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July 17, 2009

Congress should be ashamed

For its back-slapping joy upon passing the TARP bailout bill last fall.


The Goldman-Sachs Re-inflation Act overjoys its campaign-funds recipients

Remember last fall when members of Congress were being told "there would be martial law in America if [they] voted no"? Well, it turns out that real risk was that Goldman-Sachs would not be able to continue to rule the world.

"Breathtakingly arrogant," according to Mike Lux, "they should have the Justice Department investigating them for anti-trust violations and all manner of stock manipulation," he wrote at Huffington Post today.

See this stunning segment from Grit TV w/Laura Flanders including Lux, Matt Taibbi, and Rob Johnson:


Posted by The Owl at 16:11. Filed under: Economy

Comments

Krugman: "The Joy of Sax"
http://www.nytimes.com/2009...

"The business of moving money around, of slicing, dicing and repackaging financial claims, has soared in importance compared with the actual production of useful stuff."

"What?s clear is that Wall Street in general, Goldman very much included, benefited hugely from the government?s provision of a financial backstop ? an assurance that it will rescue major financial players whenever things go wrong."

Posted by The Owl on July 17, 2009 at 16:19
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