Goldman Sachs: America’s Vampire Squid

A great thorough article on the investment bank Goldman Sachs, which Matt Taibbi calls a vampire squid, meaning that it feeds upon our society to live and has got its tentacles all over the place.

By now almost everyone knows that for decades mortgage dealers insisted that home buyers be able to produce a down payment of 10 percent or more, show a steady income and good credit rating, and possess a real first and last name. Then, at the dawn of the new millennium, they suddenly threw all that shit out the window and started writing mortgages on the backs of napkins to cocktail waitresses and excons carrying five bucks and a Snickers bar.

The way that these large banks are behaving is inherent to capitalism run amok. Instead of trying to regulate these banks, the US government has been pushing to deregulate them. There’s just so much that is wrong with this picture that I’m almost speechless.

It’s the prime example of why these banks are the epitome of capitalism gone wrong, a perfect example of overwhelming greed. These types of institutions will just continue doing what they’re doing until someone stops them.

0 Responses to “Goldman Sachs: America’s Vampire Squid”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




subscribe to feed

About

ranjitwithkinginbehand.jpgI'm Range, your host. On the menu, photos, art, stories, entertainment and reviews. Links, maths, education and social issues. I'm in Quebec (Canada) or Taiwan (R.O.C.). Follow me on Twitter.

click to subscribe to The Memoirs & receive updates by email.

Join 1,411 other followers

@djrange: my tweets

channels

archives

del.icio.us

translate the memoirs

copyright notice & disclaimer

Please view the full disclaimer and copyright notice here
free web tracker

© 2006-2012 Range all rights reserved


Follow

Get every new post delivered to your Inbox.

Join 1,411 other followers

%d bloggers like this: