Adrian Reynolds sent me this, a definitive account of how the big banks are screwing us and risk destroying our economies and our entire way of life They are acting like Mafia gangsters – and even sober conservative columnists pretty much admit that fact. But Matt Taibi shows is, in detail, how we and our children are being robbed blind by bastards in pin-stripe suits.
Whew. Serious stuff. If you need to lighten up – go down an item and check out Stuart’s song choice.
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Even the relatively mild BBC business correspondent, Robert ‘Pesto’ Peston, says the same thing, in a post about Goldman’s defence of the transactions they carried out to help the Greek government conceal the full extent of its debt. Money quote: “Goldman’s Greek defence carries the following momentous implication (albeit one that many will say is blindingly obvious): Goldman is in effect saying that banks will always go for the seemingly profitable deal, unless they are formally prohibited from doing so; and that it’s naive to expect them to do the “right thing”, in a nebulous ethical sense, unless they are obliged to do that right thing.”
http://www.bbc.co.uk/blogs/the.....ek_de.html