Monday, August 07, 2017

Goldman Sachs in the "old" days..........

A fine of $550,000,000 is a total joke.  That is 3% of the GS bonus pool!!
How much "free" money does GS make daily by borrowing at the discount window and reinvesting in 10-year treasuries?
This is how it worked then.......... and now..........
1) GS fraudulently screws up our financial system and economy.
2) Deemed TBTF, The Fed tells GS to convert into a savings bank.
3) GS now borrows freely at the discount window and uses taxpayer $$$ to buy treasurys.
4) Obama DoJ sues GS for fraud.
5) GS settles with the government and pays the fine with $$$$$ it earned  at 0% interest from taxpayers.  All at zero
What a racket.  

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