NYT: Goldman Sachs Get Huge Profits Off My Hard-Earned Tax Dollars

October 15, 2009 at 2:08 pm Leave a comment

The New York Times today reports that Goldman Sachs earned $3.19 billion dollars this last quarter.  The reality is that Goldman Sachs got wealthy on our hard-earned tax money.  And personally, I resent Goldman Sachs a lot but not like the guy who melted down in the following two Youtube clips.

Oh, here is the link to the report discussed by the professor in the video.  The referenced report discusses how to properly invest resources in the subprime mortage crises.    Therefore, the report shows that Goldman had knowledge that crises was going to be good.

In reality, Goldman Sachs made its profit from the America’s system of corporate socialism.  Goldman made all of the smart moves and therefore, reaped a huge profit. 

In the banking fiasco, the winner was the corporation that had the most connection in government.  Max Kessel points out that Goldman Sachs had several government officials on its payroll.

The real blame for this mess should not be on Goldman Sach’s, but on the government officials that used their office to enrich the former corporations.  This is a classic example of the revolving door and why I think America is a socialist state.  American is not a democratic socialist state, but a corporate socialist state.

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