"Suck on Our Yachts": Goldman Sachs Issues Non-Apology for Destroying the World Economy

AlterNet, True/Slant by Matt Taibbi | Jun. 22, 2009 (Opinion)
Goldman Sachs chief Lloyd Blankfein says he's sorry, then proceeds to brag about screwing us all.

Goldman is bragging about the fact that it actually made money while it was pumping the economy full of explosive leverage. While companies like Lehman and Bear were dumb enough to actually eat their own rat meat, Goldman knew what it was doing and was careful to bet against the same stuff it was selling, which makes its behavior many times worse than that of other banks, not better. Full Story »

Posted by Dwight Rousu

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Subjects: Business
Topics: Finance
Member Tags: Goldman Sachs
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Posted by: Posted by Dwight Rousu - Jun 22, 2009 - 8:29 PM PDT
Reviewed by: Dwight Rousu (review), Randy Morrow (review), Tanya J. Maurer (review)
Content Type: Article
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Edited by: Dwight Rousu - Jun 22, 2009 - 8:29 PM PDT
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4.0
 by Dwight Rousu - Jun. 22, 2009

Taibbi again clearly portrays a three tiered chain of deception and bragging about it on the part of Goldman Sachs. His clear insight and acid language provide a unique touch.

when Goldman says it is proud that it “managed the risk” for its clients, what it’s really saying is, “We’re proud that we kept the extreme ... More »

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4.5
 by Randy Morrow - Jun. 23, 2009
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4.2
 by Tanya J. Maurer - Jun. 26, 2009
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  • Report: Goldman Sachs on Pace to Pay Out Record Bonuses this Year

    Democracy Now, The Guardian by Nomi Prins, Amy Goodman, Juan Gonzalez | Jun. 22, 2009 (News Analysis)
    (Video) The Guardian newspaper reports staff at Goldman Sachs can look forward to the biggest bonus payouts in the firm’s 140-year history after a spectacular first half of the ...
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