Goldman Sachs
Stimulus Overload, Part Two
The federal government and a chosen few corporations are siphoning up vast amounts of investment money. That isn’t exactly a stimulus.
January 7, 2009 | Read More
Federal Reserve: We Don’t Need No Stinkin’ Congress!
Don’t look now but yet another bailout is afoot. But there won’t be any debate in Congress on this one.
January 2, 2009 | Read More
On Bailouts, Bonuses, And Context
Three news stories, from three different sources, tell the real story of the Wall Street bailout.
December 22, 2008 | Read More
Uncle Sam To GM: All I Got Is $25 Billion
Hank Paulson has apparently decided that General Motors - one of the biggest corporations on the planet, which employees 200,000 and provides health care and pensions to a million Americans - is not ‘too big too fail.’ But don’t feel too sorry for the behemoth multinational. It looks like Uncle Sam has found a way to toss a couple dozen billion its way after all.
November 3, 2008 | Read More
Don’t Take our Golden Parachutes!
Many large banks might pass on the $700 billion bailout bill. Why? Because, according to an article in the Guardian UK, there is a “growing view on Wall Street that the market may be bottoming out.” But the Dow Jones is down 609 points. That doesn’t sound like bottoming out to me. That sounds more like a pronounced nosedive into a long, dark well of pain, with no “bottom” in sight. So what’s the real reason? Executives don’t want to lose their massive retirement plans.
October 6, 2008 | Read More
Paulson Caused the Crisis
The net capital rule was there to make sure Wall Street could bail itself out in case of a crisis. But because the SEC gave geniuses like Henry Paulson what they wanted and eliminated the rule in 2004, we the taxpayers now have to pay the tab for their recklessness. This is the man that now wants a $700 billion blank check - to fix the crisis that he caused!?
October 3, 2008 | Read More
Subprime Bedfellows Craft the Bailout
With senators falling over themselves to vote for the $700 billion bailout package yesterday, let’s not forget that before the housing meltdown, two key senators were all too willing to benefit from a major player in the subprime scandal.
October 2, 2008 | Read More
Reason #54: The Wall Street Propaganda Mill - Fleecing us with Lies
Just like the federal government uses cooked statistics to keep us spending, the hucksters on Wall Street are always working overtime to keep the suckers’ money flowing in. Big investment firms run massive propaganda mills that crank out overly optimistic news and sell the common investor financial snake oil. Do our leaders in Washington require them to substantiate their claims? Don’t bet on it. In fact, they stand side by side with these silver-tongued snakes, hissing the same song.
During the housing boom earlier this decade, big financial players like Goldman Sachs and Merrill Lynch made fortunes packaging subprime mortgages into…
August 27, 2008 | Read More
