March 15, 2012

From our Goldman Sachs file... 2

Progressive Review, September 2008 - We find it interesting that the media is ignoring the fact that the Treasury Secretary controlling the bailout of the American financial interest was formerly the head of one of the major money machines: Goldman Sachs, as was his predecessor, Robert Rubin. In other contexts, this would be considered a major conflict especially since Goldman Sachs has a huge interest in the bailout of Fannie and Freddie and far less interest in the success of Lehman Brothers, which Henry Paulson let fail.

It's a little like the situation with the sainted Alan Greenspan of whom the French economist Patrick Artus said, "He created four major crises: savings and loans, [Long-Term Capital Management], new-technology shares, and subprime mortgages." He then was "congratulated for his role as fireman, but he's the one who started the fire."

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