In a recent Daily Beast article, Charlie Gasparino describes Goldman Sachs as “already the most hated investment bank among investment bankers.” Perhaps that’s so. Throughout its long and storied history Goldman has been the most elite and prestigious firm in a very competitive pool of investment banks. It’s not surprising that its success could have ruffled more than a few feathers.
[Read more...]Banks Gave You a Mortgage in Exchange for Your Honor
January 19, 2010 by Leave a Comment
In this thought-provoking clip, The Colbert Report’s Stephen Colbert dissects the real reason behind the mortgage meltdown. It wasn’t a matter of predatory lending, or irresponsible borrowing… it was actually a matter of honor:
“When you signed that mortgage you gave your word, and your word is who you are…
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An Amateur’s Weapon of Mass Destruction
Thankfully, plots to hurt civilians have been uncommon in the US. Unfortunately, its fear-inducing replacement isn’t much better… a warped willingness to plant “financial weapons of mass destruction,” as Warren Buffett famously described derivatives, that we’ve seen leave unprecedented economic damage in their wake.
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