Pam Martens - Wake Up Congress; Before the Next Collapse
March 20, 2012 In the last decade, Wall Street has evolved from predator to organized crime with a speed dial to Washington. Instead of Washington reforming Wall Street, it has seduced and corrupted Washington. It didn’t have to come to this.
Since at least 1989, incredibly talented, hardworking men and women have been leaving high paying positions at major Wall Street institutions and alerting the public in meticulously crafted, first-hand narratives released by venerable publishing houses that Wall Street wants to rip off its clients’ faces.
On Wednesday, March 14, Greg Smith – following in the proud lineage of Micheal Lewis, Frank Partnoy and Nomi Prins – simply bypassed the tedious route of galleys and nit-picking editors and went straight to the OpEd page of the New York Times with his resignation letter decrying Goldman Sachs for abusing its clients. “It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as ‘muppets,’ sometimes over internal e-mail,” Smith said. He called the current environment at Goldman “as toxic and destructive as I have ever seen it.”
Read More:
http://www.counterpunch.org/2012/03/19/goldman-sachs-trader-finds-a-new-occupy-tactic/print
