Surprise, surprise! Chase and Goldman Sachs just posted close to 8 billion in combined profit.
The banks have recovered! woo fucking hoo. The Recessions is ova, dudes.
What? you say you are still unemployed? can’t find a job? Bank foreclosed on you? Multiple pay cuts?
Credit card fees through the roof even though you pay on time?
Welcome to the recovery-less recovery. How are you going to do to celebrate your permanent wage slavedom?
The New York Times reports on this latest round of profit posting and bonuses as if it’s all sunshine and butterflies for the economy. Bullshit.
They are missing the point. The may have recovered because we gave them all the fucking money and took their debt!!! We (the people) will not recover from this.
NYT finally comes around but only slightly… with a piece on Goldmans PR/ image problem!
Salon’s Glenn Greenwald has more serious concerns about Goldman’s latest coup.
“Apparently, the U.S. government didn’t have enough Goldman Sachs executives in key financial and regulatory positions, so the following happened this week:
A Goldman Sachs executive has been named the first chief operating officer of the Securities and Exchange Commission’s enforcement division.
The market watchdog says Adam Storch, vice president in Goldman Sachs’ Business Intelligence Group, is assuming the new position of managing executive of the SEC division.
The move comes as the SEC revamps its enforcement efforts following the agency’s failure to uncover Bernard Madoff’s massive fraud scheme for nearly two decades despite numerous red flags.”
Somehow is just keeps getting worse.
I know it’s futile but write you representative about all this.