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Wall Street’s War

Have you heard? Goldman Sachs is “a shell of its former self.”

Fortunately for its executives, this “shell” earned $8.91 billion in 2013, just a few short years after its leaders mismanaged it into the ground as its bankers committed serial fraud.

There’s no reason to believe that the column that described Goldman as a “shell” was written by Wall Street lobbyists. But it probably didn’t make them unhappy, either. That column, titled “How Washington beat Wall Street,” also asserted that “Washington went to war against big Wall Street banks hoping to blow up the kind of high-risk, high-reward strategies that helped spark the financial crisis.”

via Wall Street’s War | Richard (RJ) Eskow.

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