Did Goldman Sachs engineer the current depression?

I read both articles at the links you provided. I'd heard about Matt Taibbi's Rolling Stone article but I haven't read it yet. I will now.

Sad to say I think there is a lot of truth in both of these linked articles. If you think about it, it's insane that under Bush we had a CEO of Goldman as Treasury Secretary who had the brass balls to hold up Congress with the threat, "Give me $700 billion in unmarked bills now, no questions asked, or the economy gets it! " And they GIVE HIM THE MONEY!

And the ECONOMY STILL GETS IT! Outrageous. Well nothing has changed.

The same conflicts of interest continue right into the Obama administration, no accountability, no reregulation, just more big bank giveaways and the shadow banking system still gets pretty much whatever it wants no questions asked. Here's a link to TARP Congressional Oversight Panel Chairman Elizabeth Warrens' June report on the banks;http://cop.senate.gov/video/index.cfm#tab15Watch it to the end if you can, you'll see her desperation. I'll come back and hub this.

I have to read Taibbi though first. Thanks for the links.

In a chapter from The Great Crash, 1929 titled "In Goldman Sachs We Trust," the famed economist John Kenneth Galbraith held up the Blue Ridge and Shenandoah trusts as classic examples of the insanity of leveragebased investment. The trusts, he wrote, were a major cause of the market's historic crash; in today's dollars, the losses the bank suffered totaled $475 billion. "It is difficult not to marvel at the imagination which was implicit in this gargantuan insanity," Galbraith observed, sounding like Keith Olbermann in an ascot.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.

Related Questions