Friday, April 16, 2010
Obama Will Destroy Goldman Sachs
Today’s shocking news of fraud charges being dropped on Goldman Sachs should be no surprise to anyone who’s spent just 10 minutes on Wall Street. Without getting into the nuances of the charges let’s look at the timing and politics involved. This past week Chris Dodd introduced a new finance regulator bill in congress that would literally give the President power to destroy any financial bank or corporation that he or she feels is harmful to the economy. Today’s charges are civil, but will most likely lead to criminal, which means that everything GS has is now an open book to investigators, anything. This is the beginning of the end of Goldman Sachs and the American capitalist system as we know it. Goldman Sachs was the last man standing that went unscathed during the crashes of '08 and '09. Even though Goldman has been a large contributor to the Obama campaign it just may have been not enough, or should we say more is coming, cha-ching.
President Obama’s march to destroy our capitalist system will leave no survivors. Chris Dodd will use this Goldman Sachs case as a whipping boy to say to the American public “see this is what they did, this is what happened and they did it and we need this NEW POWER.”
Obama’s attacks on big corporations will not end until he lowers the wealth of all Americans and businesses to that of the rest of the world. This should scare the hell out of every American.