Skip to Navigation
Home ›

taibbi

GRITtv: Goldman's Coup

in
See video

"They frankly own the place," Dick Durbin said back in April, referring to the power that banks hold over policy decisions in Washington. If they own the place, presumably they can make the rules. But as Goldman Sachs brings in record profits and prepares to dole out handsome bonuses to employees and executives, many are lauding the company's willingness to take risks. So is Goldman Sachs, dubbed by many 'Government Sachs,' a risk taker or a coup maker? And what will it take to confront what may be the most powerful lobby in American history?

GRITtv: The F Word: Strangling the Vampire Squid

in
See video

It is all going according to plan. Goldman Sachs is the first to achieve solid profits. On its heels, JP Morgan/Chase. And if the Summers/Geithner plan continues apace other banks will return to profitability as will other sectors of American business. We're told virtually every day that we Americans believe in Free Markets and we need, first and foremost, strong financial institutions. So bravo. We are on our way. The problem, as we have learned through Republican and Democratic administrations alike, is that in the new America one person's profit is another's demise.

GRITtv: The F Word: Of Breadlines and Banks

in
See video

President Obama was elected with a large enough mandate for fundamental change that he could forge a fresh social compact, lock in place a new set of mutual obligations and rewrite the relationship between the state and the populace. Sasha Abramsky's comments in his book Breadline USA (which I'm paraphrasing there) would be striking enough on any day. The need for change is obvious. In 2008 the official poverty line stood at a shameful $10,590 for a single person and $21,203 for a family of four. And according to the Census 37 million Americans were living at or below those numbers.

Syndicate content