Goldman Sachs: The Bubble Maker
I'm a big supporter of capitalism. But over the past few years capitalism has been given a bad name. Dig a little deeper than the headlines though and you'll realize that what's bad isn't capitalism but the corruption of the government by a few nefarious companies. As Matt Taibbi explains, Goldman Sachs, appears to be one of the biggest culprits.
Here's a snippet:
"Well, you might say, who cares? If cap-and-trade succeeds, won't we all be saved from the catastrophe of global warming? Maybe — but capandtrade, as envisioned by Goldman, is really just a carbon tax structured so that private interests collect the revenues. Instead of simply imposing a fixed government levy on carbon pollution and forcing unclean energy producers to pay for the mess they make, cap-and-trade will allow a small tribe of greedy-as-hell Wall Street swine to turn yet another commodities market into a private taxcollection scheme. This is worse than the bailout: It allows the bank to seize taxpayer money before it's even collected."
No comments:
Post a Comment