13 signs the Big Bank Conspiracy is a moral threat
Commentary: Goldman’s ‘soul sick’ pathology is spreading
By Paul B. Farrell
Aug. 10, 2013
SAN LUIS OBISPO, Calif. (MarketWatch) — The symptoms of a deadly Big Bank moral pathology are everywhere. But they can’t see. And it’s getting worse. Does America see?
Do you? Yes, Big Banks are morally blind, do not care what taxpayers, investors and politicians think … Huffington Post says eight agencies are investigating J.P. Morgan for fraud, while CEO Jamie Dimon yawns … billionaires are saving three times what they did in 2007, they see the crash coming … Bill Gross says the 30-year bull in our $32 trillion bond market is over, “you’re going to lose money investing” … Economist Robert Gordon warns that America’s GDP growth will be less than 1% by 2100.
But Big Banks have short-term brains. They only see the one rule of capitalism: Make profits. What about public interest? Not part of a corporation agenda. Not with CEOs like Dimon and Goldman Sachs’s Lloyd Blankfein, traders, executives and vice presidents who expect huge bonuses. Short-term profits always trump long-term public interests. Always.
Has Goldman’s moral pathology infected a Big Banks Conspiracy?