The Secret Goldman Sachs Tapes
Source: Bloomberg
That may very well change today, for today -- Friday, Sept. 26 --- the radio program "This American Life" will air a jaw-dropping story about Wall Street regulation, and the public will have no trouble at all understanding it.
The reporter, Jake Bernstein, has obtained 46 hours of tape recordings, made secretly by a Federal Reserve employee, of conversations within the Fed, and between the Fed and Goldman Sachs. The Ray Rice video for the financial sector has arrived.
.....
It's an extraordinary document. There is not space here to do it justice, but the gist is this: The Fed failed to regulate the banks because it did not encourage its employees to ask questions, to speak their minds or to point out problems.
Just the opposite: The Fed encourages its employees to keep their heads down, to obey their managers and to appease the banks. That is, bank regulators failed to do their jobs properly not because they lacked the tools but because they were discouraged from using them.
Read more: http://www.bloombergview.com/articles/2014-09-26/the-secret-goldman-sachs-tapes
No surprises here
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Orrex
(63,334 posts)It's as nauseating as it is unsurprising.
K/R
bananas
(27,509 posts)
Jackpine Radical
(45,274 posts)
Iamthetruth
(487 posts)Bad news for you, both sides are corrupt as hell, both sides.
Octafish
(55,745 posts)"The Ray Rice video for the financial sector has arrived."
Thank you for the heads-up, Paolo123!
aggiesal
(8,975 posts)but 95% of the country will care less.
Ray Rice video had to deal with a football player knocking out his then fiancee now wife,
this only deals with the banking industry.
Move along, nothing to see here.
FreakinDJ
(17,644 posts)
progressoid
(50,059 posts)
snappyturtle
(14,656 posts)snappyturtle
(14,656 posts)think many have assumed up to this point. There ought to be a Congressional hearing but....I doubt that will happen. Long live Carmen Segarra!
blkmusclmachine
(16,149 posts)1StrongBlackMan
(31,849 posts)candelista
(1,986 posts)
Orsino
(37,428 posts)Crash2Parties
(6,017 posts)a.) The Federal Reserve Bank is a privately owned central bank. One that is owned by the banks that are members of the Federal Reserve system. It essentially controls the part of our economy based on monetary policies and actions.
b.) Corporations, are legal entities owned by real people, but exist to act as a shield to the laws and liabilities the rest of us face.
c.) According to our highest court, Corporations are People, with Free Speech (expressed as political spending) and even religious beliefs.
d.) Federal regulation of just about *anything* on behalf of the non-corporate entities (ie us human people) in America has dwindled to mere lip service due to the political purchase of lawmakers.
...Did we just go through a decade+ long takeover of political power in our nation that replaced the incumbent decision makers, ie voters, with a small group of Capitalists?
...Can we still call ourselves anything like a "Democracy", "Republic", etc?
...Is it still a coup if the citizens never realize the power shift has occurred?
GliderGuider
(21,088 posts)
BobbyBoring
(1,965 posts)Thanks for the link! A real eye opener!
Crash2Parties
(6,017 posts)I notice that it's all caged in a Cold War, "Capitalism vs Communism" mentality. But there's something crucial missing from the, 'What Can Be Done About the Public' section (as the Public is merely a resource from the perspective of Capitalism).
At the time, the Cold War binary mentality included, "Godless vs Christian". Over the same time period (early/mid 70's to now) and in a roughly parallel fashion, conservative Christianity has become enmeshed with the GOP/TP *and* Capitalism.
Any resources for tracking down the nexus? Was it just a case of opportunism by both sides or was it intentional? What are now deemed the Dominionists and even The Family seem to have their origin in the same place and time as this memo...
GliderGuider
(21,088 posts)Riding on the coat-tails of some very powerful, religiously connected plutocrats - possibly members of The Family - who recognized an opportunity when they saw one.
calimary
(81,702 posts)Glad you're here! The post by GliderGuider is INCREDIBLY IMPORTANT!!! The Powell Memo is a manifesto that, frankly, we should hijack and from which WE should take EVERY page. And turn it around so it promotes the agenda of the left. His eager "students" in the GOP read it and have learned tons from it, and benefited from it almost obscenely. It's a roadmap from the latter part of the last century leading DIRECTLY to the results we now have: overwhelmed by wrong-wing "think" tanks and foundations and institutions that groom a huge bench-strength of activists and other operators who run campaigns, run for office, get all spruced up and well-rehearsed for on-camera and hate-radio advocacy, astroturfers who metastasize the poison all over the op-ed pages and blogs, "colleges" and "universities" hellbent on teaching young up 'n' comers to grow up and take over - the CON way. It was mass, concentrated, highly-focused and directed BRAIN-WASHING. Brainwashing the public. Buying up and monopolizing all possible media and cornering the market so completely that the brainwashing is easier, more thorough, and more complete.
And today, we're MIRED in it. CHOKING on it. DROWNING in it now.
These bastards have had a 40-year head start and MAN have they paid attention - while OUR SIDE slept, gullible and naive, assuming the other side couldn't possibly be this devious and this destructive. They're good loyal patriotic A-MERRRRRRRR-icans! WE have to WORK toGETHER!!! Oh good heavens! They just WOULDN'T! COULDN'T! And America itself? The people will SEE! They'll just KNOW! They'll KNOW what's "right" and they can be counted on to ... blah-blah-blah. I've heard it from wide-eyed idiot after wide-eyed idiot after wide-eyed idiot on our side - til I'm ready to throw up. And they're WRONG! America has been dumbed-down. The people will NOT see. The people will NOT "just KNOW" they're being had. People will NOT know what's "right". And they can't even be counted on to vote to keep their voices in the mix. Anybody who gives the GOP any credit for humanity, compassion, and reason is kidding themselves.
Does anyone here REALLY think the other side couldn't possibly be this devious and this destructive. That they're good loyal patriotic A-MERRRRRRRR-icans! Or that WE can WORK toGETHER (with all those hearts and flowers and other naive, gullible crap)!!! Oh good heavens! They just WOULDN'T! COULDN'T! Yeah? Just watch 'em. And our side didn't even bother to do that.
laserhaas
(7,805 posts)because they believe it isn't "directly" affecting them.
Apathy & laxity serve nefariousness - Well!
I'm just sayin.......
laserhaas
(7,805 posts)due to the necessity of the continuous struggle to handle more pains.
lovuian
(19,362 posts)its called Corruption within .......and then the American people have to bail them out
but no Social Security No Healthcare No Good paying Jobs for you little people....the laws are for you not us
The American people are pretty fed up
Not a Surprise Holder resigns when the Tape news goes public
Whose going in to clean up the Federal Reserve
laserhaas
(7,805 posts)I wonder......
Wellstone ruled
(34,661 posts)Nixon's legacy just won't go away. Remember the dumping of the Gold Standard,another wonderful Goldman and Morgan idea. Who would have thunk!! And at that juncture of our history was about the time the Media started it's decline to a Ring Wing propaganda machine.
AlbertCat
(17,505 posts)Just needed repeating.
"Nixon's legacy just won't go away."
in many many areas besides banks as well.
AlbertCat
(17,505 posts)But they lack them now!
TeamPooka
(24,355 posts)
countryjake
(8,554 posts)laserhaas
(7,805 posts)Just shows to go ya - we have protectors.
If "we" are Goldman Sachs kind!
Stuart G
(38,480 posts)Uncle Joe
(58,691 posts)Thanks for the thread, Paolo.
