Some of us know exactly what's going on.
Long story short is that Goldman Sachs is a "legal" mafia cartel that makes its billions by sucking it out of the veins the of an unwitting American populace.
Their pushing for the cap and trade legislation and Henry Paulson's historic 20 billion money-laundering ripoff via AIG are just two demonstable examples of the GS racket. A racket they've been allowed to get away with because - like most successful mobsters - they've bought and paid for all of the right people in high places.
Crimes aside, they produce nothing of value and (believe it or not) pay not one cent in federal taxes as a business entity.
Interesting perspective.... but not the comment I was hoping for.
GS, Citi, et al, all seem to operate with very sophisticated financial instruments. (I remember the day when buying and selling stocks & options was “sophisticated”.) I doubt the regulations have been written to control their operations. These big firms take advantage of government policies, polices which force monetary policy in an unnatural direction.
For instance the mortgage rates are held artificially low and the government is forcing banks to give loans to unqualified people.
I wish people weren’t so greedy - but in a capitalistic society that’s how we are rewarded in our jobs, with money.
If a company can correctly “bet” on loans that it knows will go south I have a hard time blaming them. They made money off of others misery but they didn’t cause the misery. I think we need to look at the Dodds and Franks, and others, who propagated the tragedy and were warn repeatedly.