Why Goldman Sachs Is the Greediest and Most Dastardly of the ...
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Saying that such-and-such is the greediest bunch of bankers on Wall Street is like someone claiming to have the biggest hairdo in Dallas -- the competition is fierce. But that's quite a head of hair atop Goldman Sachs. Well, sniff the executives, we merely play the game according to the rules we're given.
Sure, and the Mafia plays its game strictly according to Hoyle. The difference is that the Mafia must actually break the rules, while Wall Street simply hires lobbyists and politicians to write the rules.
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Indeed, Goldman Sachs has been nicknamed "Government Sachs" by its rivals, for it always seems to have at least one of its top officials strategically placed inside government to bend federal financial rules to its benefit. In the 1990s, for example, two Goldman foxes -- Robert Rubin and Larry Summers -- were inside the Clinton administration henhouse, where they helped craft the deregulation scams that enriched their former banks, before the scams caused the crash of our economy.
Following that crash, up stepped Hank Paulson, who had been Goldman's CEO before George W. plucked him off the Street to run the very bailout that has now deposited so much of our money in his bank. With Bush's demise, Hank is gone, but not Goldman. That sly Goldman Fox from the Clinton years, Larry Summers, is back, this time in Barack Obama's henhouse, where he's top economic advisor.
Not surprisingly, our gold keeps flowing to Goldman Sachs -- but don't expect the bankers to be grateful to you.
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