Thursday, May 12, 2011

Must read: The People v. Goldman Sachs

Matt Taibbi is the peerless Rolling Stone reporter who famously described Goldman Sachs as a
...great vampire squid wrapped around the face of humanity relentlessly jamming its blood funnel into anything that smells like money...
Today he has another installment in his series of indictments against the company, and you've got to read it. Here's his lead paragraph:
They weren't murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about it.
Fans of baseball great Roger Clemens are aware that lying before Congress can get you into serious trouble. Read Taibbi's whole account of exactly what Goldman Sachs did here.