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"How You Finance Goldman Sachs? Profits"

Are you tired of reading about Goldman Sachs?  I sure am.  Yet the most corrupt criminal organizatin in American history has created a neverending story.  In the latest Mother Jones, a former Goldman Sachs insider explains how you (yes, you) are making really rich people even richer.  Check it out:Bank holding companies (which all the biggest financial firms now are) come under the regulatory purview of the Fed, the Office of the Comptroller of the Currency, and the FDIC. The capital they keep in reserve in case of emergency (like, say, toxic assets hemorrhaging on their books, or credit derivatives trades not being paid) is supposed to be greater than investment banks'. That's the trade-off. You get access to federal assistance, you pony up more capital, and you take less risk...continue to full post

Full post as published by Crime & Federalism on July 30, 2009 (boomark / email).