« | 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

    • deano on Stoke and Copeland: Neoliberal economic policies were designed to benefit the very richest alone, at the expense of everybody else. This latest justification being put ar...
    • Rikkeh on Stoke and Copeland: Exactly. The elephant curve shows us that neoliberalism has, in economic terms, been fairly benign for the world's poorest 10%, been hugely benefi...
    • suetonius on Stoke and Copeland: A few thoughts. One, the left needs to go back to it's roots. "One Big Union." No more defense of Western privilege. We're all in this together. ...
    • wearytruth on Stoke and Copeland: "Corbyn’s stated mission in leading Labour is to offer a break with the past and create an economy for the many, not the few." That was MY stated...
    • Ouessante on Stoke and Copeland: Stoke: Cons+UKIP 49.1%, Lab 37.1%. Saved only by a split vote. Hardly cause for Lab rejoicing I think. They should be very worried.

    RSS – comments

  • Contact

  • Blog Archive

Advertisement Advertisement