E-mails released Saturday morning show top executives at Goldman Sachs Group Inc. boasting about the money the firm was making as the national housing market collapsed in 2007.
The e-mails suggest Goldman benefited from its bets that securities backed by subprime mortgages would lose value.
Gee, imagine that. They placed a bet - a bet they could LOSE - and which would kill them if it went against them, and now the have-nots are angry that it went the other way and that they made money. Good thing nobody knows that I bought that land out int he desert and then sold it at a profit.
Profit Jealousy is the root of all Evil - not Profits. That this is true, then what does that say about those that harbor Profit Jealousy and THEIR contribution to evil.
2 comments:
Those jerks should have crashed and burned instead of being bailed out. They only lesson they learned is that the government will take care of them.
I can agree that they should not have access to any bail-out money or policy preference.
And, I think that while they learned a lesson, it is not from themselves that they learned it, but friom these elected officials (Repbulicans and Democrats) that are in on the take too.
That however (that they got graft from the government) should not detract, I ask, from my main thesis that the reason people are "upset" is because it is somebody else making the money rather than themselves.
These folks would not have stood around feeling sorry if the tide had turned against the bettor (Goldman), so they should not stand around wanting to lynch them because they instead made a killing betting on how the market would turn.
More from the story ....
The internal e-mails among Goldman executives were released by subcommittee chair Sen. Carl Levin, D-Mich. In a statement, Levin called banks like Goldman "self-interested promoters of risky and complicated financial schemes that helped trigger the crisis."
Like these things were not purchased by ...
"self-interested promoters of risky and complicated financial schemes that helped trigger the crisis."
and made possible by
"self-interested promoters of risky and complicated financial schemes that helped trigger the crisis." i.e more than just a few in the US Congress.
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