Art of Evasion

Tuesday 4/27/10 was the day the crew at Goldman Sachs went before a Senate committee hearing to get sworn in and cussed out.



Holy Sh*t, They said "sh*tty" 13 times on C-SPAN!



Art of Deception

"Investment banking has become to productive enterprise in this country what mud wrestling is to the performing arts."
-- American humorist Mark Russell on Reagan era corporate raiders.

The times and culprits have changed, but the principle holds true today... Senator Byron Dorgan (D-ND) quoted Russell in respect to derivatives, the side bets enabled by the Gramm-Leach-Bliley Act.

In the late 90's, Dorgan was a lead voice against the bill (it passed anyway) which removed protective barriers between commercial bank lenders & investment bank gamblers... Essentially allowing opaque hedge funds to set up shop in-house to gamble with the bankrolls of Citibank, Bank of America, and other major banks, dragging them down in interconnected fraud-fueled groupthink.

From a Las Vegas perspective, investment bankers don't run a casino. Their derivative business is more of a bookie joint... Taking a lucrative cut on matching up bettors who take opposite positions on the same wager. And, to Las Vegas, investment bankers are mud wrestling match promoters.

Calling Wall Street casinos deeply offended Senator John Ensign (R-NV) from Vegas, whose family fortune, and ex-mistress hush money, comes from his casino executive dad.



Hey, Senators! Somebody should keep an eye on that shit.

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