RSAAKS

Unwinding the Goldman Sachs Myth

I did not find any examples of Goldman's actions which would make me believe your conclusion. Yes, they have taken money from AIG, and have sent many employees on Fed's payroll. But how are they forcing people to consume more or borrow more? I fail to see your point, at least from this article, and fail to see what editor's like so much in it.

Credit Card Crunch: Creating a New Generation of Subprime

when banks are allowed to charge 25% interest against their cost of funds at less than 3-4%, greed overtakes and reckless lending begins. That is what we had in last few years, every month there were on average 30-40 card offers in my bail box. Many in my shoes probably had those cards issued and will never be able to pay using 20+% interest rate. Greed could only go so far. Perhaps banks will learn to loan money to those who have HIGH probability of paying heir loans, and charge a reasonable rate for it. Those who can pay will not accept 25% rate, those who cannot pay, it is not worth charging any rate-meaning no loans.