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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.
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7 comments:
Crony capitalism - that's a nice clean way to describe it.
I've invented an all-purpose headline for GS stories:-
"Too Big To Foil".
Not my phrase, James, I don't think.
DM: tres droll; apt.
We won't see the helicopters leaving the embassy roof.
It's an image that appeals, though, HG: a fat, pinstriped backside wiggling about as pink hands grasp the heli's rail...
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
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.
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