{"id":184860,"date":"2012-01-02T18:33:00","date_gmt":"2012-01-02T23:33:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/01\/02\/matt-taibbi-is-right-2\/"},"modified":"2012-01-02T18:33:00","modified_gmt":"2012-01-02T23:33:00","slug":"matt-taibbi-is-right-2","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/01\/02\/matt-taibbi-is-right-2\/","title":{"rendered":"Matt Taibbi is Right"},"content":{"rendered":"

When the Vampire Squid recommends a buy, sell as fast as you can<\/a>:<\/p>\n

It seems Jim O’Neill, the head of Goldman’s Asset Management department, is predicting that the United States stock market may go up “15 to 20 percent.” O’Neill apparently believes Ben Bernanke and the Federal Reserve will resort to another round of money-printing, and finally green-light the long-awaited “Qe3,” or third round of “Quantitative Easing.”<\/p>\n

The QE programs involve the Fed printing hundreds of billions of dollars and pumping them into the marketplace, where they ostensibly stimulate the economy (although recent experience tells us that the money mostly ends up being swallowed by the financial services industry \u2013 but that’s another subject for another time). Anyway, Bernanke declined to go ahead with a third QE program in late 2011, but O’Neill apparently thinks we’ll get it in 2012. From Bloomberg<\/a>: <\/i><\/p>\n

“If QE2 doesn\u2019t work, then we\u2019ll get QE3,” said O\u2019Neill, who was named chairman of the money manager in September after working as the co-head of global economics research and chief currency economist at New York-based Goldman Sachs Group Inc.<\/a> since 1995. There\u2019s a “good chance” the S&P 500 will rise 15 percent to 20 percent in the next 12 months, he said.<\/p><\/blockquote>\n

O’Neill added that he thought a 20 percent bump would be “relatively straightforward” for the U.S. S&P.<\/p><\/blockquote>\n

They pumped also pumped up the BRICS, and then shorted them, and aggressively sold their customers European bank stocks<\/b> earlier this month.<\/p>\n

Goldman Sachs is really nothing more than a ferociously criminal enterprise. They earn commissioners by advising their customers, and then they cheat them.*<\/sup><\/p>\n

The only reason to do business with them is to capitalize on their exquisitely honed revolving-door government connections.<\/p>\n

If a prosecutor were to aggressively to pursue a RICO investigation against them, they would be toast, because the (to my mind dangerously low) standard of a, “pattern of racketeering activity<\/a>,” is not a high bar to clear.<\/p>\n

*<\/sup>Note to self. I need to get libel insurance.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

When the Vampire Squid recommends a buy, sell as fast as you can: It seems Jim O’Neill, the head of Goldman’s Asset Management department, is predicting that the United States stock market may go up “15 to 20 percent.” O’Neill apparently believes Ben Bernanke and the Federal Reserve will resort to another round of money-printing, …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004],"tags":[],"class_list":["post-184860","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184860"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=184860"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184860\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=184860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=184860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=184860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}