Where the Looting of
Main Street Met the "Baddest' Banks who Should Fail or be Taken-Over as Eminent Domain, like any Rock in the Way to Progress and better Development
By Kevin Stoda, View from Europe
In recent weeks, I have been covering and discussing with my students the methodologies used by US banks and financial institutions over the past decade, like those outlined by Matt Taibbi.
Taibbi has simplified and published the techniques in his last month's ROLLING STONE article, "
Looting Main Street".Finally, one U.S. congressmen took on some of these bankers and financiers. The congressman was Senator Carl Levin yesterday in his grilling and crime narrative of Goldman Sachs. Levin noted, "Goldman Sachs proclaims "a responsibility to our clients, our shareholders and employees and our communities to support and fund ideas and facilitate growth.' Yet, the evidence shows that Goldman repeatedly put its own interests and profits ahead of the interests of its clients and our communities. Its misuse of exotic and complex financial structures helps spread toxic mortgages throughout the financial system. And when the system finally collapsed under the weight of those toxic mortgages, Goldman profited from the collapse."
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
