We Don't Care. We Don't Have To Care. We're Goldman Sachs.

Goldman Sachs has openly, blatantly gone back to business as usual, knowing they will be bailed out by taxpayers if their high rolling gambles don't work, and they don't care who knows about it.

The reason they can be so breathtakingly arrogant, so stunningly cavalier about not giving a damn about things that any other company's PR and government relations department would advise them against, is that they know they have the power to do anything they want to do. The Obama White House needs to take Goldman Sachs to the woodshed rhetorically, and they should have the Justice Department investigating them for anti-trust violations and all manner of stock manipulation. It is time to start squeezing the management at Goldman, and making them nervous about being broken up into pieces that are not too big to fail.

Here's (with brief intro) Matt Taibbi, Rob Johnson, and myself taking about Goldman Sachs on what is rapidly becoming my favorite media program for discussing economic issues, GRITtv:

Comments

[brklynivn]

Break it up, if it's too big to fail, than it is just too damn big.

[northstar11]

if it could happen to at&t why not goldman

[Ben6768]

Good article by Mr. Lux.

Bill Clinton : trusted Rubin and Summers : " what is good for Wall Street is good for America "
G.W. Bush : continued on the same path, and started ruinous wars
Obama : put the final nail in the coffin of America´s economy by placing Summers and Geithner in charge, and declaring Goldman Sachs, AIG and the Healthcare Mafia untouchable and above the law.

In 100 years, if the U.S. is a second - world country : Clinton, G.W. Bush and Obama will be mentioned in the same sentence, all bunched together

[abulafia]

Well out, Ben.

[cheaplazymom]

I am a nice liberal peacenik and it is amazing to me how much I HATE these guys. I abhor torture and yet I want them to feel PAIN. Anything to knock them down a few pegs. They have no heart, no shame, no sense of decency, no love of country. It just kills me that they, in fact, run the country and that the government and the people serve them. How did we let this happen again!!

[danzbassman]

I agree. I tend to think violence is usually not the answer. But there is a big part of me that wouldn't mind seeing a few CEOs hanging from the streetlamps of Wall Street.

[WorkingClass]

Thank you and lazy mom for having the courage to speak openly. We the people are on our own and its time we put what once was our government on notice. No more Mr. Nice Guy.

[Ben6768]

At least they should be all rounded up and marched in their underwear to detention centers like basketball courts, football stadiums etc like cattle, and then processed.
Then they would work in a special chain gan out there asphalting roads, so that people that pass by can insult them and let them know how they feel.

I hate these people : the most antiamerican, evil, and inmoral. And to think that I voted for Obama, and now Obama, Summers and Geithner get on their knees and shine the shoes of Goldman Executives.

How many divisions do Goldman Sachs have ? just freaking organise a march of angry Americans and go get them

[WorkingClass]

BRAVO! Spoken like a true patriot.

[SILVANUS]

Indeed!!

[northstar11]

""""the price of freedom is eternal vigilance""""...--------the country got too fat lazy and comfortable-----

the vigilance level dropped too far-----way too distracted with "whose tougher on crime" etc.

[KBTD]

You said it so much better than I could. I feel exactly the same way. Its very frustrating. How did we let this happen again, indeed.

[frontman9000]

Goldman Sachs reminds me of that movie "The Advocate" that starred Al Pacino and Keanu Reeves with Al Pacino playing the role of Satan incarnated as the boss of the most powerful law firm in NY. His character carefully manipulates people and events to his ultimate advantage and their ultimate demise.

Looks like GS fits the mold perfectly....Life imitating art.

[HamletsMill]

Yep. This scene nailed it. Goldman Sachs is run by The Devil Incarnate! Man, Ioved Al Pacino in this! What a hoot! What fun he must have had each day on the set!

[Economike]

It is time to start squeezing the management at Goldman, and making them nervous about being broken up into pieces that are not too big to fail.

I Love this sentence.

[hardrain77]

Audit the Fed and you'll see the tentacles of Goldman Sachs to the conflicts of interest at the Federal Reserve and take all these creeps down.

[abulafia]

The Comptroller of the Currency/Administrator of National Banks released its "Bank Trading and Derivatives Activities First Quarter 2009" report yesterday which said, among other things, that
derivatives contracts "remain concentrated in interest rate products" representing 84% of total derivative notional values." What is a "notional value"? It is a "notion" or guess of what future interest rates will be. These values decreased by 8% during the quarter. The U.S. banking system is still dominated by a few large financial institutions because of "the specialized business of structuring, trading and managing derivatives" requires "sophisticated tools" and the kind of expertise in these matters that only experienced financiers are able to handle. Even though the OCC and other advisors have on-site examiners at these institutions, the fact is that it's business as usual.
Coupled with banks' $9.8 billion up-tick in investment revenues and recognizing that derivatives--which are what the mortgage stocks were that brought us to this economic crisis--are the most risky of investments, it seems that we're stuck with greedheads.