The Geithner-Goldman Connection

Editor's Note: The first line says it all- "We are so inured to tales of business corruption that even a devastating expos in The Wall Street Journal no longer shocks us." Wall Street has become so corrupt that it's like living in Mexico, where you expect that the "leaders" we elect to be on the take. Can you say baaaahhhh?

The Geithner-Goldman connection
by Robert Scheer

We are so inured to tales of business corruption that even a devastating expos in The Wall Street Journal no longer shocks us. The fact that the chairman of the New York Federal Reserve Bank made millions off his secret purchase of Goldman Sachs stock, "in violation of Federal Reserve policy," as the WSJ put it, at a time when the N.Y. Fed was ostensibly overseeing the antics of the Wall Street firm, has barely registered a blip of outrage.

...

In addition to that capital injection, which at least carries some expectation of being repaid, Goldman received an additional $8.1 billion that will not have to be returned to taxpayers. This is a result of the bailout engineered by then-N.Y. Fed president Geithner of AIG, which listed Goldman as its top insured credit-swap customer.

Read the full story- Click here

Goldman's tangled web of greed

Editors note: Just another disgusting example of greed run amok. Nothing to see here. Move along. These are not the droids you are looking for.

Meg Whitman Week - Wednesday: A Tawdry Episode
by Chris Kelly, HuffPost

.....

Meg Whitman isn't the richest woman in California. She's only the fourth richest. In fact, she's barely the 897th richest person in the universe. And voters get that. That's what gives her that common touch you just wouldn't get from Queen Beatrix of the Netherlands.

And Meg Whitman earned her money herself. All $1.4 billion of it. It came from perseverance, patience and long hard honest work. Except for the $1.78 million from Goldman Sachs. Which she stole.

...

Meg Whitman was the CEO of EBay. EBay's investment bankers were Goldman Sachs. EBay didn't have to hire Goldman Sachs to be their investment bankers, because this was a few years ago, when there were lots of banks, and not just the three we keep bailing out. Goldman Sachs was very grateful for EBay's business and they had a special way of showing their gratitude to EBay's executives. Goldman Sachs would let them buy shares in other companies whose initial public offerings they were underwriting.

Read the full story- Click here

Editors note: This is the mindset of Wall Street. They don't see anything wrong with what they're doing! It's a place filled with exceptionalism. This is why I laugh when I hear some bobblehead on the teevee talking about justice or that we're a "nation of laws". As Spitzer said on Rachel Maddow's show last night, we have plenty of laws already....it's just that nobody is enforcing them.

Visit msnbc.com for Breaking News, World News, and News about the Economy

Goldman in talks with Goldman about Goldman

Editor's note: It had to happen sooner or later. Goldman's incestuous relationships end in one giant circle-jerk.

Goldman Takes Heat for Conflicts at Whitehall
By ANTON TROIANOVSKI and LINGLING WEI

One of Goldman Sachs Group Inc.'s premier real-estate funds is in discussions with its lenders to restructure debt on some of its biggest investments: Nevada casinos, German office buildings and a U.S. hotel chain.

The wrinkle: One of the main lenders on those deals is Goldman Sachs.
...

With commercial real-estate values plunging, investors and their advisers have begun focusing on the conflicts. They say that Goldman is able to use its position as investor, lender and fee-collector to benefit itself at the expense of outsiders.

Read the full story- Click here