Matt Taibbi Goes In on Goldman Sachs The Guys Who Wrecked the Economy

Taibbi: The Lunatics Who Made a Religion Out of Greed and Wrecked the Economy

The SEC’s lawsuit against Goldman Sachs is a chance to prevent greed without limits.

Original article: Alternet: Goldman Sachs

April 26, 2010  |  By Matt Taibbi
 
So Goldman Sachs, the world’s greatest and smuggest investment bank, has been sued for fraud by the American Securities and Exchange Commission. Legally, the case hangs on a technicality.

Morally, however, the Goldman Sachs case may turn into a final referendum on the greed-is-good ethos that conquered America sometime in the 80s – and in the years since has aped other horrifying American trends such as boybands and reality shows in spreading across the western world like a venereal disease.

When Britain and other countries were engulfed in the flood of defaults and derivative losses that emerged from the collapse of the American housing bubble two years ago, few people understood that the crash had its roots in the lunatic greed-centered objectivist religion, fostered back in the 50s and 60s by ponderous emigre novelist Ayn Rand.

While, outside of America, Russian-born Rand is probably best known for being the unfunniest person western civilisation has seen since maybe Goebbels or Jack the Ripper (63 out of 100 colobus monkeys recently forced to read Atlas Shrugged in a laboratory setting died of boredom-induced aneurysms), in America Rand is upheld as an intellectual giant of limitless wisdom. Here in the States, her ideas are roundly worshipped even by people who’ve never read her books or even heard of her. The rightwing “Tea Party” movement is just one example of an entire demographic that has been inspired to mass protest by Rand without even knowing it.

Last summer I wrote a brutally negative article about Goldman Sachs for Rolling Stone magazine (I called the bank a “great vampire squid wrapped around the face of humanity”) that unexpectedly sparked a heated national debate. On one side of the debate were people like me, who believed that Goldman is little better than a criminal enterprise that earns its billions by bilking the market, the government, and even its own clients in a bewildering variety of complex financial scams.

On the other side of the debate were the people who argued Goldman wasn’t guilty of anything except being “too smart” and really, really good at making money. This side of the argument was based almost entirely on the Randian belief system, under which the leaders of Goldman Sachs appear not as the cheap swindlers they look like to me, but idealized heroes, the saviors of society.

In the Randian ethos, called objectivism, the only real morality is self-interest, and society is divided into groups who are efficiently self-interested (ie, the rich) and the “parasites” and “moochers” who wish to take their earnings through taxes, which are an unjust use of force in Randian politics. Rand believed government had virtually no natural role in society. She conceded that police were necessary, but was such a fervent believer in laissez-faire capitalism she refused to accept any need for economic regulation – which is a fancy way of

Rand’s fingerprints are all over the recent Goldman story. The case in question involves a hedge fund financier, John Paulson, who went to Goldman with the idea of a synthetic derivative package pegged to risky American mortgages, for use in betting against the mortgage market. Paulson would short the package, called Abacus, and Goldman would then sell the deal to suckers who would be told it was a good bet for a long investment. The SEC’s contention is that Goldman committed a crime – a “failure to disclose” – when they failed to tell the suckers about the role played by the vulture betting against them on the other side of the deal.

Alan Greenspan

Now, the instruments in question in this deal – collateralized debt obligations and credit default swaps – fall into the category of derivatives, which are virtually unregulated in the US thanks in large part to the effort of gremlinish former Federal Reserve chairman Alan Greenspan, who as a young man was close to Rand and remained a staunch Randian his whole life. In the late 90s, Greenspan lobbied hard for the passage of a law that came to be called the Commodity Futures Modernisation Act of 2000, a monster of a bill that among other things deregulated the sort of interest-rate swaps Goldman used in its now-infamous dealings with Greece.

Both the Paulson deal and the Greece deal were examples of Goldman making millions by bending over their own business partners. In the Paulson deal the suckers were European banks such as ABN-Amro and IKB, which were never told that the stuff Goldman was cheerfully selling to them was, in effect, designed to implode; in the Greece deal, Goldman hilariously used exotic swaps to help the country mask its financial problems, then turned right around and bet against the country by shorting Greece’s debt.

Now here’s the really weird thing. Confronted with the evidence of public outrage over these deals, the leaders of Goldman will often appear to be genuinely confused, scratching their heads and staring quizzically into the camera like they don’t know what you’re upset about. It’s not an act. There have been a lot of greedy financiers and banks in history, but what makes Goldman stand out is its truly bizarre cultist/religious belief in the rightness of what it does.

Lloyd Blankfein Feels Rippin' Off People-oops I mean making Money is 'Doing God's Work'

The point was driven home in England last year, when Goldman’s international adviser, sounding exactly like a character in Atlas Shrugged, told an audience at St Paul’s Cathedral that “The injunction of Jesus to love others as ourselves is an endorsement of self-interest”. A few weeks later, Goldman CEO Lloyd Blankfein told the Times that he was doing “God’s work”.

Even if he stands to make a buck at it, even your average used-car salesman won’t sell some working father a car with wobbly brakes, then buy life insurance policies on that customer and his kids. But this is done almost as a matter of routine in the financial services industry, where the attitude after the inevitable pileup would be that that family was dumb for getting into the car in the first place. Caveat emptor, dude!

People have to understand this Randian mindset is now ingrained in the American character. You have to live here to see it. There’s a hatred toward “moochers” and “parasites” – the Tea Party movement, which is mainly a bunch of pissed off suburban white people whining about minorities consuming social services, describes the battle as being between “water-carriers” and “water-drinkers”. And regulation of any kind is deeply resisted, even after a disaster as sweeping as the 2008 crash.

This debate is going to be crystallised in the Goldman case. Much of America is going to reflexively insist that Goldman’s only crime was being smarter and better at making money than IKB and ABN-Amro, and that the intrusive, meddling government (in the American narrative, always the bad guy!) should get off Goldman’s Armani-clad back. Another side is going to argue that Goldman winning this case would be a rebuke to the whole idea of civilisation – which, after all, is really just a collective decision by all of us not to screw each other over even when we can. It’s an important moment in the history of modern global capitalism: whether or not to move forward into a world of greed without limits.

original article: http://www.alternet.org/story/146611/taibbi%3A_the_lunatics_who_made_a_religion_out_of_greed_and_wrecked_the_economy__?page=entire

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Breakdown FM: Wall Street Gangsters, Wu-Tang Clan-Why Cash Really Rules Everything Around You

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DaveyD-leather-225Does Cash Rule Everything Around Me?  From the looks of things yes. We sat down and spoke with former Wu-Tang Clan manager and author/entrepreneur Cedric Muhammad of Blackelectorate.com to have an indpeth discussion about today’s current economic situation and how its impacting us.

We started off talking about the recent decision by investment bank Goldman Sachs to give out more than 20 Billion dollars in bonuses, after being bailed out with tax payer money. How could such a thing happen? Where’s the public outrage?

Cedric explains that the US is no longer a democracy but a plutocracy where a wealthy few rule everything. The blatant disregard by Goldman Sachs to the American public underscores the the type of control investment bankers have over all aspects of our lives here in America.  Cedric  explains that it’s almost impossible for President Obama to do anything because his seat in the White House is strictly controlled. As was spoken about in Michael Moore‘s movie ‘Capitalism‘, a coup has taken place in this country and we are sadly seeing it play out before our eyes.

Cedric Muhammad talks about this economic coup in our interview. His analysis is compelling. We talk in great detail how and why this happened. We also talk about how it is foolish to see this as a Democrat vs Republican situation. Cedric talks about how outfits like Goldman Sachs have members of both parties on the payroll.

We talk about the significance of  Oliver Williamson of UC-Berkeley and him winning this years economic Noble Prize. We talk about the emerging economic models  that exist in various ethnic communities and how they have allowed groups of people to prosper even in rough economic times. Cedric speaks about the important model set forth by Rza and his Wu-Tang Clan and why we should pay close attention and even mimic them. We also talk about how the Hip Hop political movement has allowed itself to be severely compromised and co-opted.

breakdownFM-logo-podcast-30This is an incredible and enlightening interview. It’s probably one of the most important ones you can listen to…click the link below to hear.

http://odeo.com/episodes/25319912-Wall-Street-Gangsters-How-Cash-Really-Does-Rule-Interview-w-Cedric-Muhammad

 As you listen to the podcast peep out this insightful article that further explains the points raised by Cedric Muhammad..

 

Economic Governance: The Organization Of Cooperation: Why Wu-Tang Clan and The Honorable Elijah Muhammad Could Have Won The 2009 Nobel Prize In Economics

cedricmuhammed2(Cedricmuhammad.com) Of all of the chapters that I wrote in my new three volume book series on entrepreneurship, The Entrepreneurial Secret (http://www.theEsecret.com/) the one that gave me the most anxiety from a technical standpoint was Chapter 4 of Volume I, entitled, “The Secret of Capital And The Business Firm.” It is a chapter that makes some strong assertions, such as the economics profession does not understand what capital is; money is one of the least of all of the forms of capital; entrepreneurs should understand that a business firm is actually a society; and that 90% of Black businesses have no more than a single paid employee partly because the science of what a business firm is, and legal forms of business that encase it (i.e. sole proprietorships, partnerships, and corporations) were never taught to Black Americans, or worse, denied to them.

My anxiety stems from the fact that we the people have been made so ignorant, miseducated, and misled on economic matters that it is difficult to get into certain economic truths without being misunderstood or mislabeled. As I wrote in the Preface to The Entrepreneurial Secret this is due to the fact that the public school system does not teach economics, the news media cannot explain it properly and the book publishing industry divides and compartmentalizes knowledge in the field into too many categories. On another level, we’ve been systematically denied certain elements of business knowledge and funneled into a phony capitalism versus communism shouting match that produces more debate and distraction than development.

In my book I make the case that macroeconomic policy does matter, and that a debate over market forces and State control of an economy is important (I devote an entire chapter to this discussion). But a central theme of my book is that what leads to wealth creation, economic development and growth is self-improvement, enlightened self-interest, cultural traditions of pooling money, the proper use of the business firm, and the standardization of a business organization so that it does not depend upon a single personality. None of these five elements fits neatly into the mainstream economic profession nor does it revolve around the Free Market versus State debate that dominates the capitalism-socialism paradigm.

In The Entrepreneurial Secret I define the business firm as a form of society, a social institution, not to be defined by a ‘State’ or ‘Free Market.’ It is a vehicle where human beings unite, pool resources and capital, organize them in hierarchical structures and make decisions, even on how to resolve conflict. In that sense I see the business organization not unlike a ‘gang’, sorority, tribe, or religious order.

Oliver Williamson

Oliver Williamson

And this is why I was so impressed with the fact that Professor Oliver Williamson of California, Berkeley was a co-winner of the Nobel Prize in Economics (http://nobelprizelaureates/2009/press.html). You see Professor Williamson’s view of the firm is similar to the one I express in my book. Here is the most relevant portion of the official press release announcing his victory:

Economic transactions take place not only in markets, but also within firms, associations, households, and agencies. Whereas economic theory has comprehensively illuminated the virtues and limitations of markets, it has traditionally paid less attention to other institutional arrangements…. Oliver Williamson has argued that markets and hierarchical organizations, such as firms, represent alternative governance structures which differ in their approaches to resolving conflicts of interest. The drawback of markets is that they often entail haggling and disagreement. The drawback of firms is that authority, which mitigates contention, can be abused. Competitive markets work relatively well because buyers and sellers can turn to other trading partners in case of dissent. But when market competition is limited, firms are better suited for conflict resolution than markets. A key prediction of Williamson’s theory, which has also been supported empirically, is therefore that the propensity of economic agents to conduct their transactions inside the boundaries of a firm increases along with the relationship-specific features of their assets.

The Royal Swedish Academy of Sciences, which awards the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, uses a phrase, ‘relationship-specific.’ The untapped area in the field of economics which remains is that which revolves around ‘relationship-specific’ activity, and how such factors like love, envy, ambition and trust influence trade and commerce. Yet, the profession is only now getting around to how firms, associations, households and agencies are formed and impacted as a result of these forces. That Professor Williamson is being recognized for his work which looks at economic reality outside of central governments and markets is a positive sign.

On an empirical, conceptual, and anecdotal level my recognition of how people unite, resources are ordered, capital is arranged, and decisions are made in the firm is influenced by the teachings of the Honorable Elijah Muhammad and my experience as General Manager of Wu-Tang Management. The economic blueprint of the Honorable Elijah Muhammad, in its entrepreneurial aspect (contained in the 1965 book Message To The Black Man) encourages, “If there are six or eight Muslims with knowledge and experience of the grocery business – pool your knowledge, open a grocery store – and you work collectively and harmoniously, Allah will bless you with success. If there are those with knowledge of dressmaking, merchandising, trades, maintenance – pool such knowledge….help to make jobs for your own kind. Take a lesson from the Chinese and Japanese and go give employment and assistance to your own kind when they are in need. This is the first law of nature…”

To the Honorable Elijah Muhammad the business firm is a society within a society. The connection of his insights and reference to the ethnic communities that have been foremost in wealth creation around the world and in the United States as immigrant groups is worthy of deep study.

When I was interacting with Wu-Tang Clan (beginning in 1993 when I met them as a young concert promoter still in college) or serving as part of management for over a two-year period in the 1990s I saw these principles practiced at a high level, and was involved in helping to execute them (along with an incredible four-man combination of Mook, Divine, RZA and Power) on the group’s behalf inside of the music industry and outside of it.

I will argue the unparalleled achievements and example of Wu Tang with anyone.

There has never been a greater model for community and economic development – in a business context – provided by any single artist or group in the music business than that given by the Clan. Perhaps one day someone will make a detailed study on this subject.

One of the reasons for the group’s success was that it was never burdened by any superficial ideological debates. Everyone was clear on what the goal was and in many ways we embodied the first law of nature – self preservation – and building wealth according to the cultural kinship systems of the Chinese, Jewish, and African traditions for example, where individuals support a collective and the collective finances the individual (entrepreneur). We made mistakes and errors, and fell victim to the same vices and imperfections that we all struggle with, but at its highest level of operation, there has been nothing like the Clan, before or since.

I touch on some enlightening and hilarious anecdotes in The Entrepreneurial Secret.

In my book’s chapter on capital and the business firm I devote 12 pages to different arguments over the nature of the business firm. What I present kisses and embraces certain aspects of Nobel Economist Professor Williamson’s work which makes clear that the government and market are quite often not the place where real economic activity takes place. It is in informal institutions like associations and households where transactions take place, often without money changing hands. Just look at a family and how many ‘trades’ take place without cash being involved. Consider the New York-based Jewish diamond trade where contracts in the millions of dollars are sealed only with a handshake and a Hebrew-Yiddish greeting of ‘mazel and brucha’ (luck and blessing).

Yet, despite overwhelming evidence, the economics profession looks down upon kinship systems (families, tribes, ethnic groups, ‘gangs,’ religious groups) that often have more trust than formal systems dominated by markets and central authorities. The obvious truth that trust is a form of wealth, seems to be a fact that Western economists only seem willing to acknowledge after stock market crashes and financial panics.

What the work of Nobel Economist Oliver Williamson makes clear is that whether markets or strong governments exist or not there are always benefits and a principal role for what he terms ‘private ordering’ – the lead role of associations, households, firms and agencies in undertaking economic activity.

Every ethnic trading network and group savings association in the world already knew this.

Wu-Tang Clan; The estimated $80 million Muslim ‘economic empire’ of the Nation of Islam prior to 1975; Jamaican ‘partners;’ Ethiopian ‘ekoub;’ Jewish aktsiyes;’ and the Chinese system of doing business known as ‘guanxi’ are not created by governments or ‘markets,’ they are relationship-specific institutions that emerge culturally and defy the understanding and logic of the economics profession.

Rza

Rza

As I write in my book, Wu-Tang really was a clan and RZA was our head. We were the product of an entrepreneurial vision, voluntary association, kinship system (everyone involved was either a blood relative, childhood friend or serious student of Islam and universal principles). There were elite inner circle elements to the decision-making, and others that were more ‘democratic’ and still more that were authoritarian. Only an understanding of the nuances of the theory of the business firm (and not how markets or central governments work) and the hierarchy it creates or enables would explain how and why the Clan achieved so much.

In an interesting interview with CNN to promote his new book, The Tao Of Wu, CNN and RZA have the following exchange:

CNN: You say you ran Wu-Tang like a dictatorship in its first five years. I know you and Raekwon have had creative differences and Ghostface Killah is suing you over royalties. Ever regret the dictatorship approach?

RZA: I don’t regret it because it got us to the power we are. …To me, in the beginning, the dictatorship led us to such a strong foundation that even though Wu-Tang seemed to be crumbling, it didn’t fall because of the root foundation of one man’s idea. But now as it’s coming back together — we’re living in the twilight age of it right now — it’s still surviving because of the democracy of it.

****

RZA’s assessment of the drawbacks but undeniable progress made with a ‘dictatorship’ would enlighten those who don’t understand why certain societies and electorates turn to authoritarian rulers with egalitarian messages (Venezuela, Cuba) or dominant spiritual leaders (Iran, Vatican, Nation of Islam). Much of it has to do with the shortcomings of ‘markets’ and ‘governments,’ and the ability of special human beings to inspire the greatest forms of economic wealth – trust and love – which always decrease transaction costs and provide a foundation for development.

On another level the theory of the firm explains why the entrepreneur is often more efficient than ‘markets’ at gathering, allocating, and determining the use of resources.

For the valuable role of direction and execution of resources that they fulfill, as well as the risk-taking they assume, there is always a dispute within groups (filled with envy, ambition, and structured on hierarchy) over how much of a ‘profit,’ reward, or compensation the leader or head should enjoy as opposed to the rest of the body.

In my book I make clear why I believe the word ‘entrepreneur’ is more accurate and appropriate than ‘dictator,’ to describe the dominant leader.

Yesterday, from Memphis, Tennessee, the Honorable Minister Louis Farrakhan, in an address commemorating the 14th anniversary of the Million Man March (http://noi.org/) represented one of the deeper regions of the Teachings of Honorable Elijah Muhammad connecting the structure and function of the human body, the origin of the universe, and the next stage of community and economic development that should take place in Black America, wasted urban areas, and distressed rural areas.

That anatomy, physiology, and universal order should enter a discussion on economics may be strange to some, but the deeper economists think into reality and study societies and their basic unit, the individual human being, the more they will see the unity of that which previously seemed disconnected.

I don’t believe in revisionist history, but the deeper economists get into anthropology, theology, cosmology, astronomy, anatomy and physiology – and I can’t leave out botany and zoology – the more likely they are to broaden the pool of likely recipients for the highest prize in the profession.

The Wu-Tang Clan and the Honorable Elijah Muhammad absolutely practice what Nobel Prize Economists Elinor Ostrom and Oliver E. Williamson have studied, “Economic Governance: The Organization of Cooperation.”

One day it will be acknowledged, if I have anything to do with it.

Cedric Muhammad
http://cedricmuhammad.com/
October 19, 2009

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Goldman Sachs is Giving Away 23 Billion In Bonuses…Where’s All the Tea Party Protestors? Why are they so Silent?

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DaveyD-RaiderSo last night I’m sitting here watching the news and I hear this crazy report about how all these companies that we helped bail out, first under former President George Bush and then later under President Obama, are on pace to make huge profits and give out record bonuses to their management teams. Note I said management, not your average Joe Schmoe worker who pushes papers or pushes a mop. While most of us can barely pay car fare to go to work (tolls are rising to 5 bucks here in the Bay Area), Goldman Sach’s management will be receiving a whooping 23 BILLION dollars in bonuses. 23 Billion dollars…I want everyone to sit there and think about that for a minute.

Think about that as I did and wonder why all these people I know who never paid a bill late in their lives suddenly had their line of credit decreased. My boy’s business had to let a few people go because one of the banks we helped bail out suddenly couldn’t give him and his business credit in spite of his stellar record and A credit rating..This scenario is playing out all over the country.

Meanwhile back at the Wall Street ranch-23 billion dollars for Goldman Sachs? 23 billion for a company that was failing and needed us to come to the rescue?

I suppose I shouldn’t be surprised. The cynical folks that I tend to come across day in and day out have predicted this for months. They’ve said all along its not the President or the people who have final say so in this country, it’s the people who control the financial institutions..23 Billion dollars in bonus–keep repeating this to yourself as you find yourself putting in extra hours and avoiding taking vacations for fear of losing your own meager paying job.

23 Billion dollars-I’m sitting here listening to this crap and looking at a medical bill for 1400 bucks I have no way of paying anytime soon. I couldn’t afford it when I got severely sick a couple of months ago and had no choice but to visit an emergency room. My ‘great’ insurance-(privately owned and not government run) wouldn’t cover me for an emergency out of state. It was on me they told me. But hey thats another story. The point is I couldn’t afford to pay it in August and I can’t afford to pay it now. I needed a stimulus package and couldn’t get it. My job needed one-None was given. I needed some credit mine was cut. Thank you Wells Fargo. Meanwhile back at the Wall Street ranch- Goldman Sachs management are getting 23 Billion dollars..

Where are all the Tea Party protestors? Why aren't they in front of Goldman Sachs?

Where are all the Tea Party protestors? Why aren't they in front of Goldman Sachs?

I guess the thing that really eats at me most was hearing about Goldman Sachs and thinking about all these ‘orchestrated’ Tea Party gatherings. I say orchestrated because when you went you heard the a lot of talk about greed and corruption and tax dollars being wasted. You saw all sorts of posters with demonic pictures of President Obama denouncing him. And I’ll be honest, if Goldman Sachs are his people and he has people from that firm all up in his inner circle and administration, some hard hitting criticism is due. You’ll get no defense from me about Obama and his relationship to Goldman Sachs… With that being said, based upon the supposed outrage and call to action to get this country back on track as underlined by the Tea Party folks, my question is ‘Where art thou?’ When’s the next Tea Party?

Where’s the tea party thats gonna be kicked off in front of Goldman Sachs Headquarters on 85 Broad Street in Lower Manhattan? Since its been said that President Obama really doesn’t run the country and he’s controlled by rich, powerful wall street bankers, where are all my shotgun carrying, ultra patriotic Tea Party folks now? Where’s the September 12th Protestors? Remember them? Didn’t they show up with “millions’) in front of the white house’? (Note: It really wasn’t millions it was more like ten thousand, but we’ll say millions to make them happy…Please keep in mind it would be real expensive for those drug industry marketing firms that were organizing the September 12th Protest along with the Townhalls and Tea Party gatherings to hire millions to come out to a protest-but lets not digress). Obviously we don’t see these people confronting the ‘real beast’ and the real criminals…

Memo to Glenn Beck: Goldman Sach's CEO Lloyd Craig Blankfein has done more harm to us than Van Jones ever did or could

Memo to Glenn Beck: Goldman Sach's CEO Lloyd Craig Blankfein has done more harm to us than Van Jones ever did or could

So as I was saying where’s Sean Hannity? Lou Dobbs? Rush Limbaugh? Has anyone seen them? Are they directing their viewers and listeners to show and protest? Are they getting the tens of thousands of ‘honest, poor, hard working citizens who carried posters with Obama looking like Adolph Hitler to show up in front of Goldman Sach’s headquarters carrying Hitler-isque pictures of CEO Lloyd Craig Blankfein? Do their listeners even know who he is? Where’s the Fox News ambush team to jump in the face of a bonus receiving Goldman Sach’s manager demanding they give back tax payer money? Isn’t Goldman Sachs who we should be confronting? Where’s the outrage?

Are there any ‘Joker-like pictures of David A. Viniar the Chief Financial Officer of Goldman Sachs being posted around town? Weren’t well known conspiracy pundits like Alex Jones (The Obama Deception) just two months ago offering 50 thousand dollars to people who could post up Obama the Joker flyers? Is he offering anything similar for us to confront the ‘evil folks’ at Goldman Sachs who pull the economic purse strings not just for Obama but for many of us as well?

Where’s Glenn Beck‘s hunt for wrongdoers of this magnitude? Where’s the weeks worth of expose to take down those who are really doing ‘treasonous’ and treacherous things that harm the working class America? Does anyone think that Glenn Beck targets like; Van Jones, Mark Lloyd or Yosi Sergent are the ones disrupting American life or is it the dip shits giving out billions of dollars in bonuses to their management teams after we bailed them out? Will any of those billions be stimulating your economy anytime soon? 23 billion dollars in bonuses folks..23 Billion.

The Tea party protesters and their contradictory ways aren’t the only ones we need to take to task. Let’s talk about your everyday run in the mill hoodlum. Lets make sure he has his priorities straight.

Memo to Thugs: Stop robbing poor people in the hood-try Wall Street

Memo to Thugs: Stop robbing poor people in the hood-try Wall Street

Memo to Wannabe Gangstas & Thugs: Stop robbing people in the hood. You wanna rob somebody? Find a one of these Goldman Sachs bonus baby cats. You wanna show how gangster you are? Post up on 85 Broad street or 30 Hudson street in Jersey City . If not in New York there’s a Goldman Sachs in a city near you. Whatever you do stop robbing and terrorizing poor folks in the community who can barely afford a pot to piss in and bring the drama to the folks who have more money than our entire community combined.

When these Wall Street barons get their bonus checks tell them to ‘Ante up’. Tell them to ‘run’ their loot and don’t feel bad. After all, that’s what these bankers did to us. Late last year they strong armed tax payers and told the American people they better give them stimulus money or the economy would tank.

If folks recall, when Congress took their initial vote on giving a bailout the answer was ‘Hell Naw’. That’s when these Wall Street crooks ran around and threatened to destroy the economy. Film maker Michael Moore outlines this in his movie ‘Capitalism a Love Story’ The end result was Congress reversed its vote and we wound up giving away trillions. We gave away all that money and the economy is still tanking for far too many of us…

23 Billion.. do you know how many people can have their basic needs met with that money? It’ll be interesting to see how millionaire broadcasters in the media suddenly get quiet and won’t cajole the people into action. Expect more balloonboy coverage and beauty Queen breast plant stories. This is what they are talking about today on local TV news stations in NY home to Goldman Sachs this morning as I write this.. Expect outlandish excuses used to defend the bonuses received by these Goldman Sach numbskulls-23 Billion

Something to ponder..

-Davey D-

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