How Goldman Sachs schemed your money out of... Everything?

[Frolk]

There is a special spot in hell for people like Goldman Sachs
They DESERVE to die, slowly for destroying our society only for their own greed

[Cthulhu 2020]

This is entirely legal business practice.

I like the part where the law, meant to prevent them from bottle necking aluminum supplies, that says they "must move 3,000 tons of aluminum out of the warehouse" has a giant loophole where they can move it between warehouses and it's technically legal.

Yay for it being "legal"?

[Klingers]

Goldman Sachs is, at its core, a highly specialised parasite attached to the anus of humanity. They're everything that's wrong with this world.

It goes far deeper than aluminium price fixing. They've had a hand engineering virtually every bubble and crash since the great depression. This is one really good article from 2009 that compiled alot of the stuff I'd already read in disparate places into one really, really good source: http://www.rollingstone.com/politics...chine-20100405

[Cthulhu 2020]

I swear people have forgotten why bush was so awful or something.

It's like that party is a boy's club. Bush could have committed genocide and they'd still have backed him.

Meanwhile, Obama is quickly being disenfranchised by many Democratic voters. And laughably enough, not for any of the fake "too liberal" reasons Republicans try to pin on him, but because he's too conservative.

[Adam Jensen]

The democracy in America involves legal bribery, so unless you can make the rich poor or somehow replace everyone who can be swayed by a very large monetary incentive to side with your megacorps, nothing is going to change. Your government is broken as the democratic process has very little to do with how your country is governed.

This is how your laws work.

Here's a solution:



Dinner time.

[Durandro]

Goldman Sachs is, at its core, a highly specialised parasite attached to the anus of humanity. They're everything that's wrong with this world.

It goes far deeper than aluminium price fixing. They've had a hand engineering virtually every bubble and crash since the great depression. This is one really good article from 2009 that compiled alot of the stuff I'd already read in disparate places into one really, really good source: http://www.rollingstone.com/politics...chine-20100405

Yep. Its pretty much why I consider the Stock Market to be the greatest con ever pulled in the history of civilisation. Some people managed to convince other people to make a system where 'confidence' could effect the worth of an item - completely ignoring actual supply and demand.

I'd be perfectly okay with the Stock Market being demolished completely and rebuilt from scratch to be a way for people to privately invest in companies without the entire world economy being tethered to a small group of men able to scam us out of trillions via rumour and manipulation.

[Deleted]

Yep. Its pretty much why I consider the Stock Market to be the greatest con ever pulled in the history of civilisation. Some people managed to convince other people to make a system where 'confidence' could effect the worth of an item - completely ignoring actual supply and demand.

I'd be perfectly okay with the Stock Market being demolished completely and rebuilt from scratch to be a way for people to privately invest in companies without the entire world economy being tethered to a small group of men able to scam us out of trillions via rumour and manipulation.

I would like to agree but there is another institution with a lot of support that is in my oppinion more harmful.

[Adam Jensen]

Thing is, Sarah Palin is such an idiot, I wouldn't put it past her to call for the invasion of the Czech Republic.

[Deleted]

Thing is, Sarah Palin is such an idiot, I wouldn't put it past her to call for the invasion of the Czech Republic.

Sounds not too farfetched.

I hope the US stays democratic for another 2 Terms. I cant even imagine what an invasion of the Iran would costs at this point its the only Pillar of stability in the middle East now.

Israel would be too but isnt for obvious reasons even Turkey is going more and more fundamentalistic. Its easier to negoiate with Hardliners than with weak Puppets. Putin for example helps too keep russian nuclear material/technology at bay and counteracts the chinese influence in Asia a little.

[Laize]

So I pointed out that the OP was flat wrong and that Goldman wasn't hoarding aluminum, but storing it for clients. The price increases seem to be a result of the fact that Goldman sucks at managing warehouses.

Are we just gonna ignore that fact? Alrighty.

- - - Updated - - -

I swear people have forgotten why bush was so awful or something.

No, I remember exactly why Bush was so awful.

I don't think Obama is quite that bad yet but hey, he's got another 3 years to go. Anything can happen. Maybe he'll continue throwing his weight around to prevent any sort of restrictions on the NSA. That'd be a gem.

[This name sucks]

Tell me the Czech invasion thing was faked or exaggerated or something.

Please.

[Felya]

So I pointed out that the OP was flat wrong and that Goldman wasn't hoarding aluminum, but storing it for clients. The price increases seem to be a result of the fact that Goldman sucks at managing warehouses.

Are we just gonna ignore that fact? Alrighty.

They are getting around a law that tries to prevent this by having a quota for metal leave the plant. They do this by hiring truck drivers to move metals from one plant to another and then back. If you think this is a result of mismanagement, I got an aluminum bridge to sell you.

What they are doing is called insider trading on the stock market.

It's pretty funny, they have an 8 year old explain it:
http://www.theatlanticwire.com/enter...n-sachs/67635/

[Bigbamboozal]

Yes, legal, but is it ethical? Is it moral?

I'm not saying if it is or is not; I am only stating that this thread is not an argument about this practice's current legal status. The question is should it be made illegal? I can see strong arguments for both sides.

However, in this case, it is blatantly about organized market manipulation, creating an artificial cost to society in the form of wasted energy and time.

Wait, did I just see someone who's leaders invaded another country over ficticious wmd's complain about morals and ethics?
Now I've heard it all....

[Grummgug]

http://my.firedoglake.com/fflambeau/...ids-tentacles/

What funny is Goldman Sachs STRONGLY favors the democratic party. They were HUGE campaign donors to the Obama campaigns in 2008 and 2012, much more so than the GOP opponents. Obama's administration is FILLED with Goldman Sachs people.

But, for some strange reason, people thought Obama would work AGAINST the banks, and people seem to think the banks are in the republican corner. The banks are in the DEMOCRAT corner, and always have been.

Hell, it was democrats that established the IMF and world bank. Democrats run those organizations, not republicans. I hear so many democrat rank and file voters that complain about the banks, yet they don't seem to notice the banks are in the democrat's corner....

Look at Joe Biden. He is the ex-senator from Delaware. You know what Delaware is famous for, right? They are the home of a lot of credit card companies, because that state gives special tax breaks to credit card companies. Biden has been squarely in the back pocket of big banks, helping drown the poor people in credit card debt. And his reward is to get the veep nomination and the poor people RUSH to vote for this guy....

It would be hilarious if it wasn't so sad....

[Kraenen]

Wait, did I just see someone who's leaders invaded another country over ficticious wmd's complain about morals and ethics?
Now I've heard it all....

rofl. such a laughably weak attempt at ad hominem.

[Deleted]

No as linked Grummgug the Banks are everywhere they support both partys but give the probable winners more.

Wait, did I just see someone who's leaders invaded another country over ficticious wmd's complain about morals and ethics?
Now I've heard it all....

Whose government marched with them? Sorry to accuse you iam basically Hitler hence i have no right to call you out for your generalistic ad hominim construct of moral superiority.

[Ihnasir]

Are we supposed to be surprised? The elite corporate monopolies run the US anyway.

[Bondey]

Goldman getting everything is a Pareto Efficient point on the world's contract curve, what's to worry about?

[Felya]

If nothing else folks, take this as another reason to watch Trading Places.

[WarpKnight]

Neoliberal economics at its finest