Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

> Question: How does Goldman Sachs still get away with this stuff?

Answer: Because there's a history of Goldman Sachs executives going from Wall Street to Washington DC (Government) taking up top positions - ex: Paulson as Treasury Secretary - so they can create and change Laws to suit their business.

In short, it's like a Thief who gets himself appointed as the Judge for his own Trial.

> As the man who presided over the biggest market meltdown in recent U.S. history, he has become a symbol of two worlds colliding—he's the Goldman Sachs CEO who came to Washington and then had to bail out his old friends on Wall Street.

Source: https://www.theatlantic.com/business/archive/2014/02/hank-pa...

Related: [2009] Why Goldman Always Wins => https://www.theatlantic.com/magazine/archive/2009/10/why-gol...



Piketty calls them supermamagers. This is interesting https://lareviewofbooks.org/article/the-supermanagerial-reic...


A bit verbose, but very insightful.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: