Why Goldman Sachs is being Villified

Must Read

Jio Pages: The Indian Browser Reliance Is Betting On Now!

Looks like Reliance wants to establish Jio as a synonym of technology. After launching a fleet of...

Reliance Future Group Deal In The Soup: SIAC Orders To Put The Deal On Hold

When Reliance agreed to acquire Future Group for $3.4 billion, recently, the share of Reliance Industries Limited...

Flipkart, Amazon Hurtle To Secure Their Slice in Aditya Birla Fashion

The battle conch for the festive season has already been blown. Now in a bid to take...

Apart from BP. the Oil giant facing flack for it’s role in the Gulf of Mexico Oil Spill Disaster, another company remains the target of ire of the american public. That company is Goldman Sachs, a 140 year old investment banking and securities firm, which has recently been the target of a civil lawsuit by the SEC.

Goldman was not the only company responsible for the catastrophic financial crisis that has and continue to plague America since 2008, why is it the prime target for the public’s anger?

The reasons are not difficult to figure out. Inspite of a bleeding economy, they have continued to thrive and changed the laws with the help of their close connections with the Government (Then Treasury Secretary, Hank Paulson who gave away 700 Billion dollars of taxpayer money to bail out wall street for their gambling mistakes, is an ex-ceo of Goldman, and so was Robert Rubin, who was treasure sec. during Clinton’s regime and the guy who deregulated the financial markets so that banks could take those risks in the first place).

Advertisements

While the economy crumbled down like a house of cards, and ordinary americans were losing their homes, Goldman announced record profits and paid themselves Billions of dollars in bonuses. They have been described as Ivy League Crooks, and probably are the best example of an oft-referenced quote “The best way to rob a bank is to own one”

So just who is Goldman Sachs.  Given below is an interesting graphic to show (click image for full size) how far the tentacles of the vampire squid extends *

Note * : If you are unaware of the term, I recommend you read this first

So if this isn’t enough to get the American Public and any hardworking person with any semblance of conscience to get mad, I don’t know what does.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Advertisements

Latest News

Happy Birthday Ma Huateng: The Man Who Owns Facebook, WhatsApp Of China

The winning horse of the Chinese internet market and one among the Chinese billionaires, though not started...

Reliance Jio And Airtel Both Grab Top Spot In Customer Experience [Study]

What do winning brands have in common that the less successful ones don’t? It’s merely the fact that they adhere to the...

Huawei All Set To Bid Adieu To Smartphone Market?

The effects of the US ban on Huawei, along with a few other Chinese companies, have started appearing. Last week we reported...

Tata Group To Acquire 50% Stake In BigBasket: A Winning Edge Against JioMart?

The Tata Group has apparently found its winning edge against Ambani's JioMart and might add this newfound opportunity to their shopping list...

Amazon Locks Head With The Music Industry: Twitch Letting Streamers Use Unlicensed Music!

The global e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN) has upset the biggies of the music industry as one of its acquisitions have been...

Mobile Internet Speed In India: From Bad To Worse [REPORT]

Languishing. And la…g…g…i…n…g. The sorry state of the desi internet in India. In a rather sad turn of events,...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This