ISN'T IT TIME FOR GOLDMAN SACHS TO BE LESS POWERFUL WITH ITS SINS?

Blogs are informative when written by people who have truly researched their subjects, especially when they are trained journalists.  William D. Cohan has written an article:  How Goldman Killed A.I.G.  (The article is long and the comments after it, most relevant.  If the subject interests you, spend a bit of time to enlighten yourself.  Our society has long jumped at the opportunity to demonize targets that are written about as having done wrong or being greedy. unless they are well protected as Goldman Sachs has been to date.

So many of our economic advisers have cut the professional teeth at Goldman Sachs.   That has always seemed to me that Obama let the fox into the hen house by believing he had the best economic team possible.  It is easy to second guess people's motives and think we know what we really know little about, from lack of exposure, lack of facts, or just plain assumptions and ignorance.

FOLLOWING THE MONEY

At last, a few people are following the money.  Republicans are investigating whether the decision to look into Goldman Sachs is a political ploy to bolster Obama at this point.  It seems the Republicans are full of projections.  I've learned to see their accusations as a reflection of all the dirty tricks they have been pulling for the past 10 or more years.  They suspect of the Democrats all the rotten things they do themselves, wouldn't you?  For a little more on the above, click here.

A blurb to strengthen faith in our financial institutions is that 5 Goldman Sachs top executives sold stock for more than 65.5 million dollars as soon as the SEC started to investigate.  Certainly nothing devious or self protective in that move that anyone could suspect, right? No doubt their grandchildren needed tuition bills paid and their sugar bowl was empty of cash.  Almost $13,000,000 each dropped into trusts, perchance?  But that is not nice of me.  I'm sure they will be forthcoming with the altruistic reasons for ALL their activities.

"Five Goldman Sachs Group Inc. executives sold stock worth $65.4 million after the company received notice of possible fraud charges from the government, the Wall Street Journal reported.

Goldman received a notice from the Securities & Exchange Commission in July and disclosed it only later, saying it didn’t consider such a notice as material information for investors, the Journal said. The stock fell 13 percent on April 16 after the U.S. Securities and Exchange Commission filed civil fraud charges against Goldman in a case involving the sale of collateralized debt obligations."  Read the full article here. "Board member John Bryan, Co-General Counsel Esta Stecher, Principal Accounting Officer Sarah Smith, and Vice Chairmen Michael Evans and Michael Sherwood sold stock between October 2009 and February 2010, the newspaper said. That was the most active period of insider selling in three years at Goldman, the Journal said, citing InsiderScore.com."  That is a touching reflection of the loving bond of connectedness to which the term 'insider' refers to about stockholders and top executives deciding to sell so much stock from the company they have done so much for....or should that have been 'to'?  No, I guess the 'to' should refer to what they have done to the middle class citizens, the tax payers, whom they figuratively fornicated.