Goldman Sachs: Corrupters and Looters of Mexico and
the World
“They make the criminals who ran the Banking Fund for
the Protection of Savings or the disastrous operators of Mexicana Airlines look
like clever chicken thieves … They offer to take possession of the nation’s
wealth now that, thanks to the Commodity Futures Modernization Act - a law
signed by Bill Clinton in 2000 -‘clients’ and entire nations can be fleeced.”
Greg Smith: the former head of Goldman Sachs' U.S. equity derivatives business in Europe, the Middle East and Africa, wrote a bombshell of a resignation letter published in The New York Times last week. His resignation serves as perhaps the greatest indictment yet of one of the world's leading financial institutions.
“Today is my last day at Goldman Sachs. After almost twelve
years at the firm … I can honestly say that the environment now is as toxic and
destructive as I have ever seen it. … To put the problem in the simplest terms,
the interests of the client continue to be sidelined … I can no longer in good
conscience say that I identify with what it stands for.”
The
resignation of Greg Smith, former head of Goldman Sachs' U.S. equity derivatives business and the
person most responsible for the largest and most important portfolio of
derivatives in Europe, the Middle East, Africa and Asia, was published by The New York Times on March 14. Here we
have the naked truth, the debauched usury, the deceit and the impunity that
given the magnitude of the investment firm's affairs, affect the future,
employment and lives of millions of people in and out of the United States.
This is easily demonstrated by the symbiosis and complicity of the imperial
presidencies of Bush and Obama, the Congress and the courts with this modus operandi.
The prevailing context of corrosive greed and usury at
institutional icons of high finance, banks and investment firms like CitiGroup,
Wells Fargo, Bank of America, Morgan Stanley, Goldman Sachs, etc., was only
encouraged by the provision of between $13 and $14 trillion in unconscionable
“bailouts” and subsidies in 2008.
These are corrupt business enterprises that
include money-laundering operations that make the criminals who ran the Banking Fund for the Protection of Savings or the
disastrous operators of Mexicana Airlines look like clever chicken thieves,
with the Business Coordinating Councilthe big winner: launching trading of state-owned Pemex and CFE [Mexican Petroleum and the Federal Electricity Commission] stock on
the floor of the Mexico Stock Exchange, where the sharks at Goldman Sachs gamble
and operate, was part of an electoral payoff to backers of [presidential candidates]
Peña Nieto of the PRI and Vázquez Mota of the
ruling PAN. They have called for a vote on stripping the
people of their patrimony - increasingly valuable with the onset of “peak oil,” which makes
the global energy equation favorable to public control of vital resources. They
offer to take possession of the nation’s wealth, now that, thanks to the Commodity
Futures Modernization Act - a law signed by Bill Clinton
in 2000 - “clients” and entire nations can be fleeced. According to economist
Chris Hedges, the Goldman Sachs Commodity Index is the most heavily traded in
the world [see video
below]. Thanks to Clinton, the company speculates
with hungry populations, “hoarding rice, wheat, corn, sugar, and livestock, jacking
up commodity prices around the world, so that poor families can no longer
afford basic staples – and many literally starve.” That is to say nothing of minerals, metals and fossil fuels.
Smith’s resignation is revealing: “Over the course of my
career I have had the privilege of advising two of the largest hedge funds on
the planet, five of the largest asset managers in the United States, and three
of the most prominent sovereign wealth funds in the Middle East and Asia. My
clients have a total asset base of more than a trillion dollars. I have always
taken a lot of pride in advising my clients to do what I believe is right for
them, even if it means less money for the firm. This view is becoming
increasingly unpopular at Goldman Sachs. Another sign that it
was time to leave.”
Although managers like [former CitiGroup CEO] Robert Rubin
and our nearly unmentionable presidents left an indelible mark on the crisis
and subsequent looting of Mexico’s national treasury (and oil) during the great
speculative ransom scheme that brought the country to its knees after the
debacle of December 1994, for Smith, the performance of Goldman
Sachs CEO Lloyd C. Blankfein and President Gary D.Cohn represent “the single most serious threat” to the
firm’s long-run survival - even if Blankfeinproclaimed to The Times of London
that Goldman was “doing God’s work.” Perhaps this is what prompted him to promote the idea
of “securitizing” hundreds of thousands of toxic mortgages that Goldman, along
with other banks and firms, sold to customers while betting against them.
Posted by Worldmeets.US
The Goldman Sachs bonanza had nothing to do with the grace
of God, but the money received in subsidies and bailouts from the Treasury
Department and the FED, which proceeded to print money in a way rarely seen
since the times of Tiberius
in the year 33, when he decided to rescue the finances of the Roman Empire. The
FED serves as the “central bank” so has a monopoly on issuing currency, thus
regulating the price of credit, interest rates, and determining the amount of
money flowing into the economy.
Who in Mexico’s Congress approved, without penalty or
responsibility, an unusual augmentation of the IMF quota? And remember where
the money went: to Lloyd Blankfein just a few months before
a collapse that left millions on the street. The senior Goldman
Sachs executive received the largest compensation package recorded in its 143-year-history:
$18 billion in 2009, $16 billion in 2010 and $10 billion in 2011, according to
official figures Hedges released at Zuccotti Park in front
of hundreds of “squatters” [watch video above]. He was then arrested by the
NYPD in front of Goldman Sachs headquarters.
