Wednesday
May082013
Bill Cohan: Goldman Sachs Will Never Be Allowed To Fail
UNDER NO CIRCUMSTANCES
'They're not going to let Goldman go down the tubes.'
Lloyd Blankfein talks about deflation and too big to fail banks (Washington, May 3).
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Notable Points
- Discussion of Goldman's 1994 bankruptcy scare at 1:30.
- Blankfein on too big to fail at 3:10.
- His answer is basically incomprehensible.
- Watch it a few times for laughs.
- Listen to Cohan's response on too big to fail beginning at 3:45.
Reader Comments (13)
http://dailybail.com/home/lloyd-blankfein-took-home-425-million-in-goldman-stock-cash.html
$195 million in that timespan for JP Morgan CEO Jamie Dimon
$132 million for just two years work at Morgan Stanley for John Mack
Brian Moynihan has just stepped into his role as CEO of bank of America. But he stands to do just fine... His predecessor Ken Lewis made 150 million for 5 years before stepping down.
http://dailybail.com/home/ratigan-lloyd-blankfein-made-410-million-in-the-past-3-years.html
http://dailybail.com/home/obama-meets-with-too-big-to-jail-banks.html
But Goldman is more than some ordinary parasite. The real problem is that Goldman runs the Financial Stability Board since it's inception in 2009. Back then it was headed by Mario Draghi, now it's Mark Carney.
The FSB is in control of financial legislation throughout the G20 (and then some), which is where the bail-ins (as opposed to the bailouts) are coming from. And in the U.S., the FSB would very much appear to be in control of the entire Justice Department (i.e., the executive branch).
With the FSB controlling 2/3 branches of the federal gov't, there isn't a chance in hell that Goldman will be allowed to fail. Entire cabinets will be impeached before that happens.
Good memory, but no. deCarbonnel was all over the Exchange Stabilization Fund within the Treasury (but housed in the NY Fed).
For what is perhaps the densest (information per second) video presentation ever recorded, see deCarbonnel's 5-part juggernaut: "What I have been afraid to blog about: The ESF..."
http://www.zerohedge.com/news/presenting-exchange-stabilization-fund-5-parts-real-plunge-protection-team
Back to Cohan: It is odd that he wrote an 800-page book about Goldman Sachs (Money and Power: How Goldman Sachs Came to Rule the World (2011)) without mentioning the FSB, Mario Draghi, Mark Carney, or the Financial Stability Forum (predecessor of the FSB). And no, he doesn't talk about the ESF either.
That's a question I've been thinking about a lot lately. I've noticed that Obama has extended Bush's attack on the constitution to include the Declaration of Independence.
It was the Declaration that (1) established U.S. sovereignty and (2) recognized the inherent right of people to get rid of a government that oppresses its people. Under Obama, both principles are under siege right out in the open.
http://tpmdc.talkingpointsmemo.com/2013/05/armed-rebellion-poll.php
Cheyenne, what did you mean by this? Not arguing, of course, just curious what you were referencing.
See United States v. Curtiss-Wright Export Corp., 299 U.S. 304, 316 (1936)(colonies were independent prior to Declaration of Independence, which passed sovereignty from the Crown to the colonies as a whole, legally severing U.S. from Great Britain).
That's why Great Britain saw the Declaration as an act of treason. See Cramer v. United States, 325 U.S. 1, 14 (1945)(all signers of Declaration of Independence could have been hanged for treason).
Just as sovereignty was needed for the U.S. to break free of Great Britain (we didn't win the War of Independence until 1783), so too is the destruction of sovereignty required for the global banks to subject the American people to their rule. That war is being fought now, and we are losing--badly.
The Declaration was premised on the notion that people have the born right to jettison a government that's become too oppressive. Its first sentence reads: "When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation."
Today, people who question and criticize the government are under attack. Obama himself recently warned graduates of Ohio State not to listen to voices warning against government:
http://www.youtube.com/watch?v=eGmDQJG2JDk
This meme is growing among the elite. Watch for it.