Looks like it’s another case of who you know and not what you know. David Weidner from MarketWatch writes “Goldman, like its rivals, is on the prowl for deposits, but unlike its competitors, it will be the acquirer,” he writes, pointing out that Bear Stearns, Lehman Brothers and Merrill Lynch are no longer around to offer competition. “Goldman emerges from this mess essentially the same institution. It has the same lack of transparency. It still manages hedge funds and private-equity businesses. It still has a thriving prime brokerage business.”
Now, for all of you having any type of long term memory loss, your current Secretary of the Treasury is Henry Paulson, who happens to be the former CEO of Goldman Sachs. So when David says “Goldman Sachs is set to emerge essentially the same institution,” “stronger than it was before and with the same powerful array of friends in high places who, intentionally or otherwise, have helped it navigate the credit crisis.”
So I ask, do you think Goldman got favorable treatment? Do you think Paulson helped Goldman navigate the financial battlefield to come out the other side a stronger and more powerful? After spending $850 billion of your hard earned money, do you think anyone should have gotten favorable treatment?
Similar Posts:
- From Wall Street to Easy Street
- Bailout Bill Redux?
- Morgan Stanley & Goldman Sachs Now Retail Banks..Look Out!
- Barack to Paulson: WTF Are You Thinking?
- Paulson Changes Tax Code, Allows Banks to Rob Each Other, You!
- Bank of America Passes 60 Minutes Test…For Now!
- Real Reason Citi and Wells Fargo Sniffing Around Wachovia
- UAW’s Gettelfinger Working Better Deal With Treasury?
- To John Murtha: What Good is a Bonus if You Are Dead?
- Banking Meltdown Goes on World Tour
{ 1 comment… read it below or add one }
Yes the American people