Monday, April 19, 2010

Profit addicted junkies run Wall Street and Washington.

Goldman Sachs is whining that it was "broad sided" by the legal action the SEC has taken against it. Poor Goldman Sachs. The Wall Street Journal adds its bleat. "The SEC usually notifies firms ahead of a lawsuit as a courtesy to give them a chance for a last ditch settlement or to prepare for the public fallout." That is notice so they can buy their way out of their crimes or put their spin on things. Do working class people, the unemployed youth, the most vulnerable in society, do they get advance notice as a "courtesy" so they can make a deal or explain things the way they see it. No they are usually plucked off the streets handcuffed, tasered and thrown in jail. Why are the Goldman Sach's crooks not handcuffed, tasered and thrown in jail? This is the question. Not why they did not get notice as a courtesy.

This Goldman Sachs outfit are an organization of the greatest racketeering and influence. Robert Rubin was secretary of the treasury under Clinton and also the top man at Goldman Sachs. As secretary of the treasury he pushed through the repeal of the Glass Steagall act. This act, which came out of the economic collapse of the 1930's, prevented banks from using our savings to wager on stock markets and other speculative sectors. Rubin got this act repealed and opened the door to the flood of speculation which has seen banks use our savings to speculate and swindle in every imaginable area. Today he still has, as the Wall Street Journal says "the ear of the White House" and his son is hired by the Obama regime. Rubin helped Bush and Obama put together the bail out of Wall street and the financial institutions with our money. This bail out, which cost us American taxpayers hundreds of billions directly and trillions indirectly was over seen by another Goldman Sachs chief executive, Hank Paulson Jr. When it was tottering on the brink of collapse the Government gave Goldman Sachs 100 cents on the dollar for all the money it was in danger of losing with the American International Group. And again, using our taxes, it bought $billion of stock from Goldman Sachs to bail it out when nobody wanted to touch it. Goldman Sachs is a crook and a racketeer which bribes its way into government and when there uses its positions to further its own ends, increase its own profits.

The banks and financial institutions must be taken out of private hands, out of the hands of the profit addicted junkies like Rubin and Paulson and the rest. These people are dragging the US and world economy down to a new catastrophe. I use the words "profit addicted" deliberately. That is what these people are. Whether it is the new coming collapse of the US and world economy, whether it is the destruction of the environment, whether it is the destruction of life on earth as we know it, this profit addicted capitalist class, these profit junkies, cannot help themselves. They will destroy all to make their profits. They will destroy all to get that needle of profit for their arm, that profit cocaine for their nose, they have to be removed from control of the system. they have forfeited the right to rule.

The union leaders who control the big union forces are a disgrace. They let these profit junkies rule without challenge. Like capitalism has forfeited its right to exists and the capitalist class its right to be in charge, the union leaders have forfeited their right to lead. We have to build a fighting union movement which can take on the bosses, which can take the economy into public ownership under workers control and management, which can build a democratic socialist world.

Sean.

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