It’s great to know these colossal pricks are watching their bank disintegrate.
Death and Taxes readers know well the contempt in which Goldman Sachs is held by this author. No need to be equivocate: The world will be slightly better without their unchecked form of greed and desire; and their efforts to maintain an umbilical cord between their offices and the highest levels of U.S. government.
Goldman Sachs’s third quarter earnings statements are expected to be particularly punishing.
Let it be said, though, that as America suffers, so should Goldman Sachs.
Like any business, they have had every opportunity to behave in an ethical and moral manner, but their greed drives them to enrich themselves and acquire more power; and in doing so bring a world economy, interwoven to a truly terrifying degree, to its knees.
And maybe it will be argued by those who could care less for Goldman Sachs but do care about America that it is counter-intuitive to bet against the bank, to harbor this vitriol. That despite their malfeasance, and despite their greed, we as a country should hope they rise again and so bring America with it.
But we know their primary objective is self-interest—they proved that when they were doing well in the two years following their shady dealings in the sub-prime mortgage disaster. What is happening to them now is the free market at work.
Let those free market true believers shed a happy tear that for once maybe the system is working as it should.