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The Justice Dept. Should Break Up Goldman Sachs

Posted by libhom Wednesday, November 11, 2009

I found this fabulous video on Spocko's Brain, the blog that has been challenging rightist hate radio with their own words for years. This time, he is pointing out a real villain people should be angry at, instead of scapegoating minority groups. That villain is Goldman Sachs.

I hadn't heard of Max Keiser before this, but his analysis is dead on. It's funny listening to the shill for the banksters parrot deceptive talking points instead of providing any kind of actual analysis, his or anyone else's.

Now that GS has driven Bear Stearns, its biggest competitior, out of business by misusing its power over the Dept. of Treasury and the Federal Reserve, GS has reached the stage where it is a dangerous monopoly under our nation's antitrust law. The Justice Dept. is legally obligated to take these banksters to court in order to break up this monstrosity for once and for all.

People forget all of the reasons why antitrust laws were originally passed. Our school history books usually focus only on the important aspects of protecting consumers from having only one or a few options and the harm to businesses and their employees when companies use unfair tactics to drive competitors out of business.

Yet, there was another motive behind the Trust Busters, one which is just as valid today. They saw that a small number of super rich people and their companies were accumulating enormous power and using that power to corrupt the government and society as a whole. Breaking up monopoly businesses was correctly seen as an important means to protect liberty in this country. Libertarians may pretend that government intervention in the economy is this huge threat to liberty, but actual experience in this country has shown us that corporations and the rich are far greater threats to liberty than the government. Even when government does deprive Americans of our liberties, it is almost always the result of corporate and plutocratic control of politicians.

1 Responses to The Justice Dept. Should Break Up Goldman Sachs

  1. Mike Says:
  2. I have some free time these days. Maybe I'll start a Max Keiser Fan Club. :-)



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