Sunday, October 18, 2009

Crony capitalism is our Vietnam War

Jesse passes on this CNBC tidbit, which explains how ex-Goldman Sachs operatives embedded in the US regulatory systems gave GS $70 billion just when nobody else had cash, so GS could buy up assets at fire sale prices and make monstrous profits at the taxpayers' expense. Truly, it's us against them, but all we can do is wave our placards as their limos cruise by.

7 comments:

  1. James Higham17 October 2009 at 19:56

    Crony capitalism - that's a nice clean way to describe it.

    ReplyDelete
  2. dearieme18 October 2009 at 00:45

    I've invented an all-purpose headline for GS stories:-
    "Too Big To Foil".

    ReplyDelete
  3. Sackerson18 October 2009 at 09:05

    Not my phrase, James, I don't think.

    DM: tres droll; apt.

    ReplyDelete
  4. hatfield girl18 October 2009 at 11:14

    We won't see the helicopters leaving the embassy roof.

    ReplyDelete
  5. Sackerson18 October 2009 at 14:39

    It's an image that appeals, though, HG: a fat, pinstriped backside wiggling about as pink hands grasp the heli's rail...

    ReplyDelete
  6. deano3021 October 2009 at 17:04

    You guys are very tolerant. You should read the reactions on the other side of the Atlantic.

    http://www.guardian.co.uk/business/2009/oct/21/executive-pay-bonuses-goldmansachs?commentpage=5

    ReplyDelete
  7. Anonymous21 October 2009 at 19:51

    the guardian prints another commentary to facilitate the two minute hate-fest, gives the posters a chance to let off steam. . . same old same old, pretty much the same commentary as was seen at the beginning of 2009. . .some still calling for taking their money out of the banks, or taking it to the streets.

    that people still reward the system by USING it (fractional reserve?? you're still in a BANK??) really says it all.

    there will be no "revolution" in the streets, just more angry, bitter online posts.

    the real revolution is individuals dis-engaging from the system that is designed to exploit - everything else is playing their game.

    thanks for the vid-clip posted here - I don't have / watch TV, so these "excerpts" are a way of watching it all go down.

    ReplyDelete

Unfortunately, because of a plague of spam comments, you need to be a "registered user", otherwise your observations will be buried in a torrent of multilingual nonsense. Please do comment!

Say what you please, so long as it's phrased politely and is not libellous or legally proscribed. Fact, reason and wit are keenly welcomed.