the great american bubble machine

the great american bubble machine

So, the always inflammatory Matt Taibbi is absolutely laying waste to Goldman in the latest edition of Rolling Stone. Zero Hedge has a copy of the article. The title of the article is "The Great American Bubble Machine: From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again" so needless to say this is absolute red meat for everyone who despises Goldman (but of course there are none of those people on CAPS...).

The article basically lays the crash of the NASDAQ, the housing bubble, $4 a gallon gas, and the ridiculous nature of the bank bailout all at the feet of the Gods of Finance. This has all been discussed before, but it is still interesting to reread it, and Taibbi has some details I hadn't read before. However, the best parts come toward the end, when he accuses Goldman of using their influence to rig our current energy policy and create yet another playground for them to leach away our money. Of course, this is a RS article and a lot of the accusations are hearsay, but it's still an interesting read. Be forewarned, if you haven't read into the wonderful business practices of the boys at GS, then this is a lot of crooked and perverse bullsh*t to wade through at once. Regardless, these are certainly interesting times we are living through...