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The Great American Bubble Machine how Goldman Sachs has engineered every major market manipulation
Rolling Stone Magazine ^ | Jul 02, 2009 8:38 AM | MATT TAIBBI

Posted on 02/14/2010 10:33:01 AM PST by gibtx2

'The formula is relatively simple: Goldman positions itself in the middle of a speculative bubble, selling investments they know are crap. Then they hoover up vast sums from the middle and lower floors of society with the aid of a crippled and corrupt state that allows it to rewrite the rules in exchange for the relative pennies the bank throws at political patronage. Finally, when it all goes bust, leaving millions of ordinary citizens broke and starving, they begin the entire process over again, riding in to rescue us all by lending us back our own money at interest, selling themselves as men above greed, just a bunch of really smart guys keeping the wheels greased. They've been pulling this same stunt over and over since the 1920s — and now they're preparing to do it again, creating what may be the biggest and most audacious bubble yet." read more .. Global Warming anyone..

(Excerpt) Read more at rollingstone.com ...


TOPICS: Business/Economy; Crime/Corruption; Government
KEYWORDS: bailouts; bubblemachine; bubblemafia; goldmansachs; greece; matttaibbi; taibbi; wallstreet; wallstreetcrooks

1 posted on 02/14/2010 10:33:01 AM PST by gibtx2
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To: gibtx2

Well, since FDR, anyway. That was part of the New Deal, switching from favoritism for JPM to Goldman Sachs, Lehman Brothers, etc.

Central banking is the root problem.


2 posted on 02/14/2010 10:35:01 AM PST by Ghost of Philip Marlowe (Prepare for survival.)
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To: Ghost of Philip Marlowe

actualy the before the great depression..


3 posted on 02/14/2010 10:36:47 AM PST by gibtx2 (keep up the good work volunteer and replace a dem)
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To: gibtx2

Mostly crap, as you’d expect from Rolling Stone, but he does have the coming cap and trade scam dead on....


4 posted on 02/14/2010 10:38:11 AM PST by freebilly (No wonder the left has a boner for Obama. There's CIALIS in soCIALISt....)
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To: gibtx2

Hmmm....this small group of people controls all the money, eh? They’re very secretive, yes, I have heard that.

What do they look like? Do they have long noses, beards? Do they wear long coats with sacks of gold hidden underneath? I see.

Somehow, I think we have heard this story before....


5 posted on 02/14/2010 10:43:44 AM PST by proxy_user
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To: gibtx2

“...leaving millions of ordinary citizens broke and starving.”
Nothing like a little hysteria.


6 posted on 02/14/2010 10:47:24 AM PST by Scotsman will be Free (11C - Indirect fire, infantry - High angle hell - We will bring you, FIRE)
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To: proxy_user
Seeing the pictures I don't see their noses are particulary long.

By the way, does it matter?
7 posted on 02/14/2010 10:50:30 AM PST by J Aguilar (Fiat Justitia et ruat coelum)
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To: gibtx2; Southack; adm5

Ping! for an opinion.


8 posted on 02/14/2010 11:00:52 AM PST by TruthFactor (The Death of Nations: Pornography, Homosexuality, Abortion)
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To: gibtx2

I know many top-level bankers.

They quietly think this is a great, and accurate, article.

It certainly explains a lot most people don’t understand about the last 30 years and what is happening to America.

If you have time, everyone should read it.

And don’t forget that Rolling Stone magazine is the home of P. J. O’Rourke, the greatest libertarian humorist of all time........


9 posted on 02/14/2010 11:17:05 AM PST by DontTreadOnMe2009 (So stop treading on me already!)
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To: DontTreadOnMe2009

Thanks for the input.


10 posted on 02/14/2010 11:19:37 AM PST by gibtx2 (keep up the good work volunteer and replace a dem)
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To: freebilly
Mostly crap, ...

Would you care to provide some specifics? You may be right, but I'm not seeing much to refute their article in simply saying "BS!".

11 posted on 02/14/2010 11:23:48 AM PST by Wissa ("So this is how liberty dies... with thunderous applause."-Padme Amidala)
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To: gibtx2

read


12 posted on 02/14/2010 11:28:39 AM PST by sauropod (People who do things are people that get things done.)
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To: gibtx2

Very interesting article.


13 posted on 02/14/2010 11:55:46 AM PST by Girlene (HAPPY VALENTINES DAY)
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To: Wissa
Market bubbles have been around for 100's of years. The reason for them has less to do with Goldman Sach's manipulation of markets than it does with the fundamentals of human nature. Why look for conspiracies when the real culprit is in our DNA. All of us want something for nothing.

That said, over the past few years there has definitely been an unholy alliance between Goldman Sachs and the Bush/Obama administrations. Anyone can see that. But the writer of the RS piece claims that GS has been behind every market bubble since the Great Depression but offers nothing to back up that assertion....

14 posted on 02/14/2010 12:18:36 PM PST by freebilly (No wonder the left has a boner for Obama. There's CIALIS in soCIALISt....)
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To: freebilly
But the writer of the RS piece claims that GS has been behind every market bubble since the Great Depression but offers nothing to back up that assertion....

I see what you mean. Looks like the original complete article was more specific. I'm not seeing the explanation of the Blue Ridge/Shenandoah scheme in the article posted to start this thread.

This is where I read the full article originally last summer: http://www.scribd.com/doc/16885819/16750444352

15 posted on 02/14/2010 12:56:40 PM PST by Wissa ("So this is how liberty dies... with thunderous applause."-Padme Amidala)
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To: Wissa

Thanks. I’ll check it out.


16 posted on 02/14/2010 1:23:50 PM PST by freebilly (No wonder the left has a boner for Obama. There's CIALIS in soCIALISt....)
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To: freebilly
"That said, over the past few years there has definitely been an unholy alliance between Goldman Sachs and the Bush/Obama administrations. Anyone can see that. But the writer of the RS piece claims that GS has been behind every market bubble since the Great Depression but offers nothing to back up that assertion...."

As Mr. Taibbi points out in the article, GS has been virtually on the inside of WH admins, in the modern era, since the Clintoons, when GS alums Rubin and Summers ran the Treasury dept. and everyone in and out of the WH sold the Hi-tec and Internet bubbles as a "new economy".

While it likely is a stretch to say GS ALONE was "behind" every bubble, one can at least see they "took advantage" of every bubble, AND likely were not ethical in exactly how they took advantage, AND had a lot of OFFICIAL support helping to deny the bubbles were bubbles, for as long as possible.

It's still amazing to me how so many liberals I know tout the "great economy" during Clintoon's term (when GS alum Rubin was letting GS go unregulated), while denying the Hi-Tech and Internet busts were obvious refutation of that phony bubble "great economy".

17 posted on 02/14/2010 3:43:01 PM PST by Wuli
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To: gibtx2

WHen you have insider trading with the Central Bank it is a little tainted wouldn’t you say? The profits of the JP Morgan and Goldman Genies are proof (because everyone else took a bath) that they cheated with the “Powers that Be”

Arrest and convict them all, and give the money BACK to the rightful owners, the US Taxpayers.


18 posted on 02/14/2010 5:47:18 PM PST by Shady (The Fairness Doctrine is ANYTHING but fair!!!!)
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To: gibtx2

Bubble perforator, 1 each.

19 posted on 02/14/2010 6:37:41 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: FromLori
Hello, Lori - wanted to alert that this article has been posted again, just in case you have any links you want to post to this current thread. I found it when I was searching for the old messagethreads with Matt Taibbi's articles, but wasn't able to retrieve them via Keyword or Simple Title search.

However, at google.com, I think that I located all the earlier ones. I'm posting links to all of them here, in case anyone is interested in researching GS further. They are in the news today, they might get blacklisted and banned in Europe.

LOLOLOLOLOL

The Great American Bubble Machine (cap and trade and Goldman Sachs)
23 posts - 16 authors - Last post: Dec 17, 2009
In Rolling Stone Issue 1082-83, Matt Taibbi takes on "the Wall Street Bubble Mafia" --investment bank Goldman Sachs. ...

http://www.freerepublic.com/focus/news/2289094/posts

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The Great American Bubble Machine (Goldman Sachs runs everything ...
41 posts - 18 authors - Last post: Sep 26, 2009
Skip to comments. The Great American Bubble Machine
(Goldman Sachs runs everything, it seems) · Rolling Stone ^ | 7-13-09 | Matt Taibbi ...

http://www.freerepublic.com/focus/news/2348634/posts

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The Great American Bubble Machine how Goldman Sachs has engineered ...
12 posts - 9 authors - Last post: yesterday
The Great American Bubble Machine how Goldman Sachs has engineered every ... Rolling Stone Magazine ^ | Jul 02, 2009 8:38 AM | MATT TAIBBI ...

http://www.freerepublic.com/focus/f-news/2451220/posts

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The Great American Financial Bubble Machine (Goldman Sach stealing ...
If you haven't read Matt Taibbi's recent Rolling Stone piece on Goldman Sachs, make sure to get your hands on it ASAP. It's a must read on how Goldman Sachs ...

http://www.freerepublic.com/focus/f-chat/2286227/posts

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The Great American Bubble Machine (Goldman Sachs)
Skip to comments. The Great American Bubble Machine (Goldman Sachs) ·
Rolling Stone ^ | July 13, 2009 | MATT TAIBBI.
Posted on 07/18/2009 2:03:02 AM PDT by...

http://www.freerepublic.com/focus/f-news/2295392/posts

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The Great American Bubble Machine
51 posts - 24 authors - Last post: Dec 18, 2009
Rolling Stone Magazine ^ | June 9th, 2009 | Matt Taibbi
... From tech stocks to high gas prices, Goldman Sachs has engineered every major ...

http://www.freerepublic.com/focus/news/2280025/posts

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20 posted on 02/15/2010 4:37:01 PM PST by hennie pennie
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To: hennie pennie

Thanks for the ping hennie pennie I think people should read these...

http://www.zerohedge.com/article/titlos-llc-special-purpose-vehicle-downgrade-catalyst-trigger-which-will-destroy-greece

http://www.bloomberg.com/apps/news?pid=20601087&sid=a5MJFT2dMyIU&pos=3


21 posted on 02/15/2010 5:23:05 PM PST by FromLori (FromLori)
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To: FromLori
Do you believe that GS will get black listed and banned in Europe????

LOLOLOLOLOLOL

22 posted on 02/15/2010 5:25:55 PM PST by hennie pennie
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To: hennie pennie

No but I thought it was good for a laugh :)


23 posted on 02/15/2010 5:29:42 PM PST by FromLori (FromLori)
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To: All; FromLori
hrumpF!!!

Lori is laughing at my most very favorite article of this year to date:

Simon Johnson: Goldman Is About To Be Blacklisted And Possibly Banned

http://www.freerepublic.com/focus/f-news/2452042/posts

What a sublime read it was!!!!

rofl

24 posted on 02/15/2010 5:37:51 PM PST by hennie pennie
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To: hennie pennie

I’m still laughing remember the one is keeping them from citizens with pitch forks only his base didn’t understand why they thought he was scolding them ...


25 posted on 02/15/2010 5:58:04 PM PST by FromLori (FromLori)
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