Was the public disclosure of the bank stress tests delayed so Goldman Sachs could raise capital? Is national policy managed to serve one private investment group’s convenience? As the disclosure and fiduciary laws related to protecting the rights of existing creditors and shareholders were violated in Bank of America’s purchase of Merrill Lynch, are the disclosure rights of new bondbuyers to be violated for Goldman Sachs? How can investors price a security if the Wall Street-Washington axis are free to manage material omissions for the purpose of fleecing them? And if price has no meaning, what then?
- Goldman Bond Sale Raises Questions—Financial Times (30 Apr 09)
- Follow the Money—Catherine Austin Fitts Blog (4 Nov 08)
- Goldman Sachs Hires Barney Frank Staff To Be Its Lobbyist—EconomicPolicyJournal.com (29 Apr 09)
- How Goldman Sachs Took Over The World—The Independent (22 Jul 08)
Dear Mark and Gerry,
Perhaps both of you have your heads in the sand.
One day our children will look back in anger and utter disbelief at many too many leaders and followers in my not-so-great generation who had the chance at least to try and mitigate the fully expected damages of pollution, climate change, environmental degradation, resource dissipation, biodiversity extinction and overpopulation but abjectly failed because we chose to play around the edges of the global challenges before us and refused to take demonstrably responsible action in the face of clear and present dangers. Sacrifices of ‘sacred cows’ and ‘golden calves’ often associated with being honest, earning wealth, exercising moral courage and making necessary changes were too damn hard for so soft, satisfied, sanctimonious and selfish a generation of leading elders, I suppose.
Gerry, good statement. Lots of kool aid drinkers pulled the lever for Chairman Mao-bama & socialism. More than likely time for a name change. The USSA. The United Social States of America.