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	<title>Comments on: How Goldman Sachs Made Tens Of Billions Of Dollars From The Economic Collapse Of America In Four Easy Steps</title>
	<atom:link href="http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/feed" rel="self" type="application/rss+xml" />
	<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps</link>
	<description>Are You Prepared For The Coming Economic Collapse And The Next Great Depression?</description>
	<lastBuildDate>Wed, 08 Sep 2010 03:04:09 +0000</lastBuildDate>
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		<title>By: Nic</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-4519</link>
		<dc:creator>Nic</dc:creator>
		<pubDate>Tue, 08 Jun 2010 14:43:20 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-4519</guid>
		<description>I only need to name 1 family that has been sitting behind this and many more for many years now: The Rothschilds.

Their immediate partners in crime: Rockefellers, Du Ponts, Ruperts and the Oppenheimers.

Go look where these names pop up throughout the last 200 years and what roles they played in subjects ranging from World Wars, Wall Street Crash, GM Foods, Pharmaceutical Industry, Banking, Oil etc.</description>
		<content:encoded><![CDATA[<p>I only need to name 1 family that has been sitting behind this and many more for many years now: The Rothschilds.</p>
<p>Their immediate partners in crime: Rockefellers, Du Ponts, Ruperts and the Oppenheimers.</p>
<p>Go look where these names pop up throughout the last 200 years and what roles they played in subjects ranging from World Wars, Wall Street Crash, GM Foods, Pharmaceutical Industry, Banking, Oil etc.</p>
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		<title>By: Finance Complaints</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-2249</link>
		<dc:creator>Finance Complaints</dc:creator>
		<pubDate>Mon, 19 Apr 2010 09:24:27 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-2249</guid>
		<description>Its incredible that such a large institution like Goldman Sachs  had to stoop so low and sell an investment product  to consumers offering them  high investment returns  while the company itself was  betting for the product to go bust and make money!  Great way to bring value</description>
		<content:encoded><![CDATA[<p>Its incredible that such a large institution like Goldman Sachs  had to stoop so low and sell an investment product  to consumers offering them  high investment returns  while the company itself was  betting for the product to go bust and make money!  Great way to bring value</p>
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		<title>By: challie</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-153</link>
		<dc:creator>challie</dc:creator>
		<pubDate>Mon, 18 Jan 2010 15:20:03 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-153</guid>
		<description>The sophistication of stealing has become so dressed in finery that the theft cannot be detected.</description>
		<content:encoded><![CDATA[<p>The sophistication of stealing has become so dressed in finery that the theft cannot be detected.</p>
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		<title>By: Mike G</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-145</link>
		<dc:creator>Mike G</dc:creator>
		<pubDate>Sun, 17 Jan 2010 23:34:47 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-145</guid>
		<description>There are many proposed solutions, when most of us don&#039;t know the root of our problem!

We are all chasing our tails, when we attempt to hold the corrupt accountable and responsible for their actions ...

if we &quot;hack at the leaves, versus go for the roots&quot; - we really need to get to the root of the problem and the related problems will all melt away.  If one controls one&#039;s money, you control their life, and that&#039;s why they keep boom and bust cycles in the economy, it&#039;s a way of enslaving people really.  Deceitfully transferring wealth from citizens, primarily middle class without their awareness.

Bottom line is...
Starting with two simple definitions and roles:

Corporations represent a goal of accumulating wealth/ money and 

GOVERNMENT should be designed to protect individual rights and liberties and hence regulate capitalism or corporations.  Healthy competition, not monopolies and nationalizing, etc.

CORPORATIONS have hijacked our government.


Although this may now be obvious to most of us...
How can we undo the damage and dismantle what amounts to organized crime, and safeguard ourselves to re-instate our rights, freedoms and liberties that are deliberately and slowing being taken away from us?  

Because, once they have us become dependent on them, whether it&#039;s dependent on credit, a program, etc. they gain control and we lose our independence.  

Therefore, in that regard, we must sever/ disassociate and not participate in the system or systems that doesn&#039;t serve us.

Ie. Stock Market being manipulated with values, Fiat or Paper Currencies as a store of your savings or wealth, how do we back the dollar with tangible asset like gold again if they don&#039;t?  Trade your dollars for it and buy it.  You can back your dollars by gold and by doing so, that action holds them responsible and doesn&#039;t allow them to inflate the dollar and play the paper game.  

Hard physical assets, not representation of those assets by paper aka housing bubble, dot com bubble, stocks, savings and loans, etc.

 It&#039;s a form of socialism, fascism, or communism, whatever you want to call it, our independence is much more difficult to get back once it&#039;s gone, then it is to prevent or safeguard it&#039;s erosion.

How do we protect ourselves and reform these corrupt systems?

We have to know the root of the problem, to know what to do to fix the problem.  

Again corporate America - unregulated capitalism, and the continued de-regulation of our economy/ politics (campaign contributions, etc) which most people are unaware that it is happening because the media and the &quot;official&quot; news is no longer unbiased but becoming a monopoly - bought and paid for.  Use internet news, vs televised news.  Not USA news but news sources throughout the world for perspective.  

Money runs the show here in America, not ethics and morals.  Learn and watch one&#039;s actions, not their words.  Politicians and leaders and newsmen will speak of &quot;protecting the dollar,&quot; made in USA, &quot; and &quot;stimulating the economy&quot; when in reality, those are just labels to disguise intent and they are deliberately causing the opposite to occur for reason of profiting- money.

ROOT PROBLEM: WE support corporations that take advantage of us - ** we spend our dollars with them ** being unaware of how they harm us financially, or with our health, etc.

THEREFORE REMEMBER: **If we stop doing business with these corrupt individuals and companies/ organizations, they would not be able to control our government and cause the current manipulations at our expense.  We need to kill the monster when it&#039;s little, before it grows and becomes unmanageable.**  

We have incredible documents created by wise men for our benefit, who understood what we take for granted, and looked to safeguard us from the very thing we are experiencing, those documents were called the ** Bill of Rights and the Constitution.**  Which new laws are created to negate or dilute these safeguards... Create pressure (loss of jobs in washington, impeachment etc.) to dissolve them.  If we truly lose our freedoms and liberties where we suffer in our own daily lives, we will at that moment come to finally realize, cherish and protect these insightful and impactful documents once again.

Don&#039;t support the systems that sabotages your lifestyle. ** Don&#039;t wait for the system to change, but change your own system.**

Hold real money, not monopoly money and lose the tie and worry to ups and downs in the market.  If you measure the S&amp;P/ DOW/ stock market in real money, against gold, it&#039;s actually crashing while they talk of recovery and rally.  

Spend your dollars wisely with those who earn and deserve it and not with those who provide a short term low cost solution with the price of a long term expense to your livelihood  

Live with a clear conscious that you are doing your part and providing a good example and shedding some light to those around you.  God Bless  
mgmoose@yahoo
can also view my website at nynaturhealthcenter</description>
		<content:encoded><![CDATA[<p>There are many proposed solutions, when most of us don&#8217;t know the root of our problem!</p>
<p>We are all chasing our tails, when we attempt to hold the corrupt accountable and responsible for their actions &#8230;</p>
<p>if we &#8220;hack at the leaves, versus go for the roots&#8221; &#8211; we really need to get to the root of the problem and the related problems will all melt away.  If one controls one&#8217;s money, you control their life, and that&#8217;s why they keep boom and bust cycles in the economy, it&#8217;s a way of enslaving people really.  Deceitfully transferring wealth from citizens, primarily middle class without their awareness.</p>
<p>Bottom line is&#8230;<br />
Starting with two simple definitions and roles:</p>
<p>Corporations represent a goal of accumulating wealth/ money and </p>
<p>GOVERNMENT should be designed to protect individual rights and liberties and hence regulate capitalism or corporations.  Healthy competition, not monopolies and nationalizing, etc.</p>
<p>CORPORATIONS have hijacked our government.</p>
<p>Although this may now be obvious to most of us&#8230;<br />
How can we undo the damage and dismantle what amounts to organized crime, and safeguard ourselves to re-instate our rights, freedoms and liberties that are deliberately and slowing being taken away from us?  </p>
<p>Because, once they have us become dependent on them, whether it&#8217;s dependent on credit, a program, etc. they gain control and we lose our independence.  </p>
<p>Therefore, in that regard, we must sever/ disassociate and not participate in the system or systems that doesn&#8217;t serve us.</p>
<p>Ie. Stock Market being manipulated with values, Fiat or Paper Currencies as a store of your savings or wealth, how do we back the dollar with tangible asset like gold again if they don&#8217;t?  Trade your dollars for it and buy it.  You can back your dollars by gold and by doing so, that action holds them responsible and doesn&#8217;t allow them to inflate the dollar and play the paper game.  </p>
<p>Hard physical assets, not representation of those assets by paper aka housing bubble, dot com bubble, stocks, savings and loans, etc.</p>
<p> It&#8217;s a form of socialism, fascism, or communism, whatever you want to call it, our independence is much more difficult to get back once it&#8217;s gone, then it is to prevent or safeguard it&#8217;s erosion.</p>
<p>How do we protect ourselves and reform these corrupt systems?</p>
<p>We have to know the root of the problem, to know what to do to fix the problem.  </p>
<p>Again corporate America &#8211; unregulated capitalism, and the continued de-regulation of our economy/ politics (campaign contributions, etc) which most people are unaware that it is happening because the media and the &#8220;official&#8221; news is no longer unbiased but becoming a monopoly &#8211; bought and paid for.  Use internet news, vs televised news.  Not USA news but news sources throughout the world for perspective.  </p>
<p>Money runs the show here in America, not ethics and morals.  Learn and watch one&#8217;s actions, not their words.  Politicians and leaders and newsmen will speak of &#8220;protecting the dollar,&#8221; made in USA, &#8221; and &#8220;stimulating the economy&#8221; when in reality, those are just labels to disguise intent and they are deliberately causing the opposite to occur for reason of profiting- money.</p>
<p>ROOT PROBLEM: WE support corporations that take advantage of us &#8211; ** we spend our dollars with them ** being unaware of how they harm us financially, or with our health, etc.</p>
<p>THEREFORE REMEMBER: **If we stop doing business with these corrupt individuals and companies/ organizations, they would not be able to control our government and cause the current manipulations at our expense.  We need to kill the monster when it&#8217;s little, before it grows and becomes unmanageable.**  </p>
<p>We have incredible documents created by wise men for our benefit, who understood what we take for granted, and looked to safeguard us from the very thing we are experiencing, those documents were called the ** Bill of Rights and the Constitution.**  Which new laws are created to negate or dilute these safeguards&#8230; Create pressure (loss of jobs in washington, impeachment etc.) to dissolve them.  If we truly lose our freedoms and liberties where we suffer in our own daily lives, we will at that moment come to finally realize, cherish and protect these insightful and impactful documents once again.</p>
<p>Don&#8217;t support the systems that sabotages your lifestyle. ** Don&#8217;t wait for the system to change, but change your own system.**</p>
<p>Hold real money, not monopoly money and lose the tie and worry to ups and downs in the market.  If you measure the S&amp;P/ DOW/ stock market in real money, against gold, it&#8217;s actually crashing while they talk of recovery and rally.  </p>
<p>Spend your dollars wisely with those who earn and deserve it and not with those who provide a short term low cost solution with the price of a long term expense to your livelihood  </p>
<p>Live with a clear conscious that you are doing your part and providing a good example and shedding some light to those around you.  God Bless<br />
mgmoose@yahoo<br />
can also view my website at nynaturhealthcenter</p>
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		<title>By: theonlyidiotintheroom</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-106</link>
		<dc:creator>theonlyidiotintheroom</dc:creator>
		<pubDate>Wed, 13 Jan 2010 01:37:29 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-106</guid>
		<description>Problem-reaction-solution..Perfect!!</description>
		<content:encoded><![CDATA[<p>Problem-reaction-solution..Perfect!!</p>
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		<title>By: John</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-100</link>
		<dc:creator>John</dc:creator>
		<pubDate>Tue, 12 Jan 2010 14:29:58 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-100</guid>
		<description>Rose is your typical dolt that votes against their best interests.  Rose doesn&#039;t understand how powerful the GS forces are and just how much destruction they cause in the name of free market profits.  Go back to sleep Rose.  Don&#039;t attempt to keep up with the pack.</description>
		<content:encoded><![CDATA[<p>Rose is your typical dolt that votes against their best interests.  Rose doesn&#8217;t understand how powerful the GS forces are and just how much destruction they cause in the name of free market profits.  Go back to sleep Rose.  Don&#8217;t attempt to keep up with the pack.</p>
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		<title>By: taxee</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-87</link>
		<dc:creator>taxee</dc:creator>
		<pubDate>Mon, 11 Jan 2010 14:45:06 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-87</guid>
		<description>If we return to taxing extravagant income extravagantly we make it unprofitable to steal. Tax evasion is punishable by hard time. That is how you stop the mafia and pay off the debt.</description>
		<content:encoded><![CDATA[<p>If we return to taxing extravagant income extravagantly we make it unprofitable to steal. Tax evasion is punishable by hard time. That is how you stop the mafia and pay off the debt.</p>
]]></content:encoded>
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		<title>By: Richard B</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-64</link>
		<dc:creator>Richard B</dc:creator>
		<pubDate>Tue, 05 Jan 2010 23:24:14 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-64</guid>
		<description>What do you mean &quot;TENS OF BILLIONS&quot; ?

Goldman was also provided with status as a Trading Bank.  Under&quot;Fiat Banking Rules&quot; this provision allowed them to lend out (to themselves ?) and charge interest on TEN TIMES THE AMOUNT OF THEIR CASH HOLDINGS - A MAGNITUDE OF TEN.  This has resulted in potentially hundreds of billions of dollars of potential &#039;future gains&#039;.  Unless it is your intent to purposely mislead your readers, I think you need to give more thought to your your numbers.</description>
		<content:encoded><![CDATA[<p>What do you mean &#8220;TENS OF BILLIONS&#8221; ?</p>
<p>Goldman was also provided with status as a Trading Bank.  Under&#8221;Fiat Banking Rules&#8221; this provision allowed them to lend out (to themselves ?) and charge interest on TEN TIMES THE AMOUNT OF THEIR CASH HOLDINGS &#8211; A MAGNITUDE OF TEN.  This has resulted in potentially hundreds of billions of dollars of potential &#8216;future gains&#8217;.  Unless it is your intent to purposely mislead your readers, I think you need to give more thought to your your numbers.</p>
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		<title>By: PETER S</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-63</link>
		<dc:creator>PETER S</dc:creator>
		<pubDate>Tue, 05 Jan 2010 22:43:59 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-63</guid>
		<description>Why investigate Goldman Sachs at all? The insurance they took out rightfully belongs to the victims who bought their products. I think they did the decent thing in insuring themselves. They just need to be reminded that insuring yourself when you don&#039;t stand to make a loss is a corrupt use of insurance.</description>
		<content:encoded><![CDATA[<p>Why investigate Goldman Sachs at all? The insurance they took out rightfully belongs to the victims who bought their products. I think they did the decent thing in insuring themselves. They just need to be reminded that insuring yourself when you don&#8217;t stand to make a loss is a corrupt use of insurance.</p>
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		<title>By: Mesohony4u</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-61</link>
		<dc:creator>Mesohony4u</dc:creator>
		<pubDate>Tue, 05 Jan 2010 04:35:03 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-61</guid>
		<description>I agree with much of this argument. The recent financial collapse involved many parties: subprime borrowers, lenders, securitizers, servicers, credit rating agencies, investors, and governments. 

When investment banks like Goldman Sachs market financial securities like credit based securities and derivatives they should be required to provide accurate and comprehensive information to their investor clients. However, investor clients must exercise responsibility using proper research, analysis, and judgement when making investment decisions. 

If the investment bank “short sells” the very same securities it markets to investor clients and benefits from the decline their value, then such outcomes involve questionable ethical behavior. Short selling is not unethical market behavior and assumes high risk for the short seller because if the price of the short sold product increases, then the short seller incurs the loss. If the risks of such investment products were not properly disclosed to investor clients; the investment bank benefits from the decline in their value; and the investment bank knew such products had risks that could cause harm to the investor clients then such activities could demonstrate fraud, deception, or misrepresentation depending on opinion and law.

However, the U.S. federal government performed the most insidious actions during this financial crisis. By providing a myriad of assistances including direct payments, borrowing privileges, and guarantees using public funds, the financial institutions like Goldman Sachs enormously benefited though they were largely responsible for exacerbating if not creating this financial crisis. When economic conditions were favorable, they assumed greater and even excessive risks to maximize profits and compensation for themselves. But when economic conditions became less favorable, they recieved incredible assistance from the government using public funds when responsible economic actors did not cause or propogate such crisis and did not recieve the same level of assistance and therefore suffered. 

Furthermore, such assistance creates at least two additional problems for the economy. Since the federal government assistance to financial institutions involved borrowed funds, these funds will require higher level repayment due to interest costs. Though Goldman Sachs and some financial institutions repaid financial assistance to the federal government, others did not or most likely will not including AIG, GMAC, GM, Fannie Mae, Freddie Mac, etc. Such losses will be compensated for by the taxpayer resulting in social or foregone loss/cost. 

Some argue that if the government did not intervene to save such entities then the financial and economic system would be worse, but they provide no evidence to support such an argument. It is true, however, many individuals lost their jobs and businesses failed. If the financial system’s actors failed then they would be in the same condition as those individuals and businesses. The U.S. economy suffered through more difficult hardship in the Great Depression Era 1929-1940 but still managed to proceed and become the most successful economy in the world. This economic recession most likely would not have become as severe as the Great Depression assuming very low interest rates to stimulate increased investment and spending and bank deposit insurance to prevent acute withdrawal of funds resulting in financial collapse. The US recession in 1929-1930 became the Great Depression because of inadequate assurance of banking system deposits and improper monetary policies. In addition, this recession will not be as severe as the Great Depression because of the general higher standard of living in 2000s and beyond compared to the 1930s.

The second problem is in the future. By providing failed economic actors with assistance, they develop a sense of entitlement, arrogance, denial, and riskier behaviors. Financial institutions like Goldman Sachs will most probably not learn from their mistakes that led to this financial crisis and will continue to assume greater risks in the future requiring unfortunate and sympathetic actors in government to provide assistance to prevent their failure. This should not be tolerated or supported by the public in general because it rewards failure and productive successful economies should reward those who create and add value and do not undermine or destroy it.

To help prevent such a crisis from reocurrence, better risk controls must be formulated and implemented by the financial system and regulators including but not exclusively the following:

1. Separate investment banks from commercial banks to prevent the aggregation of risk that increases the risk of systemic failure. Investment banks should not be subject to the following suggested regulations (see below 2 and 3) because they assume greater risks and do not maintain deposits like commercial banks. In addition, if investment banks do fail, they will not recieve any financial assistance from the public through any government entity.
2. Maintain or increase capital requirements for commercial banks to 10 percent. This provides some limitation on the amount of borrowed capital to reduce credit risk in the financial system but is not such a difficult requirement resulting in less lending.
3. Significantly increase FDIC insurance premiums for commercial banks based on the level of risk in the assets of a bank(s)to provide sufficient funds to indemnify individuals who lose funds in failed banks. This action also prevents large acute withdrawals of funds from the financial system and reduce the amount of risks banks assume in lending and investing.
4. Create and monitor exchange(s) for derivatives and require 100 percent margin or collateral for the trading participants to eliminate or at least significantly reduce counterparty/default risk in the financial system.
5. Withdraw and recover as much public assistance provided to the financial system as soon as possible.</description>
		<content:encoded><![CDATA[<p>I agree with much of this argument. The recent financial collapse involved many parties: subprime borrowers, lenders, securitizers, servicers, credit rating agencies, investors, and governments. </p>
<p>When investment banks like Goldman Sachs market financial securities like credit based securities and derivatives they should be required to provide accurate and comprehensive information to their investor clients. However, investor clients must exercise responsibility using proper research, analysis, and judgement when making investment decisions. </p>
<p>If the investment bank “short sells” the very same securities it markets to investor clients and benefits from the decline their value, then such outcomes involve questionable ethical behavior. Short selling is not unethical market behavior and assumes high risk for the short seller because if the price of the short sold product increases, then the short seller incurs the loss. If the risks of such investment products were not properly disclosed to investor clients; the investment bank benefits from the decline in their value; and the investment bank knew such products had risks that could cause harm to the investor clients then such activities could demonstrate fraud, deception, or misrepresentation depending on opinion and law.</p>
<p>However, the U.S. federal government performed the most insidious actions during this financial crisis. By providing a myriad of assistances including direct payments, borrowing privileges, and guarantees using public funds, the financial institutions like Goldman Sachs enormously benefited though they were largely responsible for exacerbating if not creating this financial crisis. When economic conditions were favorable, they assumed greater and even excessive risks to maximize profits and compensation for themselves. But when economic conditions became less favorable, they recieved incredible assistance from the government using public funds when responsible economic actors did not cause or propogate such crisis and did not recieve the same level of assistance and therefore suffered. </p>
<p>Furthermore, such assistance creates at least two additional problems for the economy. Since the federal government assistance to financial institutions involved borrowed funds, these funds will require higher level repayment due to interest costs. Though Goldman Sachs and some financial institutions repaid financial assistance to the federal government, others did not or most likely will not including AIG, GMAC, GM, Fannie Mae, Freddie Mac, etc. Such losses will be compensated for by the taxpayer resulting in social or foregone loss/cost. </p>
<p>Some argue that if the government did not intervene to save such entities then the financial and economic system would be worse, but they provide no evidence to support such an argument. It is true, however, many individuals lost their jobs and businesses failed. If the financial system’s actors failed then they would be in the same condition as those individuals and businesses. The U.S. economy suffered through more difficult hardship in the Great Depression Era 1929-1940 but still managed to proceed and become the most successful economy in the world. This economic recession most likely would not have become as severe as the Great Depression assuming very low interest rates to stimulate increased investment and spending and bank deposit insurance to prevent acute withdrawal of funds resulting in financial collapse. The US recession in 1929-1930 became the Great Depression because of inadequate assurance of banking system deposits and improper monetary policies. In addition, this recession will not be as severe as the Great Depression because of the general higher standard of living in 2000s and beyond compared to the 1930s.</p>
<p>The second problem is in the future. By providing failed economic actors with assistance, they develop a sense of entitlement, arrogance, denial, and riskier behaviors. Financial institutions like Goldman Sachs will most probably not learn from their mistakes that led to this financial crisis and will continue to assume greater risks in the future requiring unfortunate and sympathetic actors in government to provide assistance to prevent their failure. This should not be tolerated or supported by the public in general because it rewards failure and productive successful economies should reward those who create and add value and do not undermine or destroy it.</p>
<p>To help prevent such a crisis from reocurrence, better risk controls must be formulated and implemented by the financial system and regulators including but not exclusively the following:</p>
<p>1. Separate investment banks from commercial banks to prevent the aggregation of risk that increases the risk of systemic failure. Investment banks should not be subject to the following suggested regulations (see below 2 and 3) because they assume greater risks and do not maintain deposits like commercial banks. In addition, if investment banks do fail, they will not recieve any financial assistance from the public through any government entity.<br />
2. Maintain or increase capital requirements for commercial banks to 10 percent. This provides some limitation on the amount of borrowed capital to reduce credit risk in the financial system but is not such a difficult requirement resulting in less lending.<br />
3. Significantly increase FDIC insurance premiums for commercial banks based on the level of risk in the assets of a bank(s)to provide sufficient funds to indemnify individuals who lose funds in failed banks. This action also prevents large acute withdrawals of funds from the financial system and reduce the amount of risks banks assume in lending and investing.<br />
4. Create and monitor exchange(s) for derivatives and require 100 percent margin or collateral for the trading participants to eliminate or at least significantly reduce counterparty/default risk in the financial system.<br />
5. Withdraw and recover as much public assistance provided to the financial system as soon as possible.</p>
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		<title>By: Dave Lowe</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-60</link>
		<dc:creator>Dave Lowe</dc:creator>
		<pubDate>Mon, 04 Jan 2010 23:52:55 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-60</guid>
		<description>Let&#039;s keep it simple. When you boil it all down, Fiat Money and Fractional Reserve banking are at the root of all this.</description>
		<content:encoded><![CDATA[<p>Let&#8217;s keep it simple. When you boil it all down, Fiat Money and Fractional Reserve banking are at the root of all this.</p>
]]></content:encoded>
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	<item>
		<title>By: ian</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-58</link>
		<dc:creator>ian</dc:creator>
		<pubDate>Mon, 04 Jan 2010 19:37:49 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-58</guid>
		<description>Oh, just bottom line it. Goldman BOUGHT THE GOVERNMENT and then acted accordingly. It was the most profitable investment available.

And it worked. Current policy is proof.</description>
		<content:encoded><![CDATA[<p>Oh, just bottom line it. Goldman BOUGHT THE GOVERNMENT and then acted accordingly. It was the most profitable investment available.</p>
<p>And it worked. Current policy is proof.</p>
]]></content:encoded>
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		<title>By: How Goldman Sachs Made Tens of Billions of Dollars From Economic Collapse : Kevin Trudeau Show</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-57</link>
		<dc:creator>How Goldman Sachs Made Tens of Billions of Dollars From Economic Collapse : Kevin Trudeau Show</dc:creator>
		<pubDate>Mon, 04 Jan 2010 17:21:17 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-57</guid>
		<description>[...] To continue reading this report, click here.  [...]</description>
		<content:encoded><![CDATA[<p>[...] To continue reading this report, click here.  [...]</p>
]]></content:encoded>
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		<title>By: Randy</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-56</link>
		<dc:creator>Randy</dc:creator>
		<pubDate>Mon, 04 Jan 2010 15:14:23 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-56</guid>
		<description>This is silly, the real problem is that people aren&#039;t calling an ace an ace, a spade a spade. Goldman is not a *bona fide* investment bank anymore. Investment banks specialize in underwriting securities vis-a-vis M&amp;As. In fact, as a percentage of their total revenue, investment banking (IB) has been on a decline since the early 00s. And even after the collapse of Bear Stearns and Lehman, the IB revenue didn&#039;t immediately spike up in Goldman&#039;s coffers as one would expect. What Goldman is is a hedge fund which can take any position (short or long) it wants on any security, bond, currency &amp;/o derivative, futures. The problem is that the hedge fund half commands 80+% of its revenue and thus, influences the IB research half to talk-up-the-markets. And in general, a leveraged hedge fund can make a fortune especially with inside information on market tops and bottoms.</description>
		<content:encoded><![CDATA[<p>This is silly, the real problem is that people aren&#8217;t calling an ace an ace, a spade a spade. Goldman is not a *bona fide* investment bank anymore. Investment banks specialize in underwriting securities vis-a-vis M&amp;As. In fact, as a percentage of their total revenue, investment banking (IB) has been on a decline since the early 00s. And even after the collapse of Bear Stearns and Lehman, the IB revenue didn&#8217;t immediately spike up in Goldman&#8217;s coffers as one would expect. What Goldman is is a hedge fund which can take any position (short or long) it wants on any security, bond, currency &amp;/o derivative, futures. The problem is that the hedge fund half commands 80+% of its revenue and thus, influences the IB research half to talk-up-the-markets. And in general, a leveraged hedge fund can make a fortune especially with inside information on market tops and bottoms.</p>
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		<title>By: Voir Dire</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-55</link>
		<dc:creator>Voir Dire</dc:creator>
		<pubDate>Mon, 04 Jan 2010 02:33:02 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-55</guid>
		<description>Thank you, blogmeister, for an extraordinary analysis/blog.  I applaud you, Sir, as you are a patriot extraordinaire.

The gloves continue to come off by those in the lamestream media (every aspect of the entire Western media resides in the hands of these same genetic kinsmen who&#039;ve used their monetary machinations/manipulations to buy/control it ALL) who&#039;ve had a nauseating bellyful of the blatant theft by these timeless Vampires.  Modern-day muckrakers, who&#039;ve quite possibly single-handedly restored respectability to the profession of objective journalism, are keeping a vigilant eye on our federal Leviathan and the dual-agent parasites infesting it. Do see the McClatchy paper&#039;s outstanding series on Goldman&#039;s epic fleecing:

How Goldman secretly bet on the U.S. housing crash
http://www.mcclatchydc.com/100/story/77791.html
 
For the feds, some Wall Street firms are too big — to punish
http://www.mcclatchydc.com/227/story/80277.html?storylink=omni_popular
 
Why haven&#039;t any Wall Street tycoons been sent to the slammer?
http://www.mcclatchydc.com/336/story/75720.html
 
How Moody&#039;s sold its ratings - and sold out investors

http://www.mcclatchydc.com/staff/kevin_hall/story/77244.html

Why did Goldman stop scrutinizing loans it bought?

http://www.mcclatchydc.com/homepage/story/77788.html

Goldman Takes on a New Role - Taking People&#039;s Homes

http://www.mcclatchydc.com/homepage/story/77841.html

For more damning indictments from the McClatchy stories, you can find those and other nuggets from the first link I posted including:

Story &#124; Goldman takes on new role: taking away people&#039;s homes
Story &#124; Goldman left foreign investors holding the subprime bag
Story &#124; Why did blue-chip Goldman take a walk on subprime&#039;s wild side?
Story &#124; Why did Goldman stop scrutinizing loans it bought?
Story &#124; Mortgage crisis shows why financial regulation is needed
Story &#124; How Moody&#039;s sold its ratings - and sold out investors
Graphic &#124; Goldman&#039;s revolving door with government
Video &#124; Goldman Sachs&#039; secret bets
Video &#124; One couple stands up to Goldman Sachs
Video &#124; McClatchy&#039;s Goldman Sachs probe
Video &#124; Goldman&#039;s changing role in subprime mortgages
On the Web &#124; State-by-state data on troubled mortgages
On the Web &#124; See our complete Goldman report

Wide Awake &amp; Fooled No More,

S.</description>
		<content:encoded><![CDATA[<p>Thank you, blogmeister, for an extraordinary analysis/blog.  I applaud you, Sir, as you are a patriot extraordinaire.</p>
<p>The gloves continue to come off by those in the lamestream media (every aspect of the entire Western media resides in the hands of these same genetic kinsmen who&#8217;ve used their monetary machinations/manipulations to buy/control it ALL) who&#8217;ve had a nauseating bellyful of the blatant theft by these timeless Vampires.  Modern-day muckrakers, who&#8217;ve quite possibly single-handedly restored respectability to the profession of objective journalism, are keeping a vigilant eye on our federal Leviathan and the dual-agent parasites infesting it. Do see the McClatchy paper&#8217;s outstanding series on Goldman&#8217;s epic fleecing:</p>
<p>How Goldman secretly bet on the U.S. housing crash<br />
<a href="http://www.mcclatchydc.com/100/story/77791.html" rel="nofollow">http://www.mcclatchydc.com/100/story/77791.html</a></p>
<p>For the feds, some Wall Street firms are too big — to punish<br />
<a href="http://www.mcclatchydc.com/227/story/80277.html?storylink=omni_popular" rel="nofollow">http://www.mcclatchydc.com/227/story/80277.html?storylink=omni_popular</a></p>
<p>Why haven&#8217;t any Wall Street tycoons been sent to the slammer?<br />
<a href="http://www.mcclatchydc.com/336/story/75720.html" rel="nofollow">http://www.mcclatchydc.com/336/story/75720.html</a></p>
<p>How Moody&#8217;s sold its ratings &#8211; and sold out investors</p>
<p><a href="http://www.mcclatchydc.com/staff/kevin_hall/story/77244.html" rel="nofollow">http://www.mcclatchydc.com/staff/kevin_hall/story/77244.html</a></p>
<p>Why did Goldman stop scrutinizing loans it bought?</p>
<p><a href="http://www.mcclatchydc.com/homepage/story/77788.html" rel="nofollow">http://www.mcclatchydc.com/homepage/story/77788.html</a></p>
<p>Goldman Takes on a New Role &#8211; Taking People&#8217;s Homes</p>
<p><a href="http://www.mcclatchydc.com/homepage/story/77841.html" rel="nofollow">http://www.mcclatchydc.com/homepage/story/77841.html</a></p>
<p>For more damning indictments from the McClatchy stories, you can find those and other nuggets from the first link I posted including:</p>
<p>Story | Goldman takes on new role: taking away people&#8217;s homes<br />
Story | Goldman left foreign investors holding the subprime bag<br />
Story | Why did blue-chip Goldman take a walk on subprime&#8217;s wild side?<br />
Story | Why did Goldman stop scrutinizing loans it bought?<br />
Story | Mortgage crisis shows why financial regulation is needed<br />
Story | How Moody&#8217;s sold its ratings &#8211; and sold out investors<br />
Graphic | Goldman&#8217;s revolving door with government<br />
Video | Goldman Sachs&#8217; secret bets<br />
Video | One couple stands up to Goldman Sachs<br />
Video | McClatchy&#8217;s Goldman Sachs probe<br />
Video | Goldman&#8217;s changing role in subprime mortgages<br />
On the Web | State-by-state data on troubled mortgages<br />
On the Web | See our complete Goldman report</p>
<p>Wide Awake &amp; Fooled No More,</p>
<p>S.</p>
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		<title>By: JackieG</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-54</link>
		<dc:creator>JackieG</dc:creator>
		<pubDate>Sun, 03 Jan 2010 20:58:38 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-54</guid>
		<description>Its relatively easy to screw up the likes of Goldman Sachs.
It can be done one a unique individual basis.
Just offer to pay the bank your mortgage loan is with.
Just seek the banks assurance they will do a direct and immediate exchange for payment of the original instrument of indebtedness in its original unadulterated form.
The bank is put in a spot known as between a rock and a hard spot.
The bank will refuse to accept your payment.
The bank will then turn to Goldman Sachs and demand reimbursement for their loss.
You get to keep your home with no one to make payments to.</description>
		<content:encoded><![CDATA[<p>Its relatively easy to screw up the likes of Goldman Sachs.<br />
It can be done one a unique individual basis.<br />
Just offer to pay the bank your mortgage loan is with.<br />
Just seek the banks assurance they will do a direct and immediate exchange for payment of the original instrument of indebtedness in its original unadulterated form.<br />
The bank is put in a spot known as between a rock and a hard spot.<br />
The bank will refuse to accept your payment.<br />
The bank will then turn to Goldman Sachs and demand reimbursement for their loss.<br />
You get to keep your home with no one to make payments to.</p>
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		<title>By: Paul Blake</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-53</link>
		<dc:creator>Paul Blake</dc:creator>
		<pubDate>Sun, 03 Jan 2010 16:13:51 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-53</guid>
		<description>&quot;WALL STREET CONTROLS AMERICA&quot;, &quot;I&#039;m shocked&quot; as Claude Raines put it in &quot;Casablanca&quot;.....</description>
		<content:encoded><![CDATA[<p>&#8220;WALL STREET CONTROLS AMERICA&#8221;, &#8220;I&#8217;m shocked&#8221; as Claude Raines put it in &#8220;Casablanca&#8221;&#8230;..</p>
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		<title>By: Rainey</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-52</link>
		<dc:creator>Rainey</dc:creator>
		<pubDate>Sun, 03 Jan 2010 08:04:51 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-52</guid>
		<description>Wasn&#039;t it Lenin who said, &#039;capitalists will sell us the rope we hang them with.&#039; In the case of Goldman and financialization of the entire US economy courtesy of various movers and shakers .. goes back to the time of Nixon really when he took us off gold cause the world was beating on our door claiming gold rather than dollars. BUT I digress, trying to fight the Vietnam War AND paying for LBJ&#039;s elaborate &#039;war on poverty&#039; helped push the US system over the edge leading to double digit inflation and the powers that be making policy particularly under Carter. Deregulation didn&#039;t begin under Reagan..in fact it went into high gear under Carter. One of the worst laws ever was passed in 1979, The Monetary Deregulation Act...all bets were off. We went from a pretty well balanced economy to one based on bubbles, corruption, cronyism, a horrific version of &#039;free trade,&#039; the end of engineering America, actually making &#039;stuff&#039; to sell to ourselves and the world, as foreign owners were allowed to buy out American companies, often run them into the ground while selling off lucrative parts. We saw Paul Volcker tell the world in 79 that the American standard of living would have to decrease so the rest of the world could increase. BOY did he every accomplish that deal. Now we have multibillion dollar trade deficit, a country that went from a producer saver nation to a maxed out, worn out, two jobs for two people, taxed and paying fees up the eye balls, regulated to death, while small and medium companies struggle with high taxes and over regulations .. and the BIG boys get off scot free in cahoots with BIG government. Goldman&#039;s crony capitalism should come as no surprise, as profit became the ONLY value ahead of country or countrymen. The chickens will come home to roost..sooner or later Goldman and their minions in government, on K-Street will pay the price of betrayal of the nation-state called America, ethical capitalism, in fact the chickens are already coming home to roost..in China. A small Chinese company just refused to pay up $80million or some such to Goldman&#039;s subsidiary in China..and the Chinese govt. is backing them up. Henry Paulson was known in most circles as China&#039;s best representative in the US. You could add most politicians to that list from BOTH parties and their husbands, wives or close associates. American&#039;s wages and salaries have been stagnant since 1979, from the time Volcker stated the desired policy of the powers that be..Americans became credit junkies cause that is HOW their standard of living, based on debt, rose at all. Goldman and JP Morgan, the central banks, AIG, Bank of America, Morgan Stanley, all the rest gave us casino economy and then bet against it and us. BUT the politicians who benefited...Obama received nearly a million dollars from Goldman employees, and since 1989 Christopher Dodd, chairman of the Senate Banking, received $43 million. Barney Frank, chairman of the House Financial Services Committee, got $7.8 million. The world and the US system changed decades ago, and not for the better. The powers that be that created the system didn&#039;t give us free market capitalism, they gave us corporate state fascism as BIG govt. and BIG banks or commercial interests shacked up and screwed us. It will come crashing down, and that maybe why Goldman execs are advised to carry firearms and not gather in groups of 12 or more. Thing is those in the US congress and senate should be just as worried...they were in a position to stop the rape and pillage of the US economic and political system but a bunch of souless unethical sharks who thought they could get away with what is arguably the biggest destruction of the US system in our history.</description>
		<content:encoded><![CDATA[<p>Wasn&#8217;t it Lenin who said, &#8216;capitalists will sell us the rope we hang them with.&#8217; In the case of Goldman and financialization of the entire US economy courtesy of various movers and shakers .. goes back to the time of Nixon really when he took us off gold cause the world was beating on our door claiming gold rather than dollars. BUT I digress, trying to fight the Vietnam War AND paying for LBJ&#8217;s elaborate &#8216;war on poverty&#8217; helped push the US system over the edge leading to double digit inflation and the powers that be making policy particularly under Carter. Deregulation didn&#8217;t begin under Reagan..in fact it went into high gear under Carter. One of the worst laws ever was passed in 1979, The Monetary Deregulation Act&#8230;all bets were off. We went from a pretty well balanced economy to one based on bubbles, corruption, cronyism, a horrific version of &#8216;free trade,&#8217; the end of engineering America, actually making &#8217;stuff&#8217; to sell to ourselves and the world, as foreign owners were allowed to buy out American companies, often run them into the ground while selling off lucrative parts. We saw Paul Volcker tell the world in 79 that the American standard of living would have to decrease so the rest of the world could increase. BOY did he every accomplish that deal. Now we have multibillion dollar trade deficit, a country that went from a producer saver nation to a maxed out, worn out, two jobs for two people, taxed and paying fees up the eye balls, regulated to death, while small and medium companies struggle with high taxes and over regulations .. and the BIG boys get off scot free in cahoots with BIG government. Goldman&#8217;s crony capitalism should come as no surprise, as profit became the ONLY value ahead of country or countrymen. The chickens will come home to roost..sooner or later Goldman and their minions in government, on K-Street will pay the price of betrayal of the nation-state called America, ethical capitalism, in fact the chickens are already coming home to roost..in China. A small Chinese company just refused to pay up $80million or some such to Goldman&#8217;s subsidiary in China..and the Chinese govt. is backing them up. Henry Paulson was known in most circles as China&#8217;s best representative in the US. You could add most politicians to that list from BOTH parties and their husbands, wives or close associates. American&#8217;s wages and salaries have been stagnant since 1979, from the time Volcker stated the desired policy of the powers that be..Americans became credit junkies cause that is HOW their standard of living, based on debt, rose at all. Goldman and JP Morgan, the central banks, AIG, Bank of America, Morgan Stanley, all the rest gave us casino economy and then bet against it and us. BUT the politicians who benefited&#8230;Obama received nearly a million dollars from Goldman employees, and since 1989 Christopher Dodd, chairman of the Senate Banking, received $43 million. Barney Frank, chairman of the House Financial Services Committee, got $7.8 million. The world and the US system changed decades ago, and not for the better. The powers that be that created the system didn&#8217;t give us free market capitalism, they gave us corporate state fascism as BIG govt. and BIG banks or commercial interests shacked up and screwed us. It will come crashing down, and that maybe why Goldman execs are advised to carry firearms and not gather in groups of 12 or more. Thing is those in the US congress and senate should be just as worried&#8230;they were in a position to stop the rape and pillage of the US economic and political system but a bunch of souless unethical sharks who thought they could get away with what is arguably the biggest destruction of the US system in our history.</p>
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		<title>By: How Goldman Sachs Made Tens Of Billions From The Economic Collapse Of America In Four Easy Steps</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-51</link>
		<dc:creator>How Goldman Sachs Made Tens Of Billions From The Economic Collapse Of America In Four Easy Steps</dc:creator>
		<pubDate>Sat, 02 Jan 2010 20:14:07 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-51</guid>
		<description>[...] Source: The Economic Collapse  [...]</description>
		<content:encoded><![CDATA[<p>[...] Source: The Economic Collapse  [...]</p>
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		<title>By: Marked</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-49</link>
		<dc:creator>Marked</dc:creator>
		<pubDate>Sat, 02 Jan 2010 19:26:47 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-49</guid>
		<description>So how will people avoid the mark and pay for goods and serrvices?</description>
		<content:encoded><![CDATA[<p>So how will people avoid the mark and pay for goods and serrvices?</p>
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		<title>By: WalterF</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-46</link>
		<dc:creator>WalterF</dc:creator>
		<pubDate>Sat, 02 Jan 2010 17:45:23 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-46</guid>
		<description>Inflation in the middle of a recession?  Why does the media say we are continuing to recover when they see oil prices go up i.e. $75.00 a barrel? When you see unemployment skyrocketing and prices going up, that not a good sign.  In the recession of 2001 oil was $25.00 a barrel.

http://www.youtube.com/watch?v=p1LuW5auXYI&amp;feature=related</description>
		<content:encoded><![CDATA[<p>Inflation in the middle of a recession?  Why does the media say we are continuing to recover when they see oil prices go up i.e. $75.00 a barrel? When you see unemployment skyrocketing and prices going up, that not a good sign.  In the recession of 2001 oil was $25.00 a barrel.</p>
<p><a href="http://www.youtube.com/watch?v=p1LuW5auXYI&amp;feature=related" rel="nofollow">http://www.youtube.com/watch?v=p1LuW5auXYI&amp;feature=related</a></p>
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		<title>By: Rose</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-44</link>
		<dc:creator>Rose</dc:creator>
		<pubDate>Sat, 02 Jan 2010 16:32:28 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-44</guid>
		<description>Will we ever quit blaming big business for making money. This is what business do make money if they found a loop hole in the law contact your elected officials and campaign to get the laws amended. Quit whining if you were making the money you would not be writing this garbage or reading it.</description>
		<content:encoded><![CDATA[<p>Will we ever quit blaming big business for making money. This is what business do make money if they found a loop hole in the law contact your elected officials and campaign to get the laws amended. Quit whining if you were making the money you would not be writing this garbage or reading it.</p>
]]></content:encoded>
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		<title>By: Marty</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-41</link>
		<dc:creator>Marty</dc:creator>
		<pubDate>Sat, 02 Jan 2010 12:45:07 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-41</guid>
		<description>Criminals who dress nicely and hold positions of authority reside both in the halls of Congress and Industry. Masquerading as honorable people these criminals steal, kill and destroy for power and profit. They rejoice in their profits now but in the end their rejoicing will be turned into mourning as The Judge of all rewards them all for all their filthy deeds.</description>
		<content:encoded><![CDATA[<p>Criminals who dress nicely and hold positions of authority reside both in the halls of Congress and Industry. Masquerading as honorable people these criminals steal, kill and destroy for power and profit. They rejoice in their profits now but in the end their rejoicing will be turned into mourning as The Judge of all rewards them all for all their filthy deeds.</p>
]]></content:encoded>
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		<title>By: No rest for bloggers - New Year's News Roundup &#124; The Lonely Conservative</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-37</link>
		<dc:creator>No rest for bloggers - New Year's News Roundup &#124; The Lonely Conservative</dc:creator>
		<pubDate>Sat, 02 Jan 2010 01:01:14 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-37</guid>
		<description>[...] actions of the statists. You can add to the list in the comment section. I think the way Goldman Sachs made billions should be on the list, as should the way Wall Street and the banks manage to keep turning a profit. [...]</description>
		<content:encoded><![CDATA[<p>[...] actions of the statists. You can add to the list in the comment section. I think the way Goldman Sachs made billions should be on the list, as should the way Wall Street and the banks manage to keep turning a profit. [...]</p>
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		<title>By: WalterF</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-36</link>
		<dc:creator>WalterF</dc:creator>
		<pubDate>Fri, 01 Jan 2010 23:40:04 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-36</guid>
		<description>Jake, Throwing Gold in the streets was a figure of speech, sorry for the confusion, I dont wish to impose religion on anyone but if your a believer then The Book of Relevations chapter 18 vs 17,18,19 would make sense to you. It speaks of the global economic collapse which is about happen. I believe it will happen by 2011.  There are just too many signs out there pointing to this. The math proves that were at a point of no recovery, something major news networks will never admit.  Wall Street will be shocked at the sudden destruction just like it happened over night 1929.

REV 18: 17,18,19
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off, 
18 And cried when they saw the smoke of her burning, saying, What city is like unto this great city! 
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas, that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.</description>
		<content:encoded><![CDATA[<p>Jake, Throwing Gold in the streets was a figure of speech, sorry for the confusion, I dont wish to impose religion on anyone but if your a believer then The Book of Relevations chapter 18 vs 17,18,19 would make sense to you. It speaks of the global economic collapse which is about happen. I believe it will happen by 2011.  There are just too many signs out there pointing to this. The math proves that were at a point of no recovery, something major news networks will never admit.  Wall Street will be shocked at the sudden destruction just like it happened over night 1929.</p>
<p>REV 18: 17,18,19<br />
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,<br />
18 And cried when they saw the smoke of her burning, saying, What city is like unto this great city!<br />
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas, that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.</p>
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		<title>By: Deborah</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-34</link>
		<dc:creator>Deborah</dc:creator>
		<pubDate>Fri, 01 Jan 2010 22:22:11 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-34</guid>
		<description>This is the part where I say,&quot;DAMN, I&#039;m glad they service my 401K. We were practically guranteed a couple of years ago, that we would not lose money on our 401k, and they would be successful. I guess they knew what they were talking about.</description>
		<content:encoded><![CDATA[<p>This is the part where I say,&#8221;DAMN, I&#8217;m glad they service my 401K. We were practically guranteed a couple of years ago, that we would not lose money on our 401k, and they would be successful. I guess they knew what they were talking about.</p>
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		<title>By: dogismyth</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-33</link>
		<dc:creator>dogismyth</dc:creator>
		<pubDate>Fri, 01 Jan 2010 22:22:05 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-33</guid>
		<description>hahaha....you forgot the one more powerful than Goldman...JP Morgan.  They are in the background for a reason.  The real perpetrator is always in the background.  All the primary dealers to the federal reserve are evil, corrupt and do not care one iota about the general public.  Someday someone will go ballistic on them, and many will applaud loudly or turn their backs on them.  They have de-evolved the human race through their exotic financial dealings, and their secret ties with the gov, and the backlash to the taxpayer.  It makes me sick that these people can get away with &quot;fixing&quot; things in their favor.  Do not do any business we these primary dealers.  THEY ARE BEHIND ALL THE CORRUPTION HERE AND ABROAD.  DO NOT USE THEIR BANKS, CREDIT CARDS OR HAVE ANY FINANCIAL DEALINGS.

YOU PEOPLE WANT TO STOP THEM, THEN TAKE AWAY THEIR FOOD...MONEY.  You can stop them if you want.  But the fact of the matter is that the more wealthy are the ones that have money in these organizations because they know these bankster gangsters will do anything to win in the capital markets....including criminal activities.  Americans are more complicit to these crimes than the actual criminal.  They silently condone this crap day after day.  Oh well, I have enjoyed my life.  Its up to the younger generation to get this under control...if they want to.  I could care less at this point.

List of the Primary Government Securities Dealers Reporting to the Government Securities Dealers Statistics Unit of the Federal Reserve Bank of New York

BNP Paribas Securities Corp.
Banc of America Securities LLC
Barclays Capital Inc.
Cantor Fitzgerald &amp; Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Securities America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs &amp; Co.
HSBC Securities (USA) Inc.
Jefferies &amp; Company, Inc.
J. P. Morgan Securities Inc.
Mizuho Securities USA Inc.
Morgan Stanley &amp; Co. Incorporated
Nomura Securities International, Inc.
RBC Capital Markets Corporation
RBS Securities Inc.
UBS Securities LLC.</description>
		<content:encoded><![CDATA[<p>hahaha&#8230;.you forgot the one more powerful than Goldman&#8230;JP Morgan.  They are in the background for a reason.  The real perpetrator is always in the background.  All the primary dealers to the federal reserve are evil, corrupt and do not care one iota about the general public.  Someday someone will go ballistic on them, and many will applaud loudly or turn their backs on them.  They have de-evolved the human race through their exotic financial dealings, and their secret ties with the gov, and the backlash to the taxpayer.  It makes me sick that these people can get away with &#8220;fixing&#8221; things in their favor.  Do not do any business we these primary dealers.  THEY ARE BEHIND ALL THE CORRUPTION HERE AND ABROAD.  DO NOT USE THEIR BANKS, CREDIT CARDS OR HAVE ANY FINANCIAL DEALINGS.</p>
<p>YOU PEOPLE WANT TO STOP THEM, THEN TAKE AWAY THEIR FOOD&#8230;MONEY.  You can stop them if you want.  But the fact of the matter is that the more wealthy are the ones that have money in these organizations because they know these bankster gangsters will do anything to win in the capital markets&#8230;.including criminal activities.  Americans are more complicit to these crimes than the actual criminal.  They silently condone this crap day after day.  Oh well, I have enjoyed my life.  Its up to the younger generation to get this under control&#8230;if they want to.  I could care less at this point.</p>
<p>List of the Primary Government Securities Dealers Reporting to the Government Securities Dealers Statistics Unit of the Federal Reserve Bank of New York</p>
<p>BNP Paribas Securities Corp.<br />
Banc of America Securities LLC<br />
Barclays Capital Inc.<br />
Cantor Fitzgerald &amp; Co.<br />
Citigroup Global Markets Inc.<br />
Credit Suisse Securities (USA) LLC<br />
Daiwa Securities America Inc.<br />
Deutsche Bank Securities Inc.<br />
Goldman, Sachs &amp; Co.<br />
HSBC Securities (USA) Inc.<br />
Jefferies &amp; Company, Inc.<br />
J. P. Morgan Securities Inc.<br />
Mizuho Securities USA Inc.<br />
Morgan Stanley &amp; Co. Incorporated<br />
Nomura Securities International, Inc.<br />
RBC Capital Markets Corporation<br />
RBS Securities Inc.<br />
UBS Securities LLC.</p>
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		<title>By: Carl Herman</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-31</link>
		<dc:creator>Carl Herman</dc:creator>
		<pubDate>Fri, 01 Jan 2010 19:38:01 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-31</guid>
		<description>This article is awesome. Who are you guys? I work with Ellen Brown, Stephen Zarlenga, Dennis Kucinich and others for political reform of banking. Our first best-bet is state-owned banks, and we&#039;re also ready for national monetary reform. Contact me if you&#039;d like to understand what we&#039;re up to and consider working in synergy with us.</description>
		<content:encoded><![CDATA[<p>This article is awesome. Who are you guys? I work with Ellen Brown, Stephen Zarlenga, Dennis Kucinich and others for political reform of banking. Our first best-bet is state-owned banks, and we&#8217;re also ready for national monetary reform. Contact me if you&#8217;d like to understand what we&#8217;re up to and consider working in synergy with us.</p>
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		<title>By: Michael Fogg</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-29</link>
		<dc:creator>Michael Fogg</dc:creator>
		<pubDate>Fri, 01 Jan 2010 19:01:17 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-29</guid>
		<description>They are going to create a single currency -- a global currency -- to replace the Yankee Dollar. Then they will have a central world bank to control the issuing of the new currenc. All the individual currencies will have a fixed exchanged rate with the new global currency and then gradually they will be phased out.
Next they will do away with paper and coins as money. The controllers of the world bank will make all transactions between banks in individual countrieres electronic. Even cheques will disappear. Then we will have a cashless society.
People will be able to by or sell electronically, like topping up a mobile phone with credit, or like paying bills from a mobile phone&#039;s credit.

It will bring about the universal acceptance of the electronic buying and selling. If you are a criminal, they will be able to freeze your criminal assets. If they don&#039;t like you discriminating against their laws they can lock you out of the world of buying and selling. They can have total control over you. They can build up a history of all your financial transactions.

In the Apocalypse it says, concerning the end times and the coming of the Antichrist; &quot;No one will be able to buy or sell unless he has the mark of the beast on the hand or on the forehead.&quot;</description>
		<content:encoded><![CDATA[<p>They are going to create a single currency &#8212; a global currency &#8212; to replace the Yankee Dollar. Then they will have a central world bank to control the issuing of the new currenc. All the individual currencies will have a fixed exchanged rate with the new global currency and then gradually they will be phased out.<br />
Next they will do away with paper and coins as money. The controllers of the world bank will make all transactions between banks in individual countrieres electronic. Even cheques will disappear. Then we will have a cashless society.<br />
People will be able to by or sell electronically, like topping up a mobile phone with credit, or like paying bills from a mobile phone&#8217;s credit.</p>
<p>It will bring about the universal acceptance of the electronic buying and selling. If you are a criminal, they will be able to freeze your criminal assets. If they don&#8217;t like you discriminating against their laws they can lock you out of the world of buying and selling. They can have total control over you. They can build up a history of all your financial transactions.</p>
<p>In the Apocalypse it says, concerning the end times and the coming of the Antichrist; &#8220;No one will be able to buy or sell unless he has the mark of the beast on the hand or on the forehead.&#8221;</p>
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		<title>By: Belle</title>
		<link>http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-28</link>
		<dc:creator>Belle</dc:creator>
		<pubDate>Fri, 01 Jan 2010 18:35:15 +0000</pubDate>
		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=41#comment-28</guid>
		<description>This is a very good summary of what was clearly a crime against us. Bankers committing fraud. Insurers committing fraud. Brokers committing fraud. The Fed, SEC and rest of the alphabet turning a blind eye. Television telling us that no one could have seen it coming, and excusing it all as the normal course of events.

Through it all, the Department of Justice, whether under Holder or Gonzales is conspicuously missing in action. We do indeed have a class above the law, and they have brought the equivalent of an economic 9-11 against us.</description>
		<content:encoded><![CDATA[<p>This is a very good summary of what was clearly a crime against us. Bankers committing fraud. Insurers committing fraud. Brokers committing fraud. The Fed, SEC and rest of the alphabet turning a blind eye. Television telling us that no one could have seen it coming, and excusing it all as the normal course of events.</p>
<p>Through it all, the Department of Justice, whether under Holder or Gonzales is conspicuously missing in action. We do indeed have a class above the law, and they have brought the equivalent of an economic 9-11 against us.</p>
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