General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGoldman Sachs, rotten to the core
from AlterNet:
Goldman Sachs Crowns Shady Banker Who Destroyed Bear Stearns and Scammed Investors Its Global Head of Mortgage Trading
Jeffrey Verschleiser is, in the words of Matt Taibbi, "a former Bear Stearns executive who was instrumental in helping blow up that venerable firm." He is famous for being the dude who rented out all 94 rooms of an Aspen Hotel for his daughters bat mitzvah, an anecdote that embodied the gross excess that still proliferates on Wall Street, but much grosser is that he allegedly scammed as much as $55 million in three weeks by shorting his clients, screwing over Bear Stearns' bond insurers and collapsing the company. So you'd think that after the colossal economic dump he helped usher in, Wall Street would have banned this guy from ever stepping foot in a firm again, right? Yeah, Wall Street doesn't work that way: he's now at Goldman Sachs, and was just appointed its global head of mortgage trading. Taibbi:
As if we needed more reasons to regret the bailout.
http://www.alternet.org/newsandviews/article/853024/goldman_sachs_crowns_shady_banker_who_destroyed_bear_stearns_and_scammed_investors_its_global_head_of_mortgage_trading/
sabrina 1
(62,325 posts)in a different universe to the one the average person lives in and the rules are different for them. They must laugh at us from their great heights for thinking that the rule of law applies to this rare species of human being. Especially since they were clever enough to buy Governments all over the world.
Unless the people get serious about taking the money out of politics, the special rules they live by will never change. Who is going to prosecute them when they commit crimes, as they have?
Demeter
(85,373 posts)and suddenly, there won't be any money in politics. Remember the Koch brothers are a big shadow bank.
kenny blankenship
(15,689 posts)He'll probably be Obama's next Treasury Secretary.
choie
(4,111 posts)n/t
think
(11,641 posts)rudycantfail
(300 posts)do very few of the usual Obama backers comment or rec posts about the pathetic state of the U.S. financial industry?