By Padmini Arhant
All the reports on Goldman Sachs from various credible sources confirm the fact that,
There is more to it than meets the eye.
SEC investigation must go underneath the surface.
For Goldman Sachs – it’s analogous to “make a mountain out of molehill.”
When in fact, it’s an erupting volcano that has already claimed many lives and threatening more in the present.
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Padmini Arhant
By Padmini Arhant
The Securities and Exchange Commission filed lawsuit against Goldman Sachs on the toxic derivatives camouflaged with the internationally renowned investment firm, authenticating the risky mortgage securities sold to trusting investors in the domestic and global financial market.
Goldman Sachs is engaged in Investment Banking, Trading and Principal Investments, and Asset Management and Securities Services.
Needless to state that sub-prime mortgage is synonymous to the ‘speed boat’ designed for a fatal crash due to the deliberate sabotage. Sure enough, it had a negative impact on the financial and housing market that contributed to a precipitous economic decline worldwide.
The savvy designers protected their own investment with ‘insurance’ on the ‘abyss’ through yet another global conglomerate ‘AIG,’ technically partners in the ingenious profit oriented craft.
Why?
Because, the insurance companies grill the ‘regular folks’ when applying for any insurance to minimize risk exposure.
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Padmini Arhant
By Padmini Arhant
Today, the financial crisis inquiry commission summoned the financial sector executives to investigate the activities that primarily contributed to the financial market’s downward spiraling and led the economy to the brink of collapse. The inquiry is a step in the right direction to convey a strong message that no one is above the law and democracy cannot be undermined.
Although, the executives are perceptive in self-defense and evading responsibility for the financial meltdown, the fact of the matter is, these financial moguls capitalized on the economic vulnerabilities during the Bush administration. It’s generated from the deregulations and substantial prime rate reduction alluring average citizens with a political slogan that linked patriotism to home ownership.
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Padmini Arhant
By Padmini Arhant
When the Bush administration officially recognized the economic recession in late December 2007, the malignant cancer in the financial sector was widespread - originating from gross mismanagement, underhand dealings, some in breach of lenient SEC regulations… a scenario analogous to the health abuse by overindulging individuals submitting to a potentially terminal illness.
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Padmini Arhant
By Padmini Arhant
The ravenous economy has absorbed about $3.7 trillion dollars via bailouts and stimulus plans, (please refer to individual stimulus package topics for breakdown) yet the nation’s jobless rate rising like a tidal wave rather than settling along the shores. Several arguments mounting regarding the precarious job situation across the nation with some fifteen states like California, Michigan, Indiana, Ohio and others experiencing double digit in job losses accumulated over a period of time.
Not surprisingly, criticisms with an ominous prediction such as a possible return of the ‘Great Depression’ from various political and economic factions pouring against the current administration’s level of action and apparent inaction in averting the precipitous decline of the job market...
Please check out the related topics Economic Bailouts on an Unprecedented Scale, Bush Bailout Packages and Obama Bailout Packages with more on the way.
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Padmini Arhant
