Saturday, October 17, 2009

Planning for the collapse of Goldman Sachs

Goldman Sachs is prospering using the strategies that gave us the Great Recession.

I suppose they would say that they know how to use these innovations safely. Their rivals were simply too dull, too weak, to use such powerful tools.

If Goldman is lucky their leaders will rule like kings. If they are unlucky their leaders will rule like barons -- and we'll be picking up the pieces.

If we still can.

If I were running the Treasury I'd be setting up a plan to respond to the collapse of Goldman Sachs.

1 comment:

Curmudgeon said...

Goldman has enmeshed itself so deeply within the Treasury that it is guaranteed as much government money as it wants, whenever it wants. The only conceivable way for Goldman to collapse would be if the Treasury went bankrupt first.