Goldman Sachs Should Not Have Been Pampered, Protected

Rolling Stone had every right to write a story about a complex financial issue that was so baffling the experts who got defrauded didn't understand it and thus it required a popular niche market entertainment publication to explain to them what happened.

If the Goldman Sachs moles and public agents in the government had not put a gun to the head of Congress to bail out the privately owned Federal Reserve Bank and Warren Buffett and Goldman Sachs and all the other sophisticated experts we would not have read your essay this morning You would have been writing about how much you miss the rugged individualistic Goldman Sachs that was put out of business by Neanderthal free market capitalism.

Which is what should have happened. Unemployment is now realistically 20 percent; there are millions of empty homes; federal income tax receipts are down 29 percent, the U. S. is being laughed at by totalitarian Russia and China and snickered at by Venezuela.

How did Saving GS save the nation from its present situation?
The entire banking system needed to start from scratch with a fresh balance sheet. The folk wisdom of the Old Testament demands a year of jubilee to wipe out unsustainable usury.

The people on the street will have to toughen up to survive - and if they turn to guns Goldman Sachs will lobby the White House to call in foreign troops. Instead, the unemployed should lobby the White House to disarm Goldman Sachs.
Instead, while the street people learn jungle survival skills and become lean and mean GS fat cats turn to guns because their brains and morals failed them - but all that government cream they get and the street people don't tastes so good and makes them feel fat and superior.

Our economic system truly died when the government artificially propped up a failed Goldman Sachs, thus insuring that the morally and intellectually over complicated (in reality) breed on and further weaken the economic species. Goldman Sachs should have been culled from the system, not rescued.

A predatory financial enterprise that had to be rescued was no different from a General Motors. Both had become bloated and inefficient and destructive to the broader economy.

Only GM is looked down upon for being blue collar and GS is supposedly so much better because it is white collar - with a lot of sweat stains.. And the blood of a deconstructed nation on its hands.

As for the New York Times turnnig against Goldman, it is about time they woke up and realized how much of their own precarious position can be traced to bad advice from money grubbing investment bankers.