Big Banks Quotes



Goldman Sachs, one of the largest worldwide financial corporation, not only spent millions on lobbyists to shape government law and regulation, but its ex-officials served on high government positions including Treasury Secretary. They also give large amounts to finance campaigns of Congressmen and other public officials who were then very sympathetic to Goldman Sachs’ welfare. There is no practical way a citizen voter can overcome that situation, especially by exercising the voting franchise.


What made the situation worse at the time that the same big banks who got government bailouts to prevent failure and received the 0.75 percent rate, turned around and lent the money to the students not only charging them 9 times what they paid for the money, but also getting a government guarantee that the loans would be repaid and/or government prohibition of students going bankrupt and discharging their debt like any other American in financial difficulty. So the banks made huge profits and yet took no risk—a strange notion in capitalism.