The Architecture Of The Scam (Goldman .et.al.)
December 15th, 2009
The Wall Street Journal has put forward an article that adds color to the general view I have always held about securitization, risk-shedding, and what I allege amounts to organized, systemic fraud by our “big banks.”
While they focused on Goldman Sachs, it is a serious error to maintain focus there as a “universal” or “sole” villain. Quite to the contrary – the entire financial system became one gigantic fraud machine during the last 20 and especially the last 10 years.
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