Why Greg Smith was right about Goldman Sachs | Larry Elliott | Comment is free | guardian.co.uk

by peterjukes

Those financiers who had spent the previous 15 years demanding that Washington get off the back of business suddenly found that there was case for government, after all – even if that only amounted to a willingness to write big cheques that would guarantee their annual bonuses. Rightly, ordinary voters were disgusted: privatising gain and socialising losses is not the way American capitalism (or any other form of it) is supposed to work.

via Why Greg Smith was right about Goldman Sachs | Larry Elliott | Comment is free | guardian.co.uk.

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