« | Home | »

‘Essentially a Criminal Enterprise’

Tags:

I was talking last night to a financially literate man who was complaining about the level of knowledge the Senate was showing in its grilling of Goldman Sachs executives. ‘This stuff about making a market, they just don’t know what they’re talking about,’ he said. (Market-making is a standard financial-industry arrangement in which an entity keeps a market in business by acting on both sides of transactions, so that the commodities in question can always be both bought and sold.) ‘It just isn’t that big a deal.’ Then he took a sip of his wine and, quietly and thoughtfully and as if to himself, said: ‘Mind you, in my judgment Goldman is essentially a criminal enterprise.’

Comments on “‘Essentially a Criminal Enterprise’”

  1. marshmallow says:

    Another example of how the poor blokes in the financial services industry have come loose from their moorings.

    I was talking to my friend who works at Citigroup who said that the sense of entitlement (to bonueses etc) among his colleagues was stronger than ever and that could not work out what the fuss was all about.

    Is there a good novel that deals with this material? Please don’t say Tom Wolfe. Joe O’Neill’s Neverland was disappointing…

Comment on this post

Log in or register to post a comment.


  • Recent Posts

    RSS – posts

  • Contributors

  • Recent Comments

    • Mickstick on Yes, it was Blair’s fault: I attended a dinner at the National Gallery, Washington DC in February 2003. I was placed next to Tony Brenton, at that point the acting British Amba...
    • murack@wanadoo.fr on Keep Corbyn!: I am fully in agreement with many of the policies proposed by Corbyn, but over the referendum and more generally in his dealings with the PLP he has s...
    • tony_gee on Keep Corbyn!: It wasn't a party under Blairites that managed to finish third behind the Tories in the last Scottish election though. Corbyn may be a nice guy (al...
    • Senexparvus on Keep Corbyn!: I joined the party because of Corbyn and his being, against all odds still its leader, is the reason why I am still a member. It is perfectly true tha...
    • David Alderson on Keep Corbyn!: I think many of the people contributing to this thread have missed the point. Support for Corbyn is about support for a different direction for the La...

    RSS – comments

  • Contact

  • Blog Archive

Advertisement Advertisement