The Unbearable Lightness of Goldman Sachs

A Goldman (GS) spokesman said...that the firm was 
never imperiled by AIG’s (AIG) troubles and that
 Mr. Blankfein participated in the Fed
discussions to safeguard the entire
financial system, not his firm’s own interests.

I think we’ve reached the point where somebody really needs to go to jail. And 85 Broad would be an excellent place to start rounding up a few of the usuals.

Behind Insurer’s Crisis, a Blind Eye to a Web of Risk

by Gretchen Morgenson

Comments

[venividivici:]

America is a plutocray and croney captialism and socialism for the rich are two of its salient features. As this financial crisis deepens, so these features seem to get more pronounced. It is terrifying to contemplate where all of this is heading but "disaster" is the word that comes to mind.

2008 Sep 28 08:26 AM

[PeteK:]

It will be really a "disaster" if nothing is being done.
It's like a leaky roof, fix it one patch at a time.

2008 Sep 28 08:39 AM

[Rumpole:]

Unfortunately when the repairman went up to patch up the roof, his hammer broke threw the rickety framework to expose a nest of rats living in the attic.

2008 Sep 28 02:49 PM

[helplessobs...:]

I think the current Secretary of the Treasury had a big role in pumping out all the toxic bonds and then smiled at his bonus.

2008 Sep 28 04:55 PM