"Home Cara's Commentary & Community Chat, Saturday, Oct. 31, 2009 October 31, 2009 by Bill Cara [9:01am ET] Graduating from business school in Canada in the 1960’s, not in my wildest dreams did I consider the possibility of the events that have taken place since the summer of 2006 when Goldman Sachs Chairman and CEO Henry Paulson was appointed Secretary of the Treasury of the United States. To even think that the most credible financial news would be forthcoming from Jon Stewart, a comedian on television, or Matt Taibbi, a political reporter for Rolling Stone magazine and sports columnist for Men's Journal, would have been blasphemy. Yet, it’s true.
Taken down by conflict of interest based organizational structures, and selfish and purposefully ambiguous dealings by the people elected by the People or appointed to serve and protect their interest, the entire financial system has been allowed to fall under the control of an organization by the name of Goldman Sachs, which 15 years ago – until vice-chairman at the time Robert Rubin was appointed Treasury Secretary by President Clinton -- was just a second-tier, albeit professionally competent, Wall Street broker-dealer.
Today, through the facilities of the human web, we can unite to defend ourselves and our country against the likes of Goldman Sachs. We can start by emailing blogs and utubes carrying messages from the Stewart’s and Taibbi’s among us to every person on our contact list and asking them to do the same and on and on. Eventually, perhaps weeks, everybody will get it, will come to understand that there is a source of America’s problems that must be addressed and managed.
Today, we can send out Matt Taibbi’s latest article and his growing body of work as we did earlier this month with Dylan Ratigan’s YouTube on Goldman Sachs magic trick.
Rather than saying ‘Too Big To Fail’ we should be asking ‘Too Crooked to Exist?’ and we should be demanding investigation and prosecution – at least for the top 100 or more executives and managing directors of this 31,700 person strong company.
Given that the SEC Division of Enforcement, which is a securities law enforcement agency mandated to act for the People’s interest, has now been corrupted by Goldman Sachs (see Andrew Storch hiring), Americans must now look to the FBI to seek "Fidelity, Bravery, and Integrity" in their protection from major securities fraud.
GS is corrupt, but so aren't much of Wall Street, big banks, and unfortunately many, in government as well. We have grown accustomed to hearing about the abuses of derivatives, sub prime mortgage bundling, toxic waste, bailouts, illegal naked shorting, bonuses for banking executives who have been rewarded for massive bank losses, rip off credit card interest rate increases, etc. It's no surprize that we are now a debtor nation and that our currency will soon become worthless paper. Once inflation takes hold, interest rates will move higher, and a much larger segment of our national budget will be needed to finance our ever growing indebtedness. Soon other nations will be unwilling to loan us additional money, and the American dollar will come tumbling down. We cannot stop this, but we can protect ourselves by buying gold and silver. I now hold stock in six silver mining stocks in anticipation of the collapse of the dollar in world markets. Most Americans do not understand what is happening and therefore are not taking any steps to protect their future net worth and purchasing power. We can successfully trade FAZ & FAS, but if we fail to protect our profits by investing in gold & silver, the future errosion of the dollar will wipe that profit out. Wake up and act before it's too late. SS