About Goldman Sachs, the Exemplar of our Financial System

The stories about Goldman Sachs seem to be arousing outrage, as deeper but more abstract analysis has not.  As the saying goes, “It’s Goldman’s world; we just live in it”.

While Goldman is just one firm, it is first among equals in the financial sector and among the most successful of exploiting the current US political regime.  Hence the focus on it is well-deserved and illustrative of broader truths.  These two articles are both important and IMO should be read in full.  These are sparks from the firestorm Taibbi ignited with “The Great American Bubble Machine“, Matt Taibbi, Rolling Stone, 9-23 July 2009.

  1. The Joy of Sachs“, Paul Krugman, op-ed in the New York Times, 16 July 2009
  2. The real price of Goldman’s giganto-profits“, Matt Taibbi, 16 July 2009, True/Slant, 16 July 2009

At the end of this post are links to other valuable articles on this theme.  The following is not yet news, but probably coming soon (no excerpt):

Excerpts

(1) The Joy of Sachs“, Paul Krugman, op-ed in the New York Times, 16 July 2009 — Excerpt:

(more…)


Originally published at Fabius Maximus and reproduced here with the author’s permission.

2 Responses to "About Goldman Sachs, the Exemplar of our Financial System"

  1. Little Saver   July 23, 2009 at 1:28 am

    Dig their secrets up, it is time to stop them from being the incorporation of the financial dictators sucking gigantic resources away from more useful applications by and for the broader society.

  2. bahmi   July 24, 2009 at 8:21 am

    Yeah, “I want it done yesterday”, then, “Well, it’s OK to get it done this fall”. More wizdums from the Great Leader.