Goldman Sachs peddled junk the government allowed

THIS IS TRULY A BI-PARTISAN MESS...

Just follow the money to spot the culprit Sherlock ;)

Politics is the entertainment branch of industry." - Frank Zappa

& JUST TO ADD INSULT TO INJURY...

Goldman Sachs Evades Taxes, Takes Tarp Funds
http://open.salon.com/blog/anthony_m_freed/2008/12/18/goldman_sachs_evades_taxes...

Your Tax Dollars At Work: Government Sachs To Pay Record Bonuses
http://dailybail.com/home/your-tax-dollars-at-work-government-sachs-to-pay-recor...

Why are they so profitable? Evaporating competition.

A lack of competition and a surge in revenues from trading foreign currency, bonds and fixed-income products has sent profits at Goldman Sachs soaring, according to insiders at the firm.

And don't forget the highly-corrupted AIG payouts to counterparties at PAR, that were ordered by B-52 and the Federal Reserve. http://dailybail.com/home/liddy-on-aig-payouts-at-par-the-fed-made-us-do-it-vide...

And don't forget the highly-corrupted AIG payouts to counterparties at PAR, that were ordered by B-52 and the Federal Reserve. At least $13 billion of your tax dollars have gone directly to Goldman (not including TARP) via this AIG conduit. http://dailybail.com/home/liddy-on-aig-payouts-at-par-the-fed-made-us-do-it-vide...

And the AIG story is not yet finished.
http://current.com/items/89907177_a-i-g-paid-fellow-wall-street-casino-high-roll...

Also, the change to FASB 157 (mark-to-market- accounting) now allows them to fudge asset pricing on the balance sheet, thus eliminating pesky writedowns and improving earnings and therefore bonus payouts. http://dailybail.com/home/bail-out-barney-barney-http://dailybail.com/home/bail-...

Then we have FDIC-backed debt issued by Goldman saving the company hundreds of millions in interest payments. Not to mention the TALF and the myriad other Fed and Treasury liquidity programs in which they participate. Have I forgotten anything? The list of taxpayer largesse is so long it's difficult to keep straight. http://dailybail.com/home/lloyd-blankfein-sorry-seems-to-be-the-hardest-word.htm...

BOTTOM LINE ;)

Banks own the US government
There are smart ways to raise money and regulate the market, but Wall Street is working to kill any meaningful financial reform
http://www.globalresearch.ca/index.php?context=va&aid=14214

" Wall Street is now a Ponzi scheme, cotton candy spun by deranged monkeys." – Max Keiser
http://maxkeiser.com/

The Wall Street Journal Goes After Goldman and the Bank Bailout
http://www.huffingtonpost.com/arianna-huffington/shattering-the-right-vs-l_b_234...

Max Keiser: “Goldman Sachs Are Scum”

“They are literally stealing a hundred million dollars a day. Goldman Sachs is stealing every day on the floor of the exchange. They should be in the Hague, they should be taken on financial terrorism charges. They should all be thrown in jail”

CAN YOU SAY PLUTOCRACY ?
Plutocracy (plutarchy) is rule by the wealthy, or power provided by wealth.

In a plutocracy, the degree of economic inequality is high while the level of social mobility is low.

Executives Receive One-Third of All Pay in the U.S.

Between 1979 and 2006, the inflation-adjusted after-tax income of the richest 1 percent of households increased by 256 percent.
http://www.alternet.org/blogs/peek/141481/executives_receive_one-third_of_all_pa....