Posted by: sheika1 | April 20, 2010

Goldman Sachs maintains innocence in mortgage investment debacle

Poor Goldman Sachs executives. Investments went sour and now they have to profess their innocence to the public at large. The Securities and Exchange Commission is [finally] investigating the Wall Street giant amidst allegations that investors were misled during the height of the mortgage crisis.

Does the term “too little, too late” mean anything to anyone?  Let’s face it: big banks that were “too big to fail” actually failed. When they imploded with brute force, the U.S. Government was right there to bail them out instead of allowing them to wallow in the pitiful sewer they created.

Now that the public outcry has become louder and the natives are restless, the SEC steps in and says, “Dangit, I guess we have to do something…”  Make no mistake, they were there the whole time. Obvious warning signs loomed, but were ignored. Executives of  big banks such as Goldman Sachs were allowed to nod their heads to corruption and claim ignorance. The big, black flashlight is being shined in the faces of this week’s scapegoat [Goldman Sachs] and they have to say something in their own defense. Executives claim they “never intentionally misled anyone.” Add “but we did take your money to get even richer” to that statement and you’ve got a true statement, for a change. Oh, did I mention that GS profits have surged over the last month? Wow, capitalism works!

These people have walked away with billions of taxpayer dollars in exorbitant salaries and ridiculous bonuses; believe it, they are not sorry for a damn thing. The word “thug” now has a name synonymous with a group other than rappers. Have you kissed your investment advisor today?

Sources:

MSN.com: “Goldman: Bank wouldn’t intentionally mislead

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  1. […] This post was mentioned on Twitter by Karen Kennedy. Karen Kennedy said: Goldman Sachs maintains innocence in mortgage investment debacle: http://wp.me/pNHS2-g […]

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