What a $200/Barrel World Looks Like

Annoying too. The thing is that I don't think that yesterday's hearing even scratched the surface of the maleficence that went on and how adversely it affected the general public.

Blankfein is buffoon.

 

I haven't been watching too closely but I'm not convinced he isn't being scapegoated on this. Did anyone expect anything less than a ruthless, unemotional, angle-playing motherfucker at the top of Goldman Sachs? That's kind of the job description, right?

Why wouldn't they have created a hedge against the housing market collapse? To Goldman that probably comes under the heading of good risk management.

Fabby Fab (or whatever his name is), on the other hand, should be put away for good. He'll make a nice "wife" for someone in prison.

 

Damn, that was pretty funny.

Who wrote that for you boom?

 

I just saw this thread and thought, "Hmm. I wonder who started this thread." ;D

I'm going to have to go back and read the article and read more about the Goldman thing.

 

And that's why these hearings are a sham. Until people get cuffed and walked out of their offices wiith a raincoat over their head, it means nothing. So Blankfein gets to screw the financial system, American Taxpayer and still gets his $9 million bonus. Good work if you can get it. (doesn't just go for Blankfein, but he is the one most in the public eye right now).

 

That oil they pull out of the ground still has to be processed, right? Does that come to the US for processing and if so, how much cost that put onto the price of oil?

 

The sham is that Congress/ Bill Clinton created problem in first place by repealing Glass Steagall and putting into law Commodities Modernization act. Interesting that Bob Rubin was Sec of Treasury at time.

 

Wait, I thought it was all George Bush's fault.

 

Clinton was almost as bad as a Republican when it came to business and labor issues but the deregulation push goes back to the Reagan administration. Both parties are in bed with big business, which is why even this financial regulation bill is going to get watered down by the lobbyists who are busy writing it as we speak.

 

Glass Steagall and Commodities Modernization act made it all possible - both signed into law by Clinton. Goldman could have never made those trades otherwise. Enron would not have happened either.

 

More oil found in North Dakota. That's what the state needs, more money, but not enough housing.

http://www.businessweek.com/ap/financialnews/D9FCT2F80.htm

 

Oil and nukes? Shit, they should secede.