Matt Taibbi lays out for you the tale fairy tale of Goldman/Sachs profit fiction.   If you are turned off by Matt you might want to try a government report from the OCC on Bank trading and derivative activities( table 4 )shows you a table of the top 25 bank derivative positions.  Their is a list in this article that goes quarter by quarter and if you compare 1st quarter 09 with the last of 08 you’ll see dear ole Goldman/Sachs who wasn’t in the top 25 holding derivatives now is number 2.  Check out their total assets and compare that to the value of derivatives they hold.  If that looks like solvency to you, then I have a bridge I’d like to sell you.  These guys are crooks plain and simple.  Do I have company of you bet , check out this EU TV economic show “GOLDMAN/SACHS ARE SCUM”

Explore posts in the same categories: FAIRY TALES, MAGIC, PIRATES, RUNNING ON EMPTY, stiffed again

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