Sunday, October 18, 2009

Goldman Sachs, the "Magician"?

Yesterday I posted the view of a conservative economist's analysis of Goldman Sachs.

Here is another, this time, from the Main Street media commentator, Dylan Ratigan, an ABC Radio host, who correctly analyzed how Goldman Sachs made its money.

Read here.

The math is straightforward: US taxpayers lent Goldman Sachs a lot of zero cost money with which Goldman Sachs speculated at little risk to themselves and made billions. Without US public help, the firm would have gone under. So the question remains as always: how come taxpayers didn't get the sort of returns on THEIR investment Goldman Sachs partners and senior executives are now getting theirs? Goldman Sachs reports record earnings AND will hand out record bonuses!

Here is another "get Goldman" view from Frank Rich of the NY Times, who represents a "left of center" view here.

Frank Rich complained about Tim Geithner being tone deaf. What is even more amazing is how tone deaf Obama is!

Ex Czech president Vaclav Havel, writer and prisoner under the former communist regime, who many believe should have received a Nobel Peace Prize long ago, recently was asked by Maureen Dowd about his views of Obama, the Nobel Peace winner. Obama had just declined to meet the Dalai Lama, another Nobel Peace winner. It is the first time any US president has done so under pressure from Beijing -- the single largest creditor to the US economy holding US IOU papers. Here is what Havel said:

...“It is only a minor compromise,...But exactly with these minor compromises start the big and dangerous ones, the real problems.” ...

The whole article is here.

The time is long due to reconsider Obama's famous saying: "Yes We Can!". Perhaps it should read: "Yes We Bend!"

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