Sanders Fundraises Off Goldman CEO Blankfein’s Comments


He should, and in this very narrow statement Sanders is almost correct. What Sanders does not mention however is that the reason Goldman Sachs acted the way it did, indeed why it COULD act the way it did in the lead up to 2008 was because its “greed” was facilitated by the Federal Reserve. The central planners wanted Goldman Sachs and the other banks to leverage themselves out. This was the goal. The Great Recession was created by the Federal Reserve, the central planners, not the banks per se. (Though as we know the bailout banks are partners in the system and even more so now.)

Unfortunately Bernie Sanders mistakenly thinks even more central planning will set things right.

But kudos for almost getting it sort of correct Bernie. Government Sachs deserves scrutiny from all angles.

(From Bloomberg)

“I have to say, I find it a little beyond comprehension that Lloyd Blankfein would lecture our campaign about ’dangerous moments’ after Wall Street received huge bailouts from the working families of this country, when their greed and recklessness caused millions of Americans to lose their jobs, livelihoods, and homes just a few years ago,” Sanders says in fundraising e-mail, addressed to “brothers and sisters” and titled “Goldman Sachs thinks we are ’dangerous’”

Click here for the article.

ACC is a completely non-partisan organization. We do not support/endorse or oppose any candidate for office. We believe that both major parties are heavily influenced by special interests and will report on crony capitalism wherever and whenever we see it.