Goldman knew it profited in crisis

Goldman knew that its plan was fatally flawed and destined to failure. It had to short. They aren't stupid.

Don't let all of those fancy names and ideas confuse you. It's very simple. Fraud and regulatory failure caused the economic crisis. The execs walked out with the money and the government took the losses ("socialized"). Ultimately, you and I are the ones who will pay.
 
Nice that Obama refuses to return the nearly $1 million dollars in political contributions from Goldman Sachs. Not a surprise noting the WH coziness with GS in the first place.
 
kokonut said:
Nice that Obama refuses to return the nearly $1 million dollars in political contributions from Goldman Sachs. Not a surprise noting the WH coziness with GS in the first place.
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Politics make strange bedfellows but this "coziness" takes the cake. :lol:
 
kokonut said:
Nice that Obama refuses to return the nearly $1 million dollars in political contributions from Goldman Sachs. Not a surprise noting the WH coziness with GS in the first place.
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Riiiight. All politicians return questionable contributions.:lol:
 
And what about the bastards at AIG and such that took the bail out money and paid out millions in bonus money to the execs that drove the companies into the ground. Gee. I didn't know you get a bonus when your company failed. And those are paid at the expense of the taxpayers and their children and their children's children. And people wonder why I am apathetic. Don't get me started.
 
Congress has been allowing the financial industry run it's own show for about a decade. President Obama shares responsibility as a former Senator, with all of his colleagues, but not as President until he was inaugurated. He is responsible for appointing the same men who caused the financial crisis to his cabinet. Plenty of blame to go around here! As RD mentioned, AGI shares some of the blame.

The FIRE economy (finance, insurance and real estate) produces nothing except some paper pushing jobs and cannot support us all.
 
Goldman executives cheered housing market's decline, newly released emails show.

washingtonpost.com

These guys are lizards.
 
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sallylou said:
Congress has been allowing the financial industry run it's own show for about a decade. President Obama shares responsibility as a former Senator, with all of his colleagues, but not as President until he was inaugurated. He is responsible for appointing the same men who caused the financial crisis to his cabinet. Plenty of blame to go around here! As RD mentioned, AGI shares some of the blame.

The FIRE economy (finance, insurance and real estate) produces nothing except some paper pushing jobs and cannot support us all.
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You raise an excellent point there. Let's see if Obama is willing to accept the conquences of cleaning up the mess he helped to create.
 
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