NOVANEWS
If we’d hang a few investment bankers, life would be good again.
by Mike Farrell
I’ve been feeling lousy and just now starting to feel better. However, I’m still enough out of it to not be able to really sustain a piece of writing. Fortunately, there are things that really amaze and don’t need a lot of commentary, or if they do, there’s someone who does a great job. In this case, Quadaffi and Goldman, Sachs as dissected by the inimitable Matt Taibbi and Rolling Stone.
... there was a widespread feeling of relief within the walls of the bank after news broke that Goldman a few years ago offered to sell Moammar Qaddafi a $3.7 billion equity stake in their company. The relief, it seems, stemmed from the fact that the deal was never struck – and therefore Goldman doesn’t have to answer charges now of having funded repression in the Middle East. From the Carney piece:
“The last thing we need right now would be headlines reading ‘Vampire Squid Profits Funding Libyan Dictator,’” one senior Goldman investment banker told NetNet.