I just watched this for the third time. There's a lot of food for thought GB is presenting, regardless of my opinion of his past rants. Everyone should watch this video. It presents some motives and angles (possible) that I hadn't thought of before, and that I wouldn't entirely dismiss. Good job, Glenn.
Glenn Beck knows very little. He just parrots what his guests tell him. If you had the misfortune of watching him when he first came on TV you would know how little he really knows.
Exactly. Look how they took out their COMPETITORS. Reminds me of how Sharon Hruska-Brown "took out" the CBOT in favor of the CME. IMMEDIATELY after that, the CME stopped providing FREE emini data files. They went to a PAID subscription model. OF COURSE, they were now without COMPETITION. THEY COULD DO WHATEVER THEY WANTED.
GS did nothing illegal. Hedging risky investments was the smart thing to do. Just because financial people at other banks weren't bright enough to hedge sufficiently doesn't mean that GS success should be seen as bad or wrong.
I'll echo the (IMO appropriate) populist rage. To the extent a great proportion of tax dollars (170+ billion) given to AIG were really designed to benefit the likes of Goldman, as AIG would never have been able to pay their counterparties on CDS bets without such sums, Goldman was an accessory, if not the principal miscreant, to grand theft and fraud. Had not AIG been bailed out with such vast sums of taxpayer largess, would you be saying Goldman was so "bright" if AIG was unable to make good on those swaps? I say not, as Goldman would be in the dustbin of history by now.
Insider trading is not illegal if its done with the collusion and sanction of government officials. The anger at GS is misdirected, they were able to bamboozle both Bush and Obama and work the system just like any other corporate entity trys to do. Our representatives in congress and the white house have not acted in the best interests of the American people and it is they who need to be held to account.
Do you think that is possible? Well okay, a farmyard hen could bamboozle Bush into starting a 100 year war, but Obama?? Obama is no one's fool... after all he started a carbon exchange before taking office and now is going to save us all with his carbon taxes. I don't think our savior is bamboozled, but I do think he is doing a lot of bamboozling. It's like they say: it's not what you know, it's who you know.
And to think the US government has the nerve to point to others governments on corruption. How corrupt is the US??? The 'officials' in this country are just as corrupt and a total joke. Look at Barney Frank...what a retard!