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Dylan Ratigan fans, heads up. Dylan dons a magician's outfit to show how Goldman Sachs

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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 08:44 AM
Original message
Dylan Ratigan fans, heads up. Dylan dons a magician's outfit to show how Goldman Sachs
made a $3 Billion profit despite the financial crisis. Should be good.

Coming up on MSNBC...



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Phoebe Loosinhouse Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:01 AM
Response to Original message
1. Dylan Ratigan is a muckraker/truth exposer extraordinaire
in all issues financial, bail-out, tarp, etc.

I gain new respect for him almost every day.
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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:44 AM
Response to Reply #1
2. Coming up next... n/t
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AllentownJake Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:45 AM
Response to Original message
3. I can't wait to see this
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lonestarnot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:47 AM
Response to Original message
4. Is it done yet?
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AllentownJake Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:48 AM
Response to Reply #4
5. Just starting
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lonestarnot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:54 AM
Response to Original message
6. Yeah we got it! And so did those now homeless folks who had their life savings
Edited on Fri Oct-16-09 09:55 AM by lonestarnot
ripped for a CEO bonus. Shock and awe econ 101, Jump mother fuckers JUMP!
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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:55 AM
Response to Reply #6
7. We financed our own screwning. n/t
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lonestarnot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:56 AM
Response to Reply #7
8. and w/o consent!
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Neecy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:56 AM
Response to Original message
9. That was a good segment
I guess when you shove billions and billions of taxpayer dollars to a company like GS in an economic downturn, they'll get to sweep up all the chips. They're the only ones with money.

Disgusting.

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AllentownJake Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 09:58 AM
Response to Reply #9
10. and the access
Edited on Fri Oct-16-09 09:58 AM by AllentownJake
Can't forget the access, the Obama Administration is pretty much a subsidiary of Goldman Sachs continuing the same thing that happened under the last years of Bush.
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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 10:23 AM
Response to Reply #9
11. You know what is missing from that segment? This:
Goldman Sachs is engaged in http://en.wikipedia.org/wiki/Algorithmic_trading#Market_making_and_high_frequency_trading">high-frequency trading (HFT). Some critics charge that the practice of HFT tips the level of the playing field in favor of Goldman Sachs and others who employ an HFT strategy.

According to Senator Edward Kaufman (D - Del.), who http://www.realclearmarkets.com/articles/2009/07/31/a_level_playing_field_for_investors_97337.html">sent a letter to the SEC in which he stated:



Regrettably, we now have an unfair playing field for investors. This leaves us with, in effect, two financial markets: one for powerful insiders, who use high-speed computers and privileged access to information to exploit loopholes for profit, and another for the average investor, who must play by the rules and whose orders are filled almost as an afterthought. This situation simply cannot continue. It is the financial equivalent of 'separate and unequal.'



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lonestarnot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 10:18 PM
Response to Reply #11
12. Yes.
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-16-09 11:37 PM
Response to Original message
13. Excellent!
That should be part of his regular gig. :-)
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