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Goldman Sachs Is Being Used as a Whipping Boy

Today, I was reading a post by Jeremy Seigel about Goldman Sachs, and most of his viewpoints reflect most of my own (see Crucifying Goldman Sachs, Start of The Witch Hunts).  I have to note that I don’t always agree with the famous author (who wrote “Stocks for the Long Run“), but on this topic, I mostly agree with Dr. Seigel.  Please I encourage you to read Dr. Seigel’s article to get the lowdown and a very logical and realistic explanation of events.

I have a feeling that as the SEC and US government digs deeper, they are going to realize that among the banking bunch, Goldman is one of the good guys!  I guess they couldn’t attack a company that had greater involvement that caused the issue because they are still in a fragile state?  So I guess the logic is attack one of the few companies that made the correct moves…

I think it’s funny, Government is focused on punitive actions instead of preventative actions.  Not to mention the continual job drain that is occurring.  Why don’t they focus on the problems with Americans continually losing jobs to offshore?  We already lost a huge chuck of our manufacturing business overseas…  Isn’t that a great example of losing jobs to cheaper foreign labor?  Why let the service industry go overseas too?

I know these last few post at haven’t been totally personal finance, but if we don’t have jobs and companies to supply jobs…  Well then, we really don’t need to worry about money, because nobody will have money…


3 Responses to Goldman Sachs Is Being Used as a Whipping Boy

  1. All our government is capable of is short-term reactions to events. Politicians only care about getting re-elected,so they have to do what they think people will want to see. Lets punish! Why waste time being strategic?? Its wayyy too hard to get people to agree on any long-term strategies. Plus, the next people in office with get rid of it anyway.

    I am getting very frustrated with the state of our country. Stock market, oil spills, banking, people running away from their mortgages, etc. I need a vacation. Oops, I have no money and the locale I was planning on going to has a nice sheen of oil all over it.

    I like your topics Money Reasons!

  2. @Everyday Tips
    Good summarization of some of the problems with our country today!

    Unfortunately, I don’t see it getting better any time soon… Then again, life seems to constantly surprise me, perhaps it will do so again 🙂

    Thanks for the great comments!!!