Tuesday, June 30, 2009

"How Goldman Sachs Runs Washington", READ IT

Today, if my father had lived, he would have been 98 years old. Few of us will live to see our 98th birthday.

Last night I was working as a gallery attendant at the Contemporary Arts Center. The CAC is open until 9 pm on Monday nights, and is free to the public from 5 to 9. If you ever get to Cincinnati, you should visit the CAC, if for no other reason than to see the building. The building is a treasure, and my favorite gallery is the second floor. My job is to keep an eye on the guests, as the art work does not touch them.

I can not help but notice the number of people that come through that are seriously over weight. We have a health crisis in the United States, and I am not talking about health care insurance. Because there is so much fast food and because food is cheap, people are killing themselves by literally over eating. I do not believe we should stop fast food companies from advertising, but something needs to be done to counter the affect that fast food advertising is having on the health of our nation. I see young people carrying too much weight, and just about everyone knows that with obesity comes a number of health problems. Something needs to be done, as we are literally killing ourselves with food.

Yesterday, I wrote about an article in ROLLING STONE magazine's July 9 - 23, 2009 issue. There are three boys on the cover known as BOYS TO MEN, and on the left of the cover are these words, "THE BAILOUT - HOW GOLDMAN SACHS RUNS WASHINGTON." If you don't feel like spending $5.95 to read one very good article by Matt Taibbi, then go to your public library and read this article.

Change will not occur just because one person says we need change. Change in the way the investment business is run in the United States will only come when enough people become knowledgeable about how the investment business conducts itself. While I think there should be greater leadership from the 50 state pension funds when it comes to putting pressure on Wall Street and Washington about how the investment business is conducted, the individual citizen needs to get into this fight too. The trillions of dollars held in pension funds, mutual funds, endowments and foundations in the United States is what we are talking about. And, a small number of investment professionals have been taking extreme advantage of a whole country and their investable funds for far too long. The way business is done on Wall Street and Washington with regards to the investment industry must be changed. This country's very security as a nation depends on it. People have been made "marks" of a greedy few for far too long.


Stay tuned.


LceeL said...

as always, Fred. Well said. And true.

winslow said...

Here's an interesting story about "change".

About 7 years ago I read about a corporation that was literally being run into the ground. A large shareholder had tried for several years to get the board changed...to no avail. Finally, this shareholder was able to get a proposition on the proxy ballot that would change the make-up of the board of directors. It was voted "yes" by the majority of the shareholders.
I then read that it was up to the discretion of the board if they would accept this proposition or not. The board decided to disregard the vote of the shareholders....AND..this is legal.

No one in the position of regulatory authority appears to understand common sense.

bob said...

a friend recommended Matt Taibbi's article. Although 59 years old, this is the first issue of Rolling Stone I have ever purchased.

GREAT ARTICLE! Well worth the price of the issue (I could care less about the Jonas Brothers....).

Rolling Stone is to be commended for its integrity and great courage in publishing this article---these are very powerful and very dangerous people it has exposed.

moneythoughts said...


I am 66 and I could have written your comment myself.

Yes, on all counts. Now help spread the word about the article, and if you care to about my blog, MONEYTHOUGHTS.

This blog is one man's attempt to enlighten as many of the 300 million Americans as possible to what is going on with the Wall Street and Washington Alliance. As I have referred to it in the past as WALL STREET & WASHINGTON, Inc.

Until a critical mass of awareness is reached, about how the investment securities industry operates with the help of Congress to defraud the American people, NO CHANGE will take place.

This is everyone's fight!!! The phony issues of the left, right or center is the smoke screen to bury the truth. Americans have been financially raped at the hands of Wall Street with the blessings of Congress.

Let them prove me wrong.