Thursday, April 22, 2010

Goldman Sachs in the Docks

  • "You distract the masses with a villain," says Marc Faber, suggesting "the civil fraud allegations against massive Wall Street bank Goldman Sachs was a smokescreen to divert attention from the financial crisis in the United States" — Claim That Goldman Probes Are Politically Motivated.

  • "Goldman is no guiltier than anyone else," notes Mike Whitney, suggesting "targeting the most hated bank on Wall Street" is "part of a strategy to pass Obama's reform bill or to give him a Teddy Roosevelt-makeover and to boost the Dems' prospects for the upcoming midterms" — Goldman Sachs' Bloody Nose.

  • "If Goldman has become a poster child for excessive power on Wall Street, the SEC might become a poster child for government power run amok," writes Sebastian Mallaby — In SEC vs. Goldman, who's really at fault?
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    Anonymous Steven P. Cornett said...

    Well, I have to suspect that this is, as some commentators put it, a prop. There is obviously no coincidence that Goldman Sachs, the company that contributed mightily to Obama and provided him his Treasury Secretary and Fed Chairman, is targeted just as he is working to get his Financial reform package made into law.

    I also have to suspect that the firm is in on this, and is going along to pass a bill they may well have partially wrote. Can't prove it, but it would be a casebook example of policy laundering.

    7:48 PM  
    Blogger The Western Confucian said...

    Even more sinister than I thought then, perhaps. Thanks for introducing a new term.

    9:43 PM  
    Anonymous Walt said...

    Goldman started contributing to the Obama campaign when Obama began singing a different tune about financial regulation towards the end of the predsidential race.
    Don't forget also who John Paulson hired in January 2008 as the financial system derailment picked up speed. The man who told Congress in the fall of 2008 that he needed to rethink his economic models and ideas in the wake of this crisis that nobody could see coming, yet whose new boss John Paulson made out pretty well with his financial advice...Alan Greenspan!

    4:04 AM  

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