On Fri, Mar 27, 2009 at 11:40 AM, Louis Proyect <[email protected]> wrote: > Next to AIG, Goldman has borne the brunt of populist fury.
Interesting writeup. But I wish the above was true! It seems to me that Goldman-Sachs have, for the most part, escaped populist fury. They made a big deal out of still being profitable in 2008 and their executives managed to sidestep outrage over bonuses unlike Merill and others. They along with JPM-Chase are touted as role-models who managed to avoid the mistakes of their peers. This is all complete garbage on so many levels. Their profits resulted from being beneficiaries of huge sums of bailout money, directly through TARP or indirectly (possibly fraudulently) through AIG, massive mark-to-model Level-3 assets and preferential treatment from the Fed and Treasury. As to whether they are better than the rest of Wall Street: who cares. It is like being the smartest in a room full of retards. The fact that they are able to get away with it is to me the most disgraceful aspect of this whole crisis. -raghu. -- Seeing is deceiving. It's eating that's believing. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
