What a $200/Barrel World Looks Like

cranberry · Apr 29, 2010

Boom_70 said:

cranberry said:

Boom_70 said:

Brooklyn Bridge said:

cranberry said:

Boom_70 said:

Blankfein is buffoon.
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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.
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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).
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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.
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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.
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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.
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Gramm-Leach-Bliley passed the Senate, 90-8. The only people who voted against it were Sens. Byron Dorgan, Barbara Boxer, Barbara Mikulski, Richard Shelby, Tom Harkin, Richard Bryan, Paul Wellstone and Russ Feingold. This wasn't a Clinton thing; it was a colossal fuck-up by a political system taken over by big business.

Football_Bat · Apr 29, 2010

If Clinton had signed Glass-Stegall, we'd really have a story.

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What a $200/Barrel World Looks Like

cranberry Well-Known Member

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What a $200/Barrel World Looks Like

cranberry Well-Known Member

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