Posted on 07/16/2009 4:55:29 PM PDT by FromLori
“Goldman will surely deny that its risk-taking is subsidized by the taxpayer -- but then so did Fannie Mae and Freddie Mac, right up to the bitter end. An implicit government guarantee is only free until it's not, and when the bill comes due it tends to be huge. So for the moment, Goldman Sachs -- or should we say Goldie Mac? -- enjoys the best of both worlds: outsize profits for its traders and shareholders and a taxpayer backstop should anything go wrong.”
“So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost pure state subsidy.”
Pop quiz: which one of the above quotes comes from Rolling Stone’s Matt Taibbi and which comes from the editorial page at the Wall Street Journal.
We’ll get to the answer in a bit. What fascinating is that it’s so hard to tell which is the long-standing voice of capitalism and which is the writer for the one time icon of the counter-culture. To put it differently: what could have brought us to the point where both are aiming their scornful analysis at the most successful firm on Wall Street?
In a word: Bailout.
It’s taken some time but finally people from all over the political spectrum are looking up and noticing that the banner waving on the flagpole stands for Bailout Nation rather than the land of the free. And they’re pissed.
(Excerpt) Read more at businessinsider.com ...
Max Keizer: Goldman Sach are Scum! They are Criminals ! They Ran a Coup in the U.S.
Most excellent video for sure but here is another TOP NOTCH!
http://watch.bnn.ca/#clip193973
SqueezePlay : July 15, 2009 : What Wall Street Owes You [07-15-09 5:10PM]
As per FR rules I haven’t read the article so I say quote #2 is Taibbi’s
The SEC alleges that five individuals, including a former investment banker at Goldman Sachs & Co., illegally tipped or traded on confidential information ahead of an announcement last year that Liberty Mutual Insurance Company would acquire Safeco Corporation, a Seattle-based insurance company.
This is the most amazing thing I have seen in my 55 years of living. A financial analyst from Europe completely exposing Goldman Sachs and Obama’s complicity in the financial scams on Wall Street. I knew most of this, and I have posted it here, albeit in bits and pieces. But I never would have believed that someone would expose the whole modus operandi of the gangsterism of Goldman Sachs. Remarkable.
Goldman to government: “Give us all your money, and go away!!”
LOL!
Pay up and do not audit us or else!
http://bluelori.blogspot.com/2009/07/obamas-golden-road-to-white-house.html
Listen folks. Obama is a hard core Chicago gangster politician. There must be a payoff from Goldman to Obama down the road. Look for Obama to be handed 20-100 million from Goldman directly or indirectly to Obama when he leaves office. I assure you Obama will be a very wealthy man very soon after leaving office, and look to Goldman for the eventual payoff.
RB, take a look at the video on post #2 here.
Goldman positions itself in the middle of a speculative bubble, smoothly selling investments THEY AND ONLY THEY know are garbage. Then G/S sucks-up up vast sums from the middle and lower classes with the aid of corrupt govt's (and govt officials like ex-GS'er Paulson) that allows it to rewrite the rules in midstream.
G/S helps grease the political wheels w/ campaign donations.
Finally, when it all goes bust------after G/S leaves millions of ordinary citizens broke-----they then begin the entire process over again, riding in to rescue by lending back our own money at high interest----positioning themselves as moralists who are above greed.
Max Keizer........... He has his own youtube channel now with many videos. He’s the guy who said- bring out the guillotine
Edmund O’Brien....DOA....1949.
I watched about 10 of his you tube video’s this morning. This guy is not only smart, he has brass balls!
Yeah Max has a good sense of humor as he lays it all out. He is left though. In one video he mentions Bush-Cheney war crimes
In another video he says Wall St has caused 10x more damage than Osama Bin Ladin
http://trueslant.com/matttaibbi/2009/07/16/max-keiser-goldman-sachs-are-scum/
Goldman Sachs are scum. That is part one and part two is also on youtube. It has it humorous moments
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.