Afterbrexit: Chief xenophobe Boris Johnson now Foreign Secretary; Goldman-Sachs hires Barroso


Boris Johnson led the Brexit campaign with a lot of dog-whistles about dirty foreign muck stealing our jobs and clogging up our NHS, before being stabbed in the back by Michael Gove and bowing out of politics, until, today, he was made Foreign Secretary by Theresa May, the UK's new Pry Minister. Read the rest

Goldman Sachs bribed Libyan officials with hookers, private jet rides, then lost all their money


In 2006, western leaders decided that Gaddafi's oil was more important than his human rights record and complicity in terrorism and lifted sanctions against Libya, creating a massive pool of cash for the country that it turned into a sovereign wealth fund whose business was aggressively courted by Goldman Sachs. Read the rest

Community college evicts daycare center to make room for Goldman Sachs


Rhode Island Governor Gina Raimondo -- a former venture capitalist who invested state funds with hedge funds during her tenure as state treasurer -- invited Goldman Sachs to set up a partnership with the Community College of Rhode Island, then kicked out the college's daycare center to make room for Goldman staffers to work. Read the rest

Goldman Sachs really only has to pay half of its settlement for world-destroying financial fraud

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The headline figure of a $5B settlement that Goldman will have to pay after admitting to the toxic-asset fraud that led to the global economic collapse is just window-dressing: in the fine print are exemptions and giveaways that could cut that number in half. Read the rest

Goldman Sachs will pay $5B for fraudulent sales of toxic debt, no one will go to jail


No one at Goldman Sachs will go to jail despite the company's world-destroying, multi-billion-dollar frauds that culminated in its unloading billions' worth of worthless mortgage-backed securities on its customers just before the crash. Read the rest

Oligopolistic America: anti-competitive, unequal, and deliberate

A brilliant, enraging op-ed in the Washington Post from analysts from the New America Foundation and the American Antitrust Institute shows how the Reagan-era policy of encouraging monopolistic corporate behavior has made America unequal and uncompetitive, creating a horror Gilded Age where the Congressional consensus is that laws cannot possibly put a check on bad corporate actors.

It's another look at the problems set out in Matt Taibbi's brilliant book The Divide, tracing the policies that created both the private prison industry and banks so big that even the most depraved criminality can't be punished lest the bank tremble and collapse on wider society.

Particularly galling and illuminating is a quote from a Goldman Sachs report that advises investors to seek out "oligopolistic market structure[s]" where there's "lower competitive intensity, greater stickiness and pricing power with customers due to reduced choice" as the ideal way to maximize your return on capital. Read the rest