Sieze and Liquidate Goldman Sachs

Goldman Sachs executives are babbling cretins

by Webster G. Tarpley at www.tarpley.net
The mystique of Goldman Sachs is based in large part on their reputation as the smartest financiers on Wall Street. After today’s hearings, this mystique has permanently dissipated. The Goldman executives babbled. They sounded dumb. They stalled and stammered and went into contortions to avoid giving straight answers to simple questions. They were mendacious and evasive when they did speak.

Financial powers around the world will note carefully the refusal of three out of four Goldman executives on one panel to state that they had a duty to defend the interests of their clients. Who will want to do business with such a gang?

Goldman Sachs got $10 billion of taxpayer money in low-interest loans under the

Bush-Paulson TARP

. Part of that money went to pay for obscene bonuses for Goldman executives like the ones on display today.

The argument for bonuses is that they must be paid to retain the highly talented personnel, virtual geniuses, who are indispensable for Wall Street speculative success. But these are no geniuses, they are imbeciles. No more bonuses should be paid by banks saved through public money.

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