Goldman Sachs, the investment bank, whose alumni conceived and implemented the TARP (Troubled Assets Relief Program)-- remember Henry Paulsen, the former Secretary of the Treasury under Bush Junior--he was a former chair of Goldman Sachs. Well, Goldman is about to announce today a quarterly profit of $2.7 billion, the largest in its history. Remember it was Goldman Sachs's influence that got the Bushies to save AIG (which Goldman needed to cover its losses) and to let Goldman's rival Lehman Brothers fail.
However, before you sink your last savings into the stock market, check out Matt Taibbi's latest article in Rolling Stone. The Great American Bubble Machine points a finger at Goldman Sachs as the master manipulator of the Stock Market.
Listen to Matt's interview and more on The Takeaway on NPR.org.: Damned if You Do: Profiting in the Recession.
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