I have a very strong feeling that you don’t like Goldman Sachs at all....I hope its not because they are too successful and pay their employees outrageous bonuses.
No, I think it is because in this case, GS&Co facilitated a robbery of 1 billion dollars committed by a hedge fund and stolen from otherwise honest investors.
Goldman Sachs execs that played a role in this or had knowledge of it and looked the other way should be strung up alongside the Paulson hedge fund big wigs as an example.
Capitalism doesn’t work too well when we look the other way at corruption and back alley deals. History is littered with examples of this kind of stuff, if left to its own devices, leading to nasty revolutions and the loss of capitalism or semi market-based economic models.
I don’t have a vendetta against them or any other firm. What I do have is a vendetta against those who play loose with the truth. I know when you play with someone elses dice you might consider the game rigged. I accept that but what I like to see happen is when someone running a rigged game has happen to them akin to what happened once in an alley dice game in Newark: After making 15 straight passes one time, the guy who lost his shirt said to the shooter, hey man, let me see those dice. When he produced them, he cut off his hand with a straight razor. That is what I want the government to do with these clowns, figuratively speaking of course. They belong in JAIL.
I don’t like GS because, moreso than other financial houses, they are rent-seekers. Their whole business model involves getting their former employees jobs in government or quasi-government.
From a free market point of view, the whole financial sector is poison. It’s so heavily regulated that the companies are not allowed to fail. It’s very corrupt, as the donations to Chuck Schumer and Chris Dodd indicate.
The reason why I despise Goldman is that they’re crooks, frauds and thimbleriggers.