Taming the Vampire Squid: Take back our banks


There has to be a sick squid joke in there someplace… :angry:

The People vs. Goldman Sachs - Matt Taibbi → rollingstone.com/politics/ne … s-20110511

Great article.

He’s fairly nailed them with that article.

The congressional report he refers to:

WALL STREET AND THE FINANCIAL CRISIS: Anatomy of a Financial Collapse
hsgac.senate.gov/public/_files/F … Report.pdf - PDF

He sure did. The Senate report that Taibbi based his article on has been out a while and was pretty much ignored.

But now his article has drawn attention to it…

My money - and everyone else’s apparent disinterest - is on nothing happening.

How insane is it that a Rolling Stone article gets more traction than a Senate report?

That one made me laugh out loud.

P396 of the report.

It’s stonking reading. Not that anything will happen. Maybe a few sacrificial bloodlettings.

It’s over 600 pages long. Jesus, far easier to cut and paste from press releases.


I forgot how journalism worked!

Guess that’s why no one saw the GFC coming - no press release.

Sure our man would be wise to that time of tomfoolery.


An alternate view:

Horseshit response. That is one damning bagful of shite that the committee uncovered.

I cant decide whether its more depressing that:

  1. The open excessive misrepresentations will largely go unpunished
  2. We’ll never even get to the stage of setting out in such graphic detail the clarity of management’s knowledge of their fucked positions that our banks found themselves in in 2007 never mind prosecuting the fuckers.
  3. Lenihan and Cowan were in charge. Jesus when you think about it…

GS doesnt need to be tamed, rather thrown off the bridge in a bag.

As you say “an alternative view”. However it doesn’t rebut any of the specific instances of skullduggery by Goldman’s referenced in the Senate report and is therefore not all that pertinent to the question of whether they have a case to answer in court or not.

It is perfectly possible to argue that while the financial crisis was not ultimately caused by financial fraud, Goldman Sachs nonetheless did things for which they should be held accountable by the law.

bloomberg.com/news/2011-05-2 … -says.html

bloomberg.com/news/2011-05-2 … arget.html

dealbook.nytimes.com/2011/05/23/ … -play-out/

bloomberg.com/news/2011-06-0 … eport.html

gawker.com/5808567/couple-attemp … -furniture

rollingstone.com/politics/bl … n-20110607
(Courtesy of Naked Capitalism)