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Tuesday, July 19, 2011

The U.S. Dept of Goldman er Treasury

NYT piece (7/9/11) on Shelia Baird re. U.S.financial regulation policy was excellent. Had FDIC been in charge, Wall Street bonuses contracts would be void (under the statutes, although could have been regardless, but Administration coped out) as just one of many unnecessary benefits bestowed on Wall Street, but the Goldman mafia inside the Administration (Paulson, Geithner, Friedman) and the external collaborators/facilitators of Goldman lineage (Rubin) made sure that did not happen because it would have stopped Wall Street piracy. U.S. needed to help banking, but using taxpayer dollars to fund speculation is reprehensible.


Of course, none of this would have been necessary but for the repeal of Glass-Steagell by the Rethuglicans in 1998.

2 Comments:

Blogger KISSWeb said...

The Republicans had willing Democratic collaborators for repealing Glass-Steagall in 1998, including in particular the Clinton team.

7:24 PM  
Blogger marketingace said...

And Goldman execs (e.g. Rubin) were replete in the ranks of the Clinton Treasury Dept.

12:41 AM  

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