Goldman’s Coup: Why Banks Are Benefiting and Workers Aren't

“They frankly own the place,” Dick Durbin said back in April referring to the power that banks hold over policy decisions in Washington. If they own the place, presumably they can make the rules. But as Goldman Sachs brings in record profits and prepares to dole out handsome bonuses to employees and executives, many are lauding the company's willingness to take risks. So is Goldman Sachs, dubbed by many 'Government Sachs,' a risk taker or a coup maker? And what will it take to confront what may be the most powerful lobby in American history?


Matt Taibbi, contributing editor at Rolling Stone and author of The Great Derangement: A Terrifying True Story of War, Politics, and Religionir?t=lauraflanders-20&l=as2&o=1&a=038552062X, Robert Johnson, former chief economist of the Senate Banking Committee, and Michael Lux, co-director of Progressive Strategies and author of The Progressive Revolution: How the Best in America Came to Beir?t=lauraflanders-20&l=as2&o=1&a=0470395117 on why the banks are benefiting and the American worker isn't. You can read Taibbi's recent article in Rolling Stone on how Goldman Sachs blew up the economy here.

#story_page_post_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.