The vampires of capitalism!
Posted by Fredsvenn den januar 15, 2013
Goldman Sachs staff will receive the biggest bonuses in the firm’s 140-year history this year. In Matt Taibbi’s epic Rolling Stone piece this month, he describes the financial firm as «a great vampire squid wrapped around the face of humanity»; and «the planet-eating Death Star of political influence». Sounds about right.
Goldman Sachs is the vampire of finance capital. Never one to waste a crisis – whether a subprime mortgage bubble, a bank collapse or a Euro-failure – Goldman Sachs makes good money from most of them. And the company does not shy away from deals that might ruin entire countries. Between 1998 and 2009 Goldman Sachs pocketed horrendous fees to hide half of Greece’s public debt by means of accounting tricks. These financial constructions eventually ruined Greece and plunged the EU into a financial crisis with no end in sight even now — another crisis from which Goldman Sachs has already profited handsomely and will continue to do so: so far Goldman’s profit is at least 600 million dollars and Greece owes the bank 400 million per year until 2037, for a total of more than 10 billion dollars at the expense of European taxpayers. Goldman Sachs is the epitome of a money machine with an opaque and matchless network of allies in top positions such as ECB-chief Mario Draghi. Governments come and go. Goldman Sachs stays.