Most Popular Choices
Share on Facebook 23 Printer Friendly Page More Sharing
OpEdNews Op Eds    H2'ed 10/28/13

Wolf in Sheeps Clothing, Goldman Sachs as the Corporate Good Samaritan

By       (Page 1 of 2 pages)   2 comments
Message Dave Lefcourt
Become a Fan
  (21 fans)




Lloyd C. Blankfein
Lloyd C. Blankfein
(Image by (From Wikimedia) Financial Times photos, Author: Financial Times photos)
  Details   Source   DMCA

Lloyd C. Blankfein by Wikipedia

Goldman Sachs CEO Lloyd Blankfein




In case you missed it over the weekend, The New York Times published an article in its Sunday Business section entitled, "Goldman Buying Redemption" [i] , as in their giving away more than $1.6 billion in philanthropy since 2008 presumably hoping to be seen as the corporate Good Samaritan.

Yes Lloyd Blankfein's mob better known as Goldman Sachs is one of the leading corporate philanthropists in the country.

But lets not be deceived by this charitable giving; it's nothing more than a con game committed by corporate thieves, a smokescreen and a fig leaf of seeming civic goodness as a means to deflect attention away from its primary enterprise which is to make billions any which way it can.

If that means knowingly committing fraud by packaging and selling worthless securities backed by sub prime mortgages gone bad to unsuspecting buyers who unwittingly trusted them, so be it. And in Goldman's case buying credit default swaps worth billions from insurance giant AIG to insure themselves in the likely event the securities they sold came out to be worthless; well again so be it.

In less polite company that's called, "covering your ass". And Goldman was at the top of the heap in the category of financial swindling that perpetrated the financial meltdown in 2008.

So isn't it noteworthy that at the very time of the financial crisis and onset of the great recession there's Goldman at the forefront of corporate philanthropy.

Now Goldman didn't invent the smokescreen of using philanthropy to mask their sins. Hell, even the mafia does that.

But the financial "masters of the universe" are supposed to be legitimate enterprises whose former executives become treasury secretaries, chief economic advisors to the president, head up the Federal Reserve, serve on the ratings agencies overseeing the financial institutions such as Moody's, the S and P and SEC which by the way are all underwritten by the very financial institutions they are supposed to regulate (ah, please no guffaws and snickering in the aisles).

Next Page  1  |  2

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Rate It | View Ratings

Dave Lefcourt Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

An Ominous Foreboding, Israel vs Iran

The Evolving Populist Political Rebellion in the Arab World

A Nuclear War Would Be Insane

The Rich Get Richer, the Poor Get Poorer, While the Middle Class Gets Decimated

CIA in the Crosshairs

Iran Offers 9 Point Plan to end Nuclear Crisis, U.S. "No thanks".

To View Comments or Join the Conversation:

Tell A Friend