Tuesday, September 19, 2017

Gary Cohn and Goldman Sachs' America

For all Trump's campaign blasting of Hillary Clinton for being a Goldman Sachs puppet, and Goldman's near single-handed destruction of the world's economy in 2008, he has now essentially turned over the US economy to their number one crook. The Intercept has the outrageous story, including a synopsis of "the big short" and Cohn's participation in it.

With Blankfein and Cohn at the top, the transformation of Goldman Sachs was complete. By 2009, investment banking had shrunk to barely 10 percent of the firm’s revenues. Richard Marin, a former executive at Bear Stearns, a Goldman competitor that wouldn’t survive the mortgage meltdown, saw Cohn as “the root of the problem.” Explained Marin, “When you become arrogant in a trading sense, you begin to think that everybody’s a counterparty, not a customer, not a client. And as a counterparty, you’re allowed to rip their face off.”

  The Intercept
...but hey, do what you want...you will anyway.

UPDATE:

If you prefer to hear this information than read it, Jeremy Scahill interviews the author on Intercepted.

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