At first glance, Hillary Clinton’s speeches to Goldman Sachs, which she refused to show us but WikiLeaks claims to have now produced the texts of, reveal less blatant hypocrisy or abuse than do the texts of various emails also recently revealed. But take a closer look.
Anyone who has paid even minimal attention to the global economic and financial crises gripping the world since 2007 has heard the name Goldman Sachs.
One of the largest banks in the United States, Goldman Sachs was central to the process of creating the housing bubble that popped in 2007-8, which led to the largest economic crisis since the Great Depression. As Matt Taibbi famously documented in Rolling Stone, Goldman has been involved in “every major market manipulation since the Great Depression,” profiting along the way as “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”
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April 27, 2010
Investment Banks and the Financial Crisis, Directors
Current and former directors from Goldman Sachs testified about investment and trading activities of Goldman Sachs and other investment banks involving residential mortgage based securities and related products. Committee members asked several pointed questions about business practices at the firm, often referring to a large stack of electronic mail and other documents detailing communications about possible market manipulation and representations about products made to consumers. This hearing was the fourth in a series of subcommittee hearings examining some of the causes and consequences of the recent financial crisis.