This company is a scourge on our nation.
http://www.youtube.com/watch?v=7SFywA_LQuU&feature=player_embedded
I posted this article before…
http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine
+1 agreed.
but if we apply true conservative free market capitalist ideals: So what, they suck, to do anything to change that would be socialism.
folks need to wake up and realize the whole republican/democrat thing is nothing more than a distraction.
True free market ideology does NOT have the government to bail them out.
Free market econmomy is without economic intervention and regulation by government except to regulate against force or fraud.
There was another Rolling Stone article a week or two ago that went into this further. I read it through news.google.com on my iPhone. I sent the link to myself to post here but when I tried it on my computer, I kept getting webserver errors past the first page of the article. I figured it must have been a subscription only article or something (?)
The problem is that they suck because they take advantage of govt regulation and bail outs. We can change they can’t we?
Actually here it is:
http://www.rollingstone.com/politics/story/32255149/wall_streets_bailout_hustle/1
Exactly. Meaning you would be bankrupt right now, as would I, we would all actually literally have no f-ing money, and the owners of Goldmen and Sachs would be rich as sh@t while the workers for their bankrupt company would be standing alongside homeless people in a bread line. Lack of regulation is what got us this far. Bush was forced to bail them out once his lack of oversight resulted in this problem. His embrace of free market ideals came back and forced him to respond with an over extended government response.
uhh, not really. They would not have been able to engineer their scams where they knew the govt would back the failing companies so they could press them for payment. Read the articles.
Lack of regulation is what got us this far. Bush was forced to bail them out once his lack of oversight resulted in this problem. His embrace of free market ideals came back and forced him to respond with an over extended government response.
???
Goldman Sachs and free market in the same breath?
What a knee slapper!! 
i think regulation or not they’ve gamed the system so good at this point that it really doesn’t matter either way. they’re going to find a way to profit. regulate one aspect, for example the credit default swaps, and they’ll move on to engineering the next bubble that they will profit on once it collapses.
they’re doing it not only to this nation but around the world…profiting from others’ misery. and setting it up to do so.
it is ironic. they’ve totally gamed the system to where the regulations actually benefit them. its beyond criminal IMO.
i think what Goldman does could definitely be considered fraud.
Goldman Sach’s gross mismanagement, over leveraging of assets coupled with AAA+ rating (and not having the resources to properly cover the exposure) along w/ the deliberate criminal debacle of tranches, default/credit swaps etc. is beyond venality.
To add to the intellectual insult, to then attemp by obfuscating simple facts into complicated convoluted explanations such as it’s too complicated and the average person would not understand… reeks of HUBRIS and guilt.
Sorry, this one is on a nerve & we collectively got played on this one.
but that’s just me…
I think some of the Greedy bastards at G.S. should have went to jail, but did not because they made large politcal contributions. :eek:
not only that former GS alumni and execs are in high influential govt positions
Believe it or not I do understand what went on in this situation and a complete lack of regulation would in NO WAY be the solution to prevent future Goldmam Sachs problems from happening.
A good friend of mine, and an immigrant from Uruguay was talking with me when this all went down, and before the bail out happened. He explained to me exactly what GS was doing, and related it to similar situations in the history of South America (for example the 2001 financial collapse of Argentina). It is not a new scheme, but to think that an un-regulated system is the solution is as naive as thinking that a simple bail out will help these assholes see the light and bring them back into the fold.
I knew if you stuck around long enough you’d say something not dumb.
Marx said “Religion is the sigh of the oppressed creature, the heart of a heartless world, and the soul of soulless conditions. It is the opium of the people.”
Ironically it should have been “politics” not “religion”.