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Indybay FeatureRelated Categories: California | Central Valley | East Bay | U.S. | Government & Elections
Goldman Sachs Screws Stockton, San Bernardino and Oakland After Screwing 3 EU Countries
Goldman Sachs founded in 1869 was a factor in the Great Depression begun in 1929, has
destabilized governments for many decades.
Goldman Sachs screws Stockton, San Bernardino and Oakland
from DemocracyNow.org "The Oakland City Council has voted unanimously to end a contract with Goldman Sachs that locked it into a financial deal called an high interest rate swap. The city signed on with the bank in 1998 on the premise it would reduce costs of its bonds amid rising interest rates. But after the 2008 financial meltdown, the Federal Reserve cut interest rates to near zero. As a result, Goldman’s rate dropped to 0.15 percent — even as it continued to require Oakland to pay a rate of almost 6 percent. The city council is calling on the city to refuse to do business with Goldman Sachs unless it ends the deal without requiring a $15 million payout. The vote comes after a long campaign by city workers, unions, the Occupy movement and local clergy members. "It’s really been through direct action and public pressure that we’ve been able to build for this," says Alysabeth Alexander, political action chair for SEIU Local 1021, who helped organize the Oakland community and present testimony to the council members. "This is actually the second swap that SEIU 1021 has taken on and we’re going to continue to do this with our community partners and take on Wall Street. It’s not right that, in this fiscal crisis, that they’re profiting off of our local governments."
Is it time to sack Goldman Sachs?
Goldman Sachs has been harming people since 1869. It was a major player in causing the Great Depression, through insider trading, bribery, other types of fraud. Now after having destabilized the economies of Greece, Spain and Italy while continuing to work to destroy the Euro, Goldman Sachs has been a factor in the bankruptcies of Stockton and San Bernardino California. GS works both sides of trades through 'independent' bond analysts.
Wall Street's Goldman Sachs conspired to hide Greece's mounting debt, a debt made greater but illegally usurious rates from one of the world's biggest corporate megathieves. Petros Christodoulou, head of Greece's debt management agency, was originally employed by Goldman Sachs.
Stephen Foley wrote in The Independent: " Mario Monti, Italy's new prime minister and finance minister, who heads the new government that took over after Berlusconi's resignation, is an international adviser to Goldman Sachs. So is Otmar Issing,, former board member of the Bundesbank and the Executive Board of the European Bank. Mario Draghi, the new head of the European Central Bank, is the former managing director of Goldman Sachs International. Antonio Borges, formerly head of the IMF’s European Department is a former vice chairman of Goldman Sachs International., Peter Sutherland, former Attorney General of Ireland is a non-executive director of Goldman Sachs International. Karel van Miert, former EU Competition Commissioner is an ex-international adviser to Goldman Sachs.These ties between Goldman Sachs and European leaders are an ongoing source of controversy."
In the Ponzi scheme of the US Government, Goldman Sachs has long felt it had a special lock on the US Treasury Dept. which supervises the FBI.
Henry Paulson was Secretary of the Treasury under George W Bush. Before that he was borth Chairman of the Board and CEO of Goldman Sachs. He has quietly diverted capital from the US to China for years, an act of treason. In addition as Chairman of the Board of Nature Conservancy he turned the wilderness shrrines of that group into cattle ranches. Paulson was the boss of Robert Mueller of the FBI. It is interesting that Goldman Sachs' investment in mammal slaughter preceded Robert Mueller's criminalizing of animal protection through the AETA legislation.
Robert Rubin was Secretary of the Treasury under Clinton. Before that he was cochair of Goldman Sachs.
Larry Summers, another Secretary of the Treasury under Clinton, was a consultant to Goldman Sachs
One of 6 factors in JFK's murder was his intention announced to his staff that he would abolish the banker dominated Federal Reserve when he was re-elected.
"Just call off the election and let Goldman Sachs take over. After all, it seems to run just about everything already." quoted The Goldy Standard in Barron’s
Amazingly the Federal Reserve is exempt from The Freedom Of Information Act. It can sell US Government gold, for instance, without answering to anyone.
The head shark Goldman has gone after other sharks as well. Recently Lehman Brothers issued 24 subpoenas to Goldman on its role in driving Lehman into bankruptcy.
William D Cohan wrote "For years, comedian Eddie Cantor, who had lost $100,000 and sued Goldman for $100 million, made Goldman Sachs a running joke in his stand-up routines. In one of his bits, Cantor would appear onstage with a stooge who tried to squeeze juice from a dry lemon. “Who are you?” Cantor would ask. Without missing a beat, the stooge would say, “The margin clerk for Goldman Sachs.”
In 2010 Goldman paid the largest ever fine to the Securities And Exchange Commission for having created the housing bubble through fraud. Goldman was a factor in the frame of Eliot Spitzer, who aggressively investigated GS.
Romney is Goldman Sachs' guy.. a record of some of his investments in Goldman Sachs
http://video.msnbc.msn.com/martin-bashir/46750624 Romney and Goldman Sachs
4 ways Goldman destabilized the US
http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html?pagewanted=all by Greg Smith, an op ed piece on why he left Goldman Sachs
Senate targets Goldman Sachs as cause of 2008 depression
Goldman Sachs screws Scranton, San Bernardino and Oakland
On July 13, 2012 Zoe Chase of Planet Money on NPR promoted Mario Monti, the European Central Bank operative formerly employed by Goldman Sachs. She praised his destruction of Spanish, Italian and Greek individual laws, avoided mentioning Goldman Sachs' role in destabilizing those countries and American cities.