The People vs. Goldman Sachs

To recap: Goldman, to get $1.2 billion in crap off its books, dumps a huge lot of deadly mortgages on its clients, lies about where that crap came from and claims it believes in the product even as it's betting $2 billion against it. When its victims try to run out of the burning house, Goldman stands in the doorway, blasts them all with gasoline before they can escape, and then has the balls to send a bill overcharging its victims for the pleasure of ... Full Story »

Posted by Paul Belle-Isle - via Real Clear Politics, Columbia Journalism Review, Shakthi Sivanathan (t)
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Posted by: Posted by Paul Belle-Isle - May 12, 2011 - 2:19 AM PDT
Content Type: Article
Edit Lock: This story can be edited
Edited by: Fabrice Florin - May 15, 2011 - 2:00 PM PDT
Paul Belle-Isle
4.4
by Paul Belle-Isle - May. 16, 2011

Taibbi memorably covered Wall Street malfeasance in general and Goldman Sachs misdeeds in particular in his book "Griftopia" to excellent effect. This article serves as somewhat of a follow up, and contains specifics about the manner in which Goldman has broken the law. The author is considered by many - including myself - to be the heir to Hunter S. Thompson in his writing style, but it is important not to be put off by his occasional profanity or gonzo descriptions; Taibbi is a first rate investigative journalist who deals in facts, and this article is no exception.

To recap: Goldman, to get $1.2 billion in crap off its books, dumps a huge lot of deadly mortgages on its clients, lies about where that crap came from and claims it ... More »

See Full Review » (11 answers)
Bob Herrschaft
4.3
by Bob Herrschaft - May. 16, 2011

...the Goldman Sachs scam...entertaining enough to make you cry! Taibbi's gift for raw colorful analogies compliments Michael Lewis's gift for irony in dealing with the same subject. Here, he goes a little further and questions what will become of the painstaking work that came from the Levin report that did so much to expose the ruse behind a giant Ponzi scheme.

To recap: Goldman, to get $1.2 billion in crap off its books, dumps a huge lot of deadly mortgages on its clients, lies about where that crap came from and claims it ... More »

See Full Review » (12 answers)
Randy Morrow
4.2
by Randy Morrow - May. 16, 2011

Translation: Thanks for letting us ignore all those pesky regulations while we turn the staid underwriting business into a Charlie Sheen house party. Goldman and the ... More »

See Full Review » (11 answers)
Dwight Rousu
4.9
by Dwight Rousu - May. 16, 2011

What Paul said... As good as Gonzo.

Fire Holder and get a prosecutor who functions.

They weren’t murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an ... More »

See Full Review » (13 answers)

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  • Goldman Sachs Executives Lied To Their Customers And Congress

    (Video) Taibbi argues that Goldman Sachs executives lied when they testified in front of Congress in the aftermath of the crisis. Unlike other commentators who grouse about how Wall ...
    Posted by Dwight Rousu