The Wall Street Conspiracy
A Financial False-Flag Operation?
One of the oddities about the bailout was who got it and who didn’t. The corner of Broad and Wall is ground zero for some of the most merciless, competitive people on the planet. Think of them like lions in a nature series. We’ve all watched those scenes of fully grown beasts trying to rip each other’s heads off. Usually, it’s about who controls the water hole. Now imagine that these homicidal monsters are really pissed off—and you have an idea of what life on The Street is like.
In this kill-or-be-killed world, loyalty is everything. When the meltdown was at its worst, and President Bush was on TV telling America the sky was falling, we the people acquiesced to bailing out the big guys on Wall Street. In other words, we pumped water into the water hole. And behind the scenes, Hank Paulson was working his magic.
Goldman had several major competitors in the business. Multibillion-dollar firms like Lehman Brothers and Bear Sterns were just like those lions—fighting to the death over territory and resources. But the biggest, baddest cat of them all was Goldman Sachs. So when the crisis came down, and all the Wall Street companies were begging for handouts at the public trough, only one was allowed to eat. Yep, Goldman Sachs.
In a famous midnight decision, Paulson decided to let Lehman go bankrupt. The next day, thousands of employees were given two hours to grab their personal possessions and get out of the building. Bear Stearns was forced into a shotgun marriage—really a complete takeover—by JPMorgan. But not Goldman. The firm got its TARP money, survived and emerged stronger than ever. Today, it’s the only big cat left in the jungle. Which brings up the obvious, but very disturbing question: did Goldman help create the crisis in order to decimate its competitors? [Watch Conspiracy Theory with Jesse Ventura on truTV]
Some commentators have gone as far as calling it a “financial false flag” operation. In other words, Goldman needed a disaster to weaken its competitors so it could drive them out of business. And it used its sweetheart partner—the U.S. government—to help.
A conspiracy? You be the judge.
Once the financial carnage was over, duly chastened politicians and regulators trudged to Capitol Hill for congressional hearings. The show trials accomplished their purpose. Heartfelt mea culpas were intoned, and grandstanding members of congress verbally spanked the miscreants as the hometown TV cameras rolled. But when the lights were turned off, it was back to business as usual.
In December 2009, at the end of a disastrous year for many Americans, the board of Goldman Sachs deliberated in its swanky inner sanctum. On the agenda was the weighty matter of dividing the year-end spoils. Chief Executive Lloyd Blankfein (who earned $67 million in 2007) decided there should be a jolly holiday for the firm’s oh-so-valuable execs. Goldman declared bonuses and payments of $16.7 billion…. yes, billion with a “b.” The good times roll on at the intersection of Broad and Wall Streets.