Matt Taibbi Takes On Goldman Sachs in Rolling Stone Magazine

July 20, 2009

I’m not a big fan of conspiracy theories, nor do I think for one second that Goldman Sachs is the lone culprit for the numerous financial crises we have endured but I can’t for the life of me figure out why I haven’t heard more about this story in the past few weeks.

Here is a link to the orignial story,  Inside The Great American Bubble MachineMatt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression.

Matt was also this week’s guest on The Disciplined Investor Podcast where he discussed that he used Goldman as just a metaphor for the big investment banks but, at the same time, Goldman Sachs was the biggest investment bank that did profit the most…so not really a metaphor.

I just find it interesting that with Goldman Sachs in the news so much lately for their record profits, obscene bonuses and stolen codes that this story doesn’t seem to get mentioned. We are all so ready to believe whatever the mainstream media tells us about the predatory lending practices of greedy mortgage brokers or the evil Bush administration and their corporate buddies, but when an alternate news source points out that both sides of the political aisle are in bed with  a very powerful entity that has in fact been a part of, and profited tremendously, from the several economic crises that have hit the rest of us, We are so eager to wave it off as nonsense or mere conspiracy theory.

Personally, I don’t think we want to know the truth about how the system works. I think we want to believe in the good guy that we can trust. We need to believe that it’s the other guy’s fault and that the government is there to protect us. I think we just want someone to make us believe that everything is going to be OK and that very shortly we can get back to our normal lives. But what do I know, I’m just a moron.

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