Monday, September 29, 2014

The Goldman Sachs Finger - In Your Face!

The latest revelation of just how corrupt the investment banking sector has become comes from another another Angel named Carmen Sagarra, one Federal Reserve Bank regulator embedded at Goldman Sachs who has revealed how Fed regulators look the other way when it comes to Wall Street corruption.  Like Sibel Edmonds, she's smart, sexy, honest, and being crucified for doing the right thing.  I wish I had a swimsuit calendar full of girls like this.

As Bloomberg and other financial news outlets report, Sagarra was alarmed at the level of collusion and lax regulation that Fed employees were giving Goldman Sachs.  So she went all Bond Girl on them and started recording the meetings, uncovering Enron-like soundbites such as, "Once clients are wealthy enough, certain consumer laws don't apply to them."  Instead of saying something like, Wait just a fucking minute, you hedge fund cunt, slime bag piece of shit, her fellow regulators would say to Carmen, "You didn't hear that."  Pulling a gig where acting like a regulatory whore meant one day swallowing some of the Goldman lucre, honesty only led to Carmen's termination and another nail in the coffin of market efficiency theory.

What do people expect with a Federal Reserve Bank that is really a private corporation given a monopoly on the world's reserve currency, the U.S. dollar?  The main shareholders are the biggest banks themselves (though they refuse to be audited and former Fed Chairman Paul Volker tried to save its external auditor, Arthur Anderson, from dissolution after the Enron scandal).  The ostensible justification for an "independent" Fed has proven to be a lie and many times since the U.S. Great Depression, the Fed has pumped up the money supply to benefit its own interests.  Thus the management of Goldman and the Federal Reserve all work for the same principals who maintain a monopoly on monetary policy.  It reminds me of Ohio Senator, Frederick Howe's book, Confessions of a Monopolist, where he states the two rules of being a monopolist:  (1)  make society work for you, and (2) make a business of politics.  The apex predators of Wall Street, like Goldman Sachs, and the Federal Reserve's fox-in-the-hen-house regulations are a totally ugly insider's game.

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