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Trust Buster

(7,299 posts)

14. Seems to fit the Goldman Sachs mold

Mon Mar 17, 2014, 10:22 AM

Mar 2014

Why would millionaires at Goldman Sachs so blatantly destroy their own integrity by creating mortgage backed securities that they designed to fail, sell them to their own institutional clients, then take their own "house money" and purchase credit default swaps from AIG betting that those same securities they sold their clients would fail ? I think Keynes was right. Once you reach a certain level of wealth, motivation switches from security to a power psychosis play.

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Keynes, on how society will eventually view excessive wealth acquisition as a mental illness. [View all] reformist2 Mar 2014 OP

Excellent description of the hoarding class:) grahamhgreen Mar 2014 #1

It is sort of hoarding, coupled with competition though. cui bono Mar 2014 #7

And THAT is an excellent name for them, grahamhgreen! calimary Mar 2014 #33

Wealth extractors...I want to see the meme of "job creators" die until they actually create some!!! Moostache Mar 2014 #36

Good stuff. Opportunistic infections they are. calimary Mar 2014 #49

Maybe they used to be job creators, but no more. And they never created jobs to help others. reformist2 Mar 2014 #58

Good point, they have no intrinsic value... Moostache Mar 2014 #61

Never heard it said better. Bravo! IrishAyes Mar 2014 #75

One does wonder frazzled Mar 2014 #2

cart=>horse mopinko Mar 2014 #3

Thank you for this explanation. Do you think that money-lover was there all along, Sarah Ibarruri Mar 2014 #4

he was there all along mopinko Mar 2014 #10

Sounds like self-esteem=money to him. Very sad. nt Sarah Ibarruri Mar 2014 #21

more like mopinko Mar 2014 #23

There's one more thing (this is my opinion here though)... Sarah Ibarruri Mar 2014 #25

very true. mopinko Mar 2014 #30

I like that - fear is poison. Y es, it is. nt Sarah Ibarruri Mar 2014 #38

Excellent observation marions ghost Mar 2014 #41

Someone I heard call the way we are with one another, "like crabs in a bucket" nt Sarah Ibarruri Mar 2014 #42

Thats how it feels to me marions ghost Mar 2014 #44

I agree. The system of life sets one person against the next, all hiding behind a facade of Sarah Ibarruri Mar 2014 #54

Right marions ghost Mar 2014 #56

I didn't read the WSJ article you attached, cilla4progress Mar 2014 #51

The way I see it marions ghost Mar 2014 #57

I agree wholeheartedly.. cilla4progress Mar 2014 #65

I can surely relate.... llmart Mar 2014 #72

brother from another mother. mopinko Mar 2014 #73

I can relate. My ex once looked me straight in the face and wondered aloud, unblinking, IrishAyes Mar 2014 #77

Conflict as a way of feeling "close" cprise Mar 2014 #81

That's the nicest way to put it. IrishAyes Mar 2014 #84

You're married to Joe Biden??? cui bono Mar 2014 #5

it would be better. at least joe is honest. mopinko Mar 2014 #13

I think this is far more likely in most cases. It's what the person brings to the table. n/t jtuck004 Mar 2014 #70

Keynes talks about this later in that essay, how the rich often don't even enjoy their riches! reformist2 Mar 2014 #6

There was this heiress who inherited $1 million in the 1920s fasttense Mar 2014 #12

Wasn't that Heddi Greene? JNelson6563 Mar 2014 #45

I couldn't remember her name fasttense Mar 2014 #85

Thank you for your op. This is one of the few on DU worth noting and discussing. L0oniX Mar 2014 #18

Hear, hear cilla4progress Mar 2014 #52

And this is why they believe they must own the future, ours, theirs, everything. n/t freshwest Mar 2014 #59

I was informed by someone who is very rich that it becomes a matter of power. L0oniX Mar 2014 #17

But even that is illusory - no single billionaire really controls much in this world. reformist2 Mar 2014 #24

It's all about using $ to measure treasured anatomy. The more $, the bigger.... y'know. IrishAyes Mar 2014 #78

Perhaps JK Rowling (for example) enjoys writing books? Nye Bevan Mar 2014 #28

That doesn't explain why ... frazzled Mar 2014 #32

Why give money away when you can make it make more? marions ghost Mar 2014 #37

I heard Rowling say in an interview once that she remained in the country of her birth IrishAyes Mar 2014 #79

JK Rowling is an example of why we need to pay our unemployed workers. They are valuable assets. grahamhgreen Mar 2014 #50

They aren't celebrated because they enjoy what they do. nyquil_man Mar 2014 #68

When all a person has is a hammer, everything looks like a nail. IrishAyes Mar 2014 #76

But someone has to be the first trillionaire. It's very important. valerief Mar 2014 #8

Really powerful hueymahl Mar 2014 #9

You're welcome. I was just reading about technological job loss, and this essay came up. reformist2 Mar 2014 #26

identity issue greymattermom Mar 2014 #11

Seems to fit the Goldman Sachs mold Trust Buster Mar 2014 #14

They are sociopaths. They do this without reguard for the human lives oppressed and destroyed. L0oniX Mar 2014 #15

Absolutely rickyhall Mar 2014 #39

Absolutely locked up. n/t PowerToThePeople Mar 2014 #86

The documentary "I Am" Brainstormy Mar 2014 #16

Thanks for the doc tip. n/t cui bono Mar 2014 #20

"Mine, mine, mine, all mine!!" reformist2 Mar 2014 #29

+1 jsr Mar 2014 #19

Who knew Pope Francis read Keynes!!!! Grins Mar 2014 #22

Excellent Post! Dirty Socialist Mar 2014 #31

I think it is just like any other hoarder Epiphany4z Mar 2014 #27

I love the discussion Shankapotomus Mar 2014 #34

Those like Keynes who wrote about the future from the era of the Great Depression merely looked jwirr Mar 2014 #35

I also believe it's a sickness that goes far back in our history mountain grammy Mar 2014 #40

When is enough enough? Iwillnevergiveup Mar 2014 #43

Someone in my family has the disease marions ghost Mar 2014 #46

All is vanity! reformist2 Mar 2014 #48

kr ... nt MindMover Mar 2014 #47

So, we think it will truly lead to revolution? cilla4progress Mar 2014 #53

The past 20-30 years has changed the American people's view of the very rich. reformist2 Mar 2014 #55

Oligarchs are still worshipped in flyover country where I retired. Stockholm Syndrome - IrishAyes Mar 2014 #80

Love it. blackspade Mar 2014 #60

If a woman has too many cats, she is a hoarder with a mental illness. Initech Mar 2014 #62

They can pay hundreds of people to call them "job creators," but they can't make people believe it. reformist2 Mar 2014 #63

What makes these uber rich so greedy? illachick Mar 2014 #64

This sentence is the best! WhiteTara Mar 2014 #66

Excellent post Trust Buster Mar 2014 #88

Hoarding takes a lot of different forms KrazyinKS Mar 2014 #67

Guess which economist I'll be quoting in my next letter to the editor of our regional weekly. IrishAyes Mar 2014 #69

Don't forget: Money = Power Martin Eden Mar 2014 #71

I think it is about control - TBF Mar 2014 #74

Thanks for Posting this Article! mckara Mar 2014 #82

Maybe this news story is the start of it: Live and Learn Mar 2014 #83

It's the 80 year cycle Trust Buster Mar 2014 #87