Goldman Problems and John Crudele’s Warning
By Greg Hunter’s USAWatchdog.com
John Crudele is one of the good guys when it come to telling the truth and protecting your investments. The article below is nothing short of brilliant, concise and adds real clarity with what stinks about the economy. When I say stinks, I mean fishy. If you have money invested in the stock market, you should read this until the very end because Crudele offers a warning everyone should give serious thought to. I have been reading Crudele’s column in the New York Post for years, and he has a habit of speaking his mind and backing it up with fact! See his must read article below:
HOW GOLDMAN SACHS’ PROBLEMS ARE HURTING YOU
By John Crudele/ NY Post 8/27/09
AMERICANS should boycott the stock market. No, I’m not kidding. And this isn’t going to be one of those funny columns. In fact, I’m deadly serious that investors shouldn’t risk any more of their money until there are promises of a thorough investigation of Goldman Sachs.
Over the past few years I’ve looked into the much-too-cozy relationship between Goldman and Washington. I’ve suspected that this Wall Street firm has been acting, in essence, as an arm of the government. And I am also pretty sure that if Goldman and Washington have something secret going on, the investment firm isn’t doing it for altruistic reasons. There’s money to be made.
In 2007 I reported in this column that Treasury Secretary Hank Paulson let the cat out of the bag when he confessed on a cable TV show that it was “my job to talk regularly to market participants . . .” Paulson had been the chairman of Goldman right before taking the job as head of Treasury. So, if he felt it was his “job” to talk with people on Wall Street then who else would he speak with if not his old friends at Goldman? The head of the US Treasury would, of course, know lots of secrets. In the olden days, this would be called “inside information.”
And despite Paulson’s contention it would be entirely inappropriate for him to discuss sensitive matters with people who could profit from the information. It is, in fact, illegal. And the penalty could be jail time. More on the story…