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Goldman Sachs

Chile Shifts Left To Rewrite Pinochet-era Constitution

And today we are going to talk about Chile’s elections. This May there were municipal elections and constituent elections, to write a new constitution, because today Chile still has a Pinochet-era constitution, which was written in the time of the military dictatorship, of Augusto Pinochet.

Divestment Fever Spreads As ‘Eco Radicals At Goldman Sachs’ Downgrade Exxon Stock To ‘Sell’ Status

"The best reason to divest fossil fuel stock is that you'd like to help preserve a livable planet. Another reason is so that you won't lose your money." Three days after CNBC host Jim Cramer pronounced fossil fuel investments as being "in the death knell phase," Goldman Sachs on Monday downgraded its stock assessment for ExxonMobil, advising investors to sell their shares of the oil and gas giant.

Sears Crash Shows Capitalism Is Morally Bankrupt

By Matt Stannard for One of my closest friends in town recently lost his job managing a Sears automobile department, when the store was closed for financial reasons. My friend was surprised to be laid off because he says he’d been told the store was doing well, and his auto shop customers were happy, giving the department complimentary reviews and keeping the staff busy. He was doing everything right and so, apparently, were his fellow workers. But the success of individual Sears stores was irrelevant. In a pretty amazing body of work, Business Insider’s Hailey Peterson has documented the slow death of Sears at the hands of CEO Eddie Lampert.

Goldman Sachs In Government Pushes Profits Of Goldman Sachs

By Marcus Stanley for Inequality - Goldman Sachs has been a conspicuous presence at the scene of one disaster after another in the past half century. The bank is a leader in a Wall Street business model that relies on market manipulation and unsustainable financial bubbles to enrich a few insiders, but that produces disastrous consequences for the rest of us. We are witnessing what may be a new Golden Age for Goldman Sachs. After running a campaign in which he lambasted the “corrupt” ties between Wall Street and Washington, President Trump has handed the job of shaping economic policy over to Wall Street insiders generally, and to alumni of Goldman Sachs in particular. These appointments add up to a level of inside influence that is unusual even by Goldman’s historic standards. And future picks could produce even more Goldman influence. In choosing Gary Cohn as National Economic Council Director and Steve Mnuchin as Treasury Secretary, along with Jay Clayton at the Securities and Exchange Commission, Trump has turned to Wall Street veterans with deep knowledge of the financial crisis—knowledge gained as champions of the dangerous practices that helped cause it. In areas ranging from financial regulations, to taxes, to infrastructure, to trade, this Goldman-heavy Administration is promoting policies that would boost Goldman Sachs’s profits, in many ways, at the expense of taxpayers and the broader public. Goldman’s stock price has already soared.

Government By Goldman

By Gary Rivlin and Michael Hudson for The Intercept. Steve Bannon was in the room the day Donald Trump first fell for Gary Cohn. So were Reince Priebus, Jared Kushner, and Trump’s pick for secretary of Treasury, Steve Mnuchin. It was the end of November, three weeks after Trump’s improbable victory, and Cohn, then still the president of Goldman Sachs, was at Trump Tower presumably at the invitation of Kushner, with whom he was friendly. Cohn was there to offer his views about jobs and the economy. But, like the man he was there to meet, he was at heart a salesman.

New York Protesters Camp Out At Goldman Sachs To Oppose Trump

By Staff of Reuters - Dozens of protesters gathered outside of Goldman Sachs Group Inc headquarters on Tuesday to rally against President-elect Donald Trump's picking several former executives of the Wall Street bank for top jobs in his administration. Some of the 50 or so protesters wore swamp-monster masks in reference to Trump's pledge to "drain the swamp" that he said Washington has become and get rid of special interests. About 20 of them brought sleeping bags, intending to camp outside 200 West Street until Trump's inauguration on Friday. Goldman Sachs security guards sent employees and guests to entrances on the north side of the building on the rainy evening as protesters unrolled green sleeping bags on the southwest corner.

Vampire Squid Goldman Sachs Gets Away With $5 Billion ‘Non-Punishment’

By Deirdre Fulton for Common Dreams - Goldman Sachs—once described as "great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money"—has agreed to pay $5.1 billion to settle a U.S. probe into allegations that it misled mortgage bond investors during the financial crisis, the U.S. Justice Department (DOJ) said Monday. The penalty was swiftly denounced as a "non-punishment, non-accountability ritual that will do nothing to stop the Wall Street crime spree."

Denmark Outraged Over Sale Of Energy Co. To Goldman Sachs

Economists have suggested that the Danish state, with profit in mind, could have well lent DONG Energy the money it needed to invest and pay off certain loans, without selling the company outright to a multinational bank. They also argued that if Goldman Sachs was willing to invest in DONG Energy, it must be worth more than many people expect – and therefore the Danish state should itself invest more rather than sell it off. They have also openly criticized Danish officials for being out of their league when dealing with Goldman Sachs. The Danish habit of debating and weighing decisions “peacefully” does not match up, they say, with the cynical, calculating speculation of Wall Street, which is why the deal likely will not be in Denmark's economic interest in the long run.
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