SATURDAY, JULY 30, 2011
Goldman Sachs's Fraud Was Far Larger than Madoff's
Here is another video interview with Matt Taibbi about the aftermath of the financial meltdown. Lack of law enforcement and prosecutions probably mean that there will be another financial crisis which may result in banks being bailed out by the government unless the laws and the politics change. Politicians seem isolated from what the average American is going through (with foreclosures and loss of savings).
Wall Street and Washington have a commingled relationship or a "revolving door" which puts financial people into government and government people into the financial system until they become one and the same entity.
See the video here
Wall Street and Washington have a commingled relationship or a "revolving door" which puts financial people into government and government people into the financial system until they become one and the same entity.
See the video here
3 COMMENTS:
http://maxkeiser.com/2011/07/30/max-keiser-america-will-lose-its-sovereignty/
A Mobilization in Washington by Wall Street
Administration officials reached out to the business community this spring, anticipating a bruising political fight. Over a lunch buffet in April in the Manhattan boardroom of Kohlberg Kravis Roberts, Mr. Geithner warned Wall Street executives of the dire consequences of failing to raise the debt ceiling.
Top Republicans Say They’ve Begun New Talks
Among the attendees were Henry Kravis, the private equity titan, Gary Cohn of Goldman Sachs, Robert Wolf of UBS, and the hedge fund managers John Paulson and Paul Singer.
http://www.nytimes.com/2011/07/31/business/wall-street-mobilizes-to-raise-debt-ceiling.html
Conflict of interest runs rampant because those bank profits and bonuses were a result of financial fraud by the banks. We have no doubt that Geithner and Goldman Sachs are 'on the same page.'