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Posts Tagged ‘The Great Enabler’

Goldman Sachs: ‘The Great Enabler’

Posted by Larry Doyle on February 17th, 2010 2:28 PM |

As more details are released about Goldman Sachs’ derivative transactions that allowed Greece to disguise its overall financial health, the question begs as to the integrity of this very storied Wall Street franchise. In short, I would define Goldman Sachs as ‘The Great Enabler.”

How did ‘The Great Enabler’ operate? Recall that Goldman CEO Lloyd Blankfein indicated a few months back that Goldman Sachs was doing “God’s work.” He failed to mention that the deity to which Goldman prayed bleeds green. Additionally, the prayer which Goldman offered was nothing more than ‘maximize revenues now, worry about problems later, and keep your mouth shut.’

For a peek inside Goldman’s prayer book, let’s review a recently released report from Bloomberg, ¬†Goldman Sachs, Greece Didn’t Disclose Swap Contract:>>>> (more…)

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