Matt Taibbi is turning out important, dynamic journalism at Rolling Stone month after month lately, and his new article brings up the same question that some of his recent work on the financial meltdown did: Why are these people not going to jail?
But Goldman, as the Levin report makes clear, remains an ascendant company precisely because it used its canny perception of an upcoming disaster (one which it helped create, incidentally) as an opportunity to enrich itself, not only at the expense of clients but ultimately, through the bailouts and the collateral damage of the wrecked economy, at the expense of society. The bank seemed to count on the unwillingness or inability of federal regulators to stop them — and when called to Washington last year to explain their behavior, Goldman executives brazenly misled Congress, apparently confident that their perjury would carry no serious consequences. Thus, while much of the Levin report describes past history, the Goldman section describes an ongoing? crime — a powerful, well-connected firm, with the ear of the president and the Treasury, that appears to have conquered the entire regulatory structure and stands now on the precipice of officially getting away with one of the biggest financial crimes in history.
This article appears in May 12-18, 2011.
The scope of the crimes that Goldman Sachs has done will boggle your imagination. Not only were they central in our economic collapse but many people dont realize their close association with British Petroleum. Thats right, BP. The company that ruined the gulf coast with the largest enviromental disaster ever.
Peter Sutherland holds the concurrent position of deputy chairman of BP AND is Board Chairman of Goldman Sachs International. see here
http://www.bp.com/genericarticle.do?catego…
Interestingly, Goldman also sold 44% of their entire BP stock holdings worth almost 100 Million right before the gulf oil spill. This is in addition to a large portion of BP’s senior management selling significant amount of stock right before the disaster.
If that’s not enough, the plot thickens. Halliburton, which is also BP’s partner in the doomed rig bought the largest remediation company in the gulf region just a month before. They are a significant financial benefactor of the money spent in the clean-up.
I will say these guys have impeccable timing or knew something. You decide