The Long Crisis

Posts Tagged ‘Goldman executives’

The big macho swinging dicks at Goldman Sachs are involved in creating yet another investment bubble. This time they are buying pistols and ammunition just in case the public gets a bit upset with the payout of what looks to be record year end bonuses. I expect that legal or not in addition to the pistols a few of those arrogant unrepentant knaves have a few automatic weapons stowed away. When your bonus payment is into the millions you can afford the very best.

Why would anyone be surprised that Goldman had a bang up year in 2009? Their good alumini buddy, the former Secretary of the Treasury hammering Hank Paulson, set them up with billions of dollars of nearly free taxpayer money in 2007 – 2008. This was followed by Tim Geither’s near giveaways in 2008 – 2009. This allowed the financial gurus at Goldman to go back to work and regenerate their devious front end running ways along with the worldwide marketing of junk securities to make bucket loads of money.

While main street America suffered with the kind assistance of the US government nothing much changed at Goldman Sachs and at their Wall Street friend’s firms. Except that they made even more buckets full of money.

The big question is why the man, President Obama, has rolled over so completely for Wall Street? Since the end of the world toxic asset scare it really has pretty much been business as usual on the Street. Goldman and other firms are still playing with ever larger fires in the use of over leverage and in the use of derivatives. And Obama and Congress only talk and posture about tightening up regulation. As a recent example, the financial services industry controlled the debate over the proposed increased regulation of derivatives and much to the industry’s glee it looks like the final bill was written by their lobbyists.

There are some who think that Goldman and the big banks have gained control of the US government. When you look at how the industry gets its way at the expense of the public it is hard to argue against the point.

When the year end bonuses are announced, as they will have to be for public companies, the government may once again have to come to the financial big shots rescue. However, this time around it may have to deploy the US Army, and not handout more taxpayer bailouts.

I doubt that as large as the Goldman Sachs bonuses will likely be if the firepower that can be generated by the firearms purchased by the Goldman executives will be enough on their own to hold off the desperate sure to be well armed mob. Those Goldman guys probably can’t manage to shoot straight anyhow. Once again they will run to their Uncle Sam for help.

Tweet This Post