Humint Events Online: Financial Crisis? What Financial Crisis?

Sunday, June 21, 2009

Financial Crisis? What Financial Crisis?

Clearly Goldman Sachs had friends in the right places: crony capitalism at its finest:
Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm's 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms.

A lack of competition and a surge in revenues from trading foreign currency, bonds and fixed-income products has sent profits at Goldman Sachs soaring, according to insiders at the firm. (snip)
Last week, the firm predicted that President Barack Obama's government could issue $3.25tn of debt before September, almost four times last year's sum. Goldman, a prime broker of US government bonds, is expected to make hundreds of millions of dollars in profits from selling and dealing in the bonds.
Goldman has it good in this economy-- making a killing in selling the ever increasing US debt.


Blogger nickname said...

I've believed, as have many others, almost from the
beginning, that the so-called
financial crisis was cooked-up
as an excuse for Obama to repay
his major campaign contributors.

8:57 AM  

Post a Comment

<< Home

Powered by Blogger