Some good ideas here. Some significant points of disagreement (the media is all too often not on the good guy side, it’s not just “state capture” it is capture of industry by the state too), but generally a good piece.
Is there no one who had their phone on during any of these $250,000 speeches? Perhaps that’s the way to get any transcripts.
Oh man. Goldman Sachs is just a full service firm I guess. And I mean full service. Private Banking. Venture capital. Global economic manip…er…I mean analysis. And hey, speech writing too.
Sometimes truth comes from weird places.
Shoot, Ms. Clinton, many people have long wondered why there is one standard for you and another for everyone else. But I don’t think you pose the question many Americans pose it.
Hillary and former Goldman Sachs CEO and disgraced financier John Corzine. Photo: Truthdig
The speeches are starting to leak out. I wonder what she said when she addressed other banks? I wonder what Bill Clinton said in his speeches? That would be pretty interesting.
Hillary and Robert Rubin. Former Co-Chairman of Goldman Sachs Photo:Commondreams.org
Hillary and Lloyd Blankfein, current CEO of Goldman Sachs
“I don’t know how she does it,
“Labor unions are super PACs. Now they’re super PACs that we like, so Democrats don’t go after labor unions.” -Howard Dean
This is not a bad rhetorical tack as it is basically the only one Hillary has if she wants to continue to hide the transcripts. (By the way, there has got to be someone who recorded those speeches on their phone. Must be.)
And Howard Dean, Mr. Moveon.org, Mr. “Progressive” is attacking Bernie Sanders for his connections to unions?
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,
Goldman was President Obama’s number 1 private contributor in the 2008 election.
Goldman should be dead. Door knob. A chapter in American finance history, but a chapter about the past. It should no longer exist. It is not an example of American capitalism. It is crony capitalism at its worst. It is a bailout bank. It took from you because of its mistakes and “profited” with ill gotten funds. You kept Goldman Sachs alive. The government gave you no other choice.
Goldman Sachs, AKA Government Sachs, is very active politically. It has sought systematically to get its people into positions of power around the world.
The second best thing to do after having one of the bank’s own in positions of power from the bank’s perspective is to give piles of money to politicians who are likely to be friendly. (Or can be swayed to be friendly.) This is what they did for example with Barack Obama in 2008.
We have no horse in the presidential race as we often say but we sure have an issue with Government Sachs, the bank which long ago should have died but was saved by virtue of its connections in government. (Not the only bank.) The bank then, post-2008 went on to expand further around the world all fresh and “recapitalized.” (Recapitalized with your money.)
Yeah, well maybe officially. If tomorrow Citi or JPMorgan were to blow up I’m pretty sure the Fed would be right there to prop the crony banks if it had to. (In the Fed’s eyes.)
But this looks good for the Fed. It signals “recovery.” Something which is particularly important in the lead up to a potential rate hike later this month. So great. No more too big to fail.
I will note this again because it should be noted again and again. Goldman Sachs should be dead. Door nail. Kaput. Finito. Gone. A piece of history. Expired.
But Goldman Sachs, Government Sachs, lives because it got bailed out by you the taxpayer. You’re the one who felt the brunt of the Great Recession. You who lost your home. You who moved in with the kids to make ends meet. You who went on food stamps quietly in desperation.
Ned Beatty isn’t totally right here but there’s a good bit of truth in what he says. Regardless below is one of the greatest scenes in all of cinema and everyone should see it.