Monday, November 19, 2007

Goldman Sachs - Sacking* from Both Sides?

* from the Latin “saccus” (look it up)

The New York Times released a story today about how “Goldman Sachs Rakes in Profit in Credit Crisis.” But did it come from just good decisions? Could at least some of it have come from what Daniel Schulman and James Ridgeway say was “playing both sides of the fence”? “Goldman Sachs simultaneously urges governments to privatize highways, advises them as they structure the deals, and buys a piece of the action.”

Could some of it also have come (as this article says) from receiving “approximately $1.6 billion in taxpayer subsidies (mostly through Liberty Bonds) from New York City and state taxpayers to finance the Firm's new headquarters near the World Financial Center in Lower Manhattan in return for a commitment to keep at least 9000 employees and a major trading operation in Manhattan”?

Once again, let’s have ALL of the story, not just a part of it.

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