The stories about Goldman Sachs seem to be arousing outrage, as deeper but more abstract analysis has not. As the saying goes, “It’s Goldman’s world; we just live in it”.
While Goldman is just one firm, it is first among equals in the financial sector and among the most successful of exploiting the current US political regime. Hence the focus on it is well-deserved and illustrative of broader truths. These two articles are both important and IMO should be read in full. These are sparks from the firestorm Taibbi ignited with “The Great American Bubble Machine“, Matt Taibbi, Rolling Stone, 9-23 July 2009.
- “The Joy of Sachs“, Paul Krugman, op-ed in the New York Times, 16 July 2009
- “The real price of Goldman’s giganto-profits“, Matt Taibbi, 16 July 2009, True/Slant, 16 July 2009
At the end of this post are links to other valuable articles on this theme. The following is not yet news, but probably coming soon (no excerpt):
- “Goldman Sachs in Talks to Acquire Treasury Department“, The Borowitz Report, 16 July 2009
(1) “The Joy of Sachs“, Paul Krugman, op-ed in the New York Times, 16 July 2009 — Excerpt:
Originally published at Fabius Maximus and reproduced here with the author’s permission.