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"Goldman Sachs are scum"

Fri, 07/17/2009 - 1:15pm — a little night ...

[Welcome, Naked Capitalist readers! -- lambert]

Part 2:

Hat tip Susie

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He's talkin sense, Merle!

By lambert on Fri, 07/17/2009 - 2:19pm

Just listen to whole thing!

Of balance sheets:

"On the left side, nothing is right. On the right side, nothing is left."

Left is assets, right is liabilities

Transcript! Transcript!

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"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi

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Eliot Spitzer on Goldman Sachs

By Davidson on Fri, 07/17/2009 - 3:42pm

Zero Hedge.

EDIT: Here's the video

I've always laughed at how people continue to say that Goldman Sachs "earned" theses staggering "profits." They fucked up the economy, took tons of money from the government (while their competitors were left to fail or not supported as excessively), and then instead of using that money to help the economy (remember that was the entire point), they use it to increase their leverage in the market and pay out insane bonuses to the very people who helped destroy that market and our entire economy.

Goldman Sachs is living the life while our economy is still fucked the hell up thanks in large part to them. But hey, they paid back a fraction of the entire amount of money the government has handed to them (Note: we have to consider the "profits" GS got when the government refused to bail out their competitors and the money the Fed has handed over to banksters that is still shrouded in secrecy).

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Spitzer

By cal1942 on Sat, 07/18/2009 - 1:21am

Can't help but thinking, while listening to Eliot Spitzer, what a sharp decisive President he would have been.

Instead, we got ...

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Or just to have been the NY gov during the econ meltdown might

By jawbone on Sat, 07/18/2009 - 10:26am

have made a difference. He was clearly taken out and the Bush DOJ had the goods and used them. If they did that so fairly obviously, what else did they do to stronger Dems?

They took down Siegelman and Sptizer. Who else?? (Now, where did I put my foily hat....)

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I'd bet the Bush DOJ were willing tools

By lambert on Sat, 07/18/2009 - 11:50am

I'd be very surprised if it weren't the finance industry that did it. No evidence, just that, well, they're scum.

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"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi

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If the truth could be known

By cal1942 on Sat, 07/18/2009 - 10:01pm

I'd bet the bank that some Wall St players hired PIs.

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And used NSA intercepts

By lambert on Sat, 07/18/2009 - 10:03pm

Right?

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"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi

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On balance sheets...

By lambert on Sat, 07/18/2009 - 8:16pm

Quite late in the video (from the Euro guy, whoever he is):

"On the left side, nothing is right; and on the right side, nothing is left."

That actually sums up our political situation as well...

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"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi

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