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"Goldman Sachs are scum"

a little night musing's picture

[Welcome, Naked Capitalist readers! -- lambert]

Part 2:

Hat tip Susie

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Submitted by lambert on

Just listen to whole thing!

Of balance sheets:

"On the left side, nothing is right. On the right side, nothing is left."

Left is assets, right is liabilities

Transcript! Transcript!

Davidson's picture
Submitted by Davidson on

Zero Hedge.

EDIT: Here's the video

I've always laughed at how people continue to say that Goldman Sachs "earned" theses staggering "profits." They fucked up the economy, took tons of money from the government (while their competitors were left to fail or not supported as excessively), and then instead of using that money to help the economy (remember that was the entire point), they use it to increase their leverage in the market and pay out insane bonuses to the very people who helped destroy that market and our entire economy.

Goldman Sachs is living the life while our economy is still fucked the hell up thanks in large part to them. But hey, they paid back a fraction of the entire amount of money the government has handed to them (Note: we have to consider the "profits" GS got when the government refused to bail out their competitors and the money the Fed has handed over to banksters that is still shrouded in secrecy).

cal1942's picture
Submitted by cal1942 on

Can't help but thinking, while listening to Eliot Spitzer, what a sharp decisive President he would have been.

Instead, we got ...

Submitted by jawbone on

have made a difference. He was clearly taken out and the Bush DOJ had the goods and used them. If they did that so fairly obviously, what else did they do to stronger Dems?

They took down Siegelman and Sptizer. Who else?? (Now, where did I put my foily hat....)

Submitted by lambert on

Quite late in the video (from the Euro guy, whoever he is):

"On the left side, nothing is right; and on the right side, nothing is left."

That actually sums up our political situation as well...

bendjamin's picture
Submitted by bendjamin on

I think Armstrong's case is alot more complex than what you think. Why did the court take away all his lawyer monies? What were they afraid of? Why did they cut off his mother's social security payments until the lawyer she hired for her son threatened to hold a press conference? I think there is evidence that other parties from Republic Bank did the bad trading and blamed Armstrong.

There is a European film company (and one of life insurance companies) making a movie about how Armstrong has been treated unjustly by the US Justice department, this film is going to be quite damaging to the government.

Armstrong's current postion on the USA is not just some flipant off the cuff idea, his 32,000 variable super computer model that predicted the downfall of the soviet union is what is behind his belief that the USA is going to collapse.