Is this about China? No? fuck off. You're beginning to look more and more of a troll. I might put you on ignore. GS also got billions and billions in stealth bailouts through AIG. Makes your whole post about how godly they are a farce. But you didn't know that, because you talk with your mouth wide and think with your ass. I happen to agree 100% with Krugman, and also teaches us all a bit more.
asiaprop has to be a paid poster, or he works for GS. I know of no one outside Wall Street who like that firm. Is the government responsible for proping up insolvent banks that ran up excessive CDS, CDO, CLO, CMBS, etc. deriviatives exposure or is the bank, it's shareholder and bondholders? Since many of these financial institutions continue to have trouble covering these bad bets, perhaps the government should raise the interest rate on the FED Reserve programs and TARP funds to 28% and start billing them for late fees to see if that wont encourage better behavior from these honest and upstanding institutions. The Genius of Goldman? Whatâs up with the mainstream media acolytes who keep aluding to the genius of Goldman Sachs? What genius? If it wasnât for their former CEO Hank Paulson bankrupting their competition (Bear and Lehman) and then extorting Congress behind closed doors under the threat of martial law, they wouldnât even be in business today. Does having your former CEO being able to choose who among your competitors lives, or dies, make you a genius? Does having your former CEO bail you out via the backdoor of AIG, make you a genius? Does running the latest shadow-government version of INSLAW/PTECH/PROMIS software and front running the market (not mention their own clients) as the defacto trading arm of the Plunge Protection Team make you a genius? Does stuffing profits offshore and only paying a 1% income tax rate, after being bailed out by taxpayers who pay 20-30-40 times that, make you a genius? Was former Goldman Chairman and NY Fed head Stephen Friedman a genius, or just another front running, inside trader? Since when does front running & shearing the sheep make one a genius? Goldman is no more a genius than is the IRS. One robs you blind under the protection of the law of the land, and the other robs you blind while operating outside of it.
Apparently Krugman has an ax to grind with Jews, since he criticized current policy pertaining to GS. Might as well throw Jon Stewart, half his staff and a large percentage of Jewish GS critics in the in the antisemitism crowd. They have issues with the way GS is allowed to conduct its business and therefore are blaming Jews and obviously antisemitic.
Many of Goldman's reprehensible activities were clearly not illegal but merely unethical. Based, however, on the payments to plaintiffs made by Goldman Sachs so far, it is safe to say that Goldman has also broken laws. Apparently it is illegal to misrepresent a product you are selling, such as promoting a triple A-rated CDO that you, in fact, knew should not have a triple A rating, because you knew all along that the underlying mortgage bonds where of questionable value and you therefore sought to influence, i.e., bribe, rating agencies by hiring them as consultants to tell you how to package the CDO in order to qualify for a triple A, and because you shorted the same CDO's that you promoted as sound investments. Expect more suits to follow.
Goldman is the Welfare Queen of Wall Street - the major and primary expertise of the Goldman partners is the ability to socialize losses (i.e., have us, the public, pay for them through their governmental connections) and privatize profits (maintain the bounties from profitable activities in their own hands-again through their governmental connections). They do this through their intertwining networks in the halls of government, the Treasury, Fed and business. A Barron's article several months ago laid Goldman's most recent machinations bare in discussing how Goldman has used government guarantees of certificates of deposits to raise $20,000,000,000+ at extremely favorable interest rates to finance its proprietary trading activities - where equivalent financing raised without government guarantees would have cost 500 or 600 basis points more - and which would have materially cut into Goldman's profits. These guarantees were supposed to help banks raise money to lend - Barron's article noted that Goldman's CFO bragged about using the funds for its own trading activities. In my opinion, Goldman never met a conflict or potential conflict that it couldn't circumnavigate, at least in terms of its own code which embraces an extremely elastic view of one's ethical and fiduciary obligations. And the arrogance of this group is exemplified by Hank Paulson's attempt to get Congress to legislate unprecedented financial powers to him with no judicial oversight to "bail-out" the economy . The financial press in the past has, in general, been either too ignorant, or too in awe of Goldman, or both to write anything other than slavishly flattering pieces. If the general public knew all of the facts about Goldman I suspect there would be the same outrage
Stop trying to twist this to some anti-Semitic argument. No one has mentioned anything about race here so just stop.
I can't believe you have been so racist. btw how long is your penis and what is the circumferance of your balls?