Today's Elites

Sunday, February 07, 2010

More Goldman Sachs Bedtime Stories

Today's NY Times reports that Goldman did everything in its power to bring down the mortgage backed derivative securities market to put the squeeze on AIG to pay off its gamble that the mortgage valuations would collapse. Of course, anyone not drunk on the hype that mortgage values never collapse, foresaw that exactly what Goldman bet on was in fact inevitable.

Therefore the contents of this article completely gives the lie to the oft repeated line by a supine media "that no one could have known that the markets would crash." In actual fact, Goldman not only knew but did everything to make that happen, including inducing its partner in crime Paulson to grovel for more loot, on bended knee, crocodile tears and all, before a scarified congress. What a sordid, shameful con game these "honorable men" have foisted upon us rubes.

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