Goldman Sachs has played a crucial role in creating every market bubble since the 1920s — and has profited from not only the bubbles, but from the crash that followed as well, says a new expose in Rolling Stone magazine.
I have a handful of stocks outside my major holding, but after observing what “corporate guidance” gets you in the age of Enron, Lehman Brothers, GM et al, I’m thinking of liquidating what’s left of my money. The culture of greed – with fortunes built on the backs of those doing the hard work so the white-collar fiends can afford their summer homes – reminds me too much of pre-Revolutionary France. I’d hoped that the current Global Economic Crisis would’ve knocked some sense into them, but as usual it’s just the “moved and the shaken” who bear the knocks: The repugnant Goldman Sachs sees it as a Global Economic Opportunity, I suppose.