In an Op-Ed piece that would have been startling thee and a half years ago, a Goldman Sachs senior executive charged that Goldman only cares about what makes the most money for the firm. They don't give a shit about their clients and only view them as pigs to be slaughtered.
This putz only just broke the code? Everybody else on the planet who has followed the financial crisis figured this out in the fall of 2008. By the fall of 2009, it was public knowledge that Goldman had been shorting the very same securities that it had been promoting to its clients as gold-plated investments. They knew what they were selling was garbage.
Yet when there is a call in Washington to clean up the shitpile that is Wall Street and the big banks, you can bet your paycheck that both the Republicans and certain Democratic weasels* will prostrate themselves to make sure that nothing gets in the way of the banksters' abilities to rob their clients. Come the next crash, they will all be shocked that the banksters were once again reckless. They will always be reckless until they are stopped.**
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*Carolyn McCarthy and Chuck Schumer spring to mind, and there are many others.
** Or guillotined.
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Wednesday, March 14, 2012
5 comments:
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COMMENT MODERATION IS IN EFFECT UFN. This means that if you are an insulting dick, nobody will ever see it.
... and everybody who read "Liar's Poker" knew it 20 years ago.
ReplyDeleteThis is not just for you, but as a general observation for all who mocked this guy's op-ed:
ReplyDeleteWhen someone leaves the Dark Side and says "you folks were right after all," and operating under the assumption that this is behavior you'd like to see in others, calling him a "putz" and saying in effect "what took you so long, dumbass" is let's just say not the most effective approach or the most appropriate response.
Larry, it would be kind of like Tom Hagan running to the FBI and saying "As God is my witness, I had no idea, until know, that the Corleones were mobsters!"
ReplyDeleteGreg Smith didn't know, until just now, that he was working for a bunch of thieves?
That defies credulity. Of course we're mocking this guy.
Belief dies hard. It persists in spite of all the evidence to the contrary. At least this guy figured it out eventually.
ReplyDeleteComrade M - And do you think that if Hagan had done so that the FBI should have called him a putz and joked to each other about what a dope he is rather than saying "C'mon in! I bet there's lotsa good stuff you can tell us from your time on the inside?" Is that what you think of as productive?
ReplyDeleteCujo - Precisely. There's a line about it being hard to see the truth when your livelihood depends on not seeing it. He at least at some point broke through that wall.