http://www.examiner.com/x-3629-Philadelphia-Progressive-Examiner~y2009m7d16-With-friends-like-Goldman-Sachs-who-needs-enemies
*With friends like Goldman Sachs who needs enemies* July 16, 10:57 PM I don't know what ever happened to investigative journalism. Wall Street is robbing us blind and literally destroying the economic foundation of this nation. Where ever he is if Osama Bin Laden is watching surely he must be thinking no matter what I do to America I could never hurt them as much as the confluence of our own government and Wall Street. As Robert Reich notes, Goldman's is still wagering its capitol and funding giant bets with our money and after all the damage to us financially our complicit government has done nothing to change that. You would never know any of this because instead of the truth the press gives us the insanity of stories. Stories like John Ensign and Mark Sanford whose behavior as atrocious as you might think it is, has nothing to do with lost jobs or beginning to create a foundation for economic recovery. Or we breathlessly pretend that every detail of the pathetic and stupid questioning by the Senate of Sonia Sotomayer for the Supreme Court actually matters. This woman is not on the edge she is probably one of the best qualified of any nominee recently and once again does this recreate economic prosperity? Is this what we get instead of the whole truth? What the press ignores on purpose is that Goldman's is still successfully playing politics. Former Treasury Secretary Hank Paulson is a former CEO of Goldman's. Tim Geithner, when he was at the Fed in New York was little more than a compliant dupe. Our government is chock full of Goldman's alumni who move effortlessly back and forth between Government and Goldman's looting this nation. An example of this complicity between Government and the Wall Street looters is In the meeting where it was decided to bail out AIG. Geithner, Paulsen and the current CEO of Goldman's Lloyd Blankfein were all part of the decision making. The decision to bail out AIG meant a 13 billion giveaway to Goldman's because it had credit default insurance with them. Somehow Goldman's execs and Alumni guiding the Wall Street bail out policy wasn't considered conflict of interest by our press, who now breathlessly exclaim their awe at Goldman's recent record profits or should we call it what it really is record thefts. Paul Abrams in Huffington Post on July 15th called AIG a ponzi scheme so big that Bernie Madoff could not even match it. AIG had no cash reserves backing the financial products it agreed to insure. In the bail out it served as a conduit for 13 billion. Without the bail out that Goldman's helped engineer both would have been belly up. Instead Middle Class America is being bankrupted for profit because we are not too big to fail they are. Andy Kessler in The Wall Street Journal on July 16, 2009, noted that just about every move we have made has failed. We saved Bear Stearns. We let Lehman's go. We forced Merril Lynch, Wachovia, and Washington Mutual into other banks. We took control of Fannie, Freddie, and AIG and took over two car companies. We have a zero interest rate and have guaranteed bank debt. We set up TARP. When the banks refused to sell toxic assets for what they were actually worth we just went ahead and gave them the money. We are still in the economic toilet for all that money no matter how our leaders try to tell us it isn't so You can put perfume on B.S. but you know what, it is still B.S. Goldman's trader's have profited from taking advantage of openings left by our government aiding in reducing Goldman's competition. Goldman's is still depending on 28 billion in outstanding debt that is backed by the FDIC which means that in reality you and I are doing the funding of Goldman's high risk operations including speculating in oil futures for profit which takes even more money out of our pockets. It also might benefit you to know that whatever rise the Stock market has made has been made with one trillion dollars of our money that Ben Bernanke flooded the market with. Bernanke has been the market and it will be interesting to see when Wall Street traders have to use their own money and not your and my tax dollars whether they will be buying stock then. This is the so called green shoots they have been touting as proof their economic policy is working. Of course you haven't heard much about this because the press is too busy trying to anesthetize us with stupid irrelevant stories. The press has ignored on purpose, the fact that people are getting really wealthy by bankrupting Middle Class America and our elected officials are aiding and abetting this. None of our plight has been an accident it has all been done on purpose. The Wall Street economy has nothing to do with anything that directly affects the economy of Middle Class America. We receive no benefit from Wall Street. They don't even create jobs here any more. Our government doesn't work pure and simple. If we were told the truth we would and should be angry as hell. I guess I'm asking why aren't we ? __,_._,___ --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
