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Earnings Summary: Goldman Sachs Shows Impressive Profits
Oh come on, Jordan. Matt Taibbi blew the whistle on Goldman Sachs a long while back in his Rolling Stone article. Everyone who has been following that story EXPECTED Sachs to clean up on all of that political influence trading. They were extremely well positioned to make a killing off of all the chaos they caused in the market by inflating and popping all those bubbles.
But it gets worse: China is annoyed (I'm trying to keep this G rated, "annoyed" only begins to describe their reaction to the econocataclysm that Sachs created by pushing those junk mortgage securities. They're worried about being overexposed to Dollar inflation. Wouldn't you be?) and they just had to fire TENS OF MILLIONS of workers. So much for "Free Trade".
Jul 16, 2009. 06:37 PM
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