Goldman Sachs at the center of every bubble since Depression

[everything]

http://www.rollingstone.com/politics/st ... le_machine

[chud]

Yeah, I linked to this article in my economy thread, here: click

[everything]

ah missed that, sorry.

a few more on the goldman connections and profits.

http://www.truthdig.com/report/item/200 ... f_bonuses/

http://online.wsj.com/article_email/SB1 ... TIzWj.html

http://zerohedge.blogspot.com/2009/06/g ... major.html

Goldman now positioned to profit big by green energy and cap and trade. Cap on carbon emissions that is lowered means that "commodity" price goes up and they will take a piece of the action. Goldman also invested in green energy firms already and now its alums are in the government and its lobbying dollars are pushing for green energy investment. Guess who will get the most profits? At LEAST we ordinary people can be somewhat lucky in that in the long run green energy and caps may actually do some real good for everyone else, unlike the effects from other market manipulations.

[Interloper]

http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine

It's another iteration of the Great Jewish World-Domination Conspiracy Theory.

[Dmitri]

Don't you mean the Great Jewish Mother World-Domination Conspiracy Theory? That is not just a theory.

That reminded me of a great joke:

Jesus (Christ) is walking down the city and sees a commotion. He comes closer and sees a woman (Maria) who is about to be stoned. He steps into the circle and appeals to the crowd, "Let the one among you who is without sin cast the first stone!" A second later a stone hits him in the head. He turns to see who that was and exclaims, "Oh come on, cut it out, mom!"

[Interloper]

Tom, if there really were a Great Jewish Mother World-Domination Conspiracy, populaces would be kept under control solely through guilt.

Insidious.

[chud]

http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine

It's another iteration of the Great Jewish World-Domination Conspiracy Theory.

I disagree. This is not about the Jews.
The destruction that Goldman Sachs has wrought on our economy is very real.

[Chris Fleming]

I get the point made about Goldman Sachs, but an even bigger problem comes from our own government.

This video, especially towards the end is worth a watch.

http://www.pbs.org/wgbh/pages/frontline/meltdown/view/


In related news, look at this shit.

http://www.businessweek.com/bwdaily/dnf ... 500893.htm

Banks were already bailed out but I guess that isn't enough for them.

[Teazer]

I get the point made about Goldman Sachs, but an even bigger problem comes from our own government.
This video, especially towards the end is worth a watch.
http://www.pbs.org/wgbh/pages/frontline/meltdown/view/

In related news, look at this shit.
http://www.businessweek.com/bwdaily/dnf ... 500893.htm
Banks were already bailed out but I guess that isn't enough for them.

& CIT only just recently switched to being a bank to get access to government cash. Let's hope for a speedy bankruptcy proceeding instead.
Nice video, btw.

[Teazer]

http://www.dailyfinance.com/2009/07/15/no-bailout-for-cit-as-talks-with-government-end/
<<"There is no appreciable likelihood of additional government support being provided over the near term," CIT disclosed in a press release. The lender, which last weekend hired a law firm specializing in corporate bankruptcies, said it's "evaluating alternatives."

CIT has been battling a severe cash shortage and faces a billion-dollar debt payment next month. Unable to sell bonds, it had been lobbying the Federal Deposit Insurance Corporation for approval to participate in a program that guarantees bank debt. Evidently the FDIC turned CIT down.>>

Thumbs up for the FDIC.

[Chris Fleming]

Thumbs up indeed. At least, that was my first thought. Just a guess here, perhaps CIT got turned down because the FDIC is in trouble or at least sees the writing on the wall that it won't be able in insure everyone like they claim to be able to do. Since there is systemic risk in the whole banking system right now, and the FDIC is only a group of banks all saying that they insure each other, that makes me wonder. Things that make you go hmm...