wall Street firm on or about January 21st. By Bernanke's own admission, the plan is to pay much higher than market for the assets in question, allowing banks to book huge gains. Paulson will take over one of these banks, sell off assets to the fund, and get a huge, huge bonus a year later.
“Just when there are calls for tighter regulation of the financial sector, the Federal Reserve and Treasury conspire to trash their own rules to help two unworthy institutions.”
Where to start? The arrogance, the contempt, the corruption, the pure selfish sleaze....
Enjoy the ride folks because we’re going where they’re taking us and we might as well get SOMETHING out of it.
Let the banksters go to hell.
Wasn’t it Paulson that McCain said a week or so ago should to be fired?
So who the hell are the “rich Asians”?
And who stands to gain the most should Goldman Sachs and Morgan Stanley fail?
The sad thing is, we will cut off our noses to spite our face. YES the bailout has BIG problems. So does the financial system. The ystem nearly collapsed last week.
What do you have to say about this?