Saw a video that someone posted recently of a doom and gloom trader on BBC that was talking about potential collapse and said "Goldman rules the world"...This is a rather bold statement to make on international television and seems to be a reoccurring theme i'm seeing more and more and as you all know "where there's smoke..."
Long story short, I spoke with a guy a while back who was formerly VP of acquisition (now retired) for a very notable company involved in the 2008 crisis. To be fair, I won't give his name or the company he worked for, but he also was making some bold statements.
Almost verbatim what he said was that a loose cartel within JPM/Morgan Stanley, GS, and Citi run this country more than most people can possibly imagine. He also said that not long before the collapse he was signing off on $3 billion or so of mortgage bonds (I can't remember exactly) and that he was suppose to approve of their validity from the ratings agencies I guess. It had something to do with Freddie. He expressed his concern about the quality of the bonds, and a call came down from main office in NYC that said sign it or else. He told them he didn't want to sign b/c he thought Freddie wasn't properly valuing the bonds. The response he said was "don't worry, Goldman owns Freddie." Then, not long after, he turned in his notice and retired that day. He also said he may be called in to testify in congressional court eventually. I wasn't sure what he meant by that loose cartel statement and I really wanted him to elaborate but I didn't want to pry.
How could this be? I understand that BBs have great lobbyists and make tons of money which equals serious influence but is there any hard facts to back up the claim that they run they show? I have always been somewhat fascinated by the illusion of democracy and that our gov't independently makes all the decisions (ya right). I think the U.S. is trending towards an oligarchy or at least a distorted form of half democracy half oligarchy. I don't even know anymore, though.
I really don't know enough at this point to say if the BBs really do have that much control or if it's just a conspiracy. However, it wouldn't surprise me.
I'm curious about what you guys think? Ever heard anything similar to this?
The banks are the government
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