June 21st, 2009

U.S. debt is good for Goldman Sachs

Posted in  Government 
Author: Tom Giovanetti || Location: Lewisville, Texas, USA

Notice the gem in the last paragraph of this article from the U.K. Guardian, which otherwise is about the huge bonuses Goldman Sachs is getting ready to pay out to its partners because of a "record year."

Last week, the firm predicted that President Barack Obama's government could issue $3.25tn of debt before September, almost four times last year's sum. Goldman, a prime broker of US government bonds, is expected to make hundreds of millions of dollars in profits from selling and dealing in the bonds.

That's right kids--the more the U.S. government goes into debt, the better it is for Goldman Sachs.

And who supplies most of our Treasury Secretaries? Who had the most influence over the bailout bills?

This is not a disinterested firm, folks. Don't worry about the Carlyle Group. Worry about Goldman Sachs.