We would have a bigger chance of building a human pyramid to the moon. Forget about trying to organize any kind of resistance to this type of corruption, it's completely useless. The system is what it has always been... you might just as well try to stop the sun from rising.
Hank Paulson having 200 million+ in GS options is a conspiracy theory? Or the fact that he would provide favorable treatment of GS while he let Nero play the fiddle with Bear Stearns and Lehman, so as to protect that 200 million+ in Goldman Sachs' options is a conspiracy theory?
What a load of bullshit. They, along with all the other major IBs, took imprudent risks and would be bankrupt if the US had a truly free market. They would not exist were it not for taxpayer wealth given to them by the government. They are de facto government entities. If the system were fair, they would be in liquidation and there would be no assets left from which to pay bonuses.
the first one is not the second one is. so you still think the government has no fault in hiring people with special interests? And also the average American has no fault in having created this bubble? No problem to overspend and buy things one cannot afford? All GS's problem?
Some people keep mentioned that GS repay TARP and therefore all is good. The main tools that government use are varies facilities Fed setup to pump liquidity to banks. That amount is way more than 700B. Just look at how much the Fed's balance sheet grow. During the crisis, in order to access those facilities, GS converted into a bank. In addition to Fed lending money to banks with bogus collateral, they also have interest rate at 0%. Let me ask you this. If you can borrow unlimited amount of dollar with interest rate at 0%. How many ways you can make money with it?
Mark Patterson Chief of Staff for Treasury, V.P. Government relations, Obama administration Hank Paulson Treasury Secretary, CEO, Bush Edward Liddy Appointed CEO of AIG by Paulson, Board member, Bush Niel Kashkari Head of Office of Financial Stability for Treasury, Vice President, Bush, Obama Niel Levin Head of NY State Insurance Department, Vice President, Bush, Obama Gary Gensler Head of CFTC, Partner, Obama Duncan Niederauer Chief Executive Officer of NYSE, Partner and Managing Director, Bush, Obama Stephen Friedman, Chairman of NY Federal Reserve Bank, Chairman of National Economic Council, Chairman of President's Foreign Intelligence Advisory Board, CEO, Bush, Obama William Dudley, President of NY Fed, Board member of FSB of BIS, Partner and Managing Director, Bush, Obama Robert Zoellick, President of World Bank, Vice Chairman International, Bush, Obama Mark Carney, Bank of Canada, Board Member of Bank of International Settlements, Managing Director, Bush, Obama Mario Draghi Chairman of FSB of BIS, President Bank of Italy, Partner, Bush, Obama Joshua Bolton White House Chief of Staff, Executive Director, Legal and Government Affairs, Bush Edward Forst Consultant to Paulson re Fannie and Freddie bailout, Executive Vice President, Bush, Obama Reuben Jeffrey Under-Secretary of State for Foreign Affairs, Interim Chief Investment Officer for TARP, Managing Director and Partner for European Financial Institutions Group of Goldman, Bush, Obama Steven Shafran Sr. Advisor to Secretary of Treasury, Partner, Bush, Obama Robert Rubin Treasury Secretary, Chairman, Clinton Timothy Geitner Treasury Secretary, NY Fed President Rubin Protege and employee, Bush, Obama Larry Summers Director National Economic Council, Deputy Treasury Secretary under Rubin, Rubin Protege and employee, Bush, Obama John Whitehead United States Deputy Secretary of State, Chairman of the Board Federal Reserve Bank of New York, Chairman John Corzine U.S. Senator, Governor of New Jersey [also helped script Sarbanes-Oxley act], Chairman and CEO Robert Steel Under Secretary for Domestic Finance at the United States Department of the Treasury, Vice Chair John Thornton Member of the Council on Foreign Relations, President, COO Randall Fort Assistant Secretary of State for Intelligence and Research, Co-head of Global Security, Director of Programs Security This list is FAR from complete*
lol, as much as most daytrader make money here at ET. Who said its easy to make money even if you can fund at 0%?