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How Wall Street Creates Socialists

Posted on Apr 28, 2010

By E.J. Dionne

Maybe the next time someone calls Barack Obama a socialist, the president shouldn’t issue a denial. He might instead urge his accuser to read the hearing transcript of this week’s congressional testimony from the Goldman Sachs guys in their beautiful suits.

Capitalism has not taken a hit like this since Mr. Potter made his appearance as the evil banker in “It’s a Wonderful Life.” No leftist polemicist could come up with as damning a description of contemporary capitalism as the contents of an e-mail that Goldman’s Fabrice “Fabulous Fab” Tourre sent to his girlfriend.

“Well,” he wrote, “what if we created a ‘thing’, which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price?”

Perhaps Fab once read the Karl Marx who wrote: “The more abstract money is, the

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Added: Apr-29-2010 Occurred On: Apr-28-2010
By: gregory_peckory
In:
News
Tags: wall street, socialists, goldman-sachs, obama
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  • Great writing , spot on .

    Posted Apr-29-2010 By 

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  • Look at all the dumbazz amerikan, your trying to explain something their controlled brains can't understand. Keep trying little buddy some day you will break free the capitalist chains that keep your country men/women slaves too that dollar.

    Posted Apr-29-2010 By 

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    • No one is fleeing my country through shark-infested waters on rubber rafts.
      Also, dollars don't have slaves, dollars don't care who spends them.
      You must have dollars confused with your murdering, racist dictator.
      It's weird, you are the only person on the internet I know isn't black, since Cuba is one of the most racist regimes on Earth and the number of blacks with a computer could probably be counted on one hand.
      Calling other people slaves doesn't make you less of one.
      Now go make more Che t More..

      Posted Apr-29-2010 By 

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  • No, the free market is the bestest most efficient system there is. We need less regulation so that Wall Street can screw us more efficiently.

    Posted Apr-29-2010 By 

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  • What exactly are you refering to when you say "Wall Street"?

    Posted Apr-29-2010 By 

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  • I'll agree in the respect that Wall Street (and any successful individual or organization existing in Capitalism) turns some people into Socialists. It's called work vs. entitlement.

    You see, the successful ones work for the dollar. The unsuccessful ones feel entitled to a dollar. Our government allows it to happen, they distribute the dollar. Taken from the wealthy and given to the poor. It's Robin Hood syndrome.

    It's one thing to be greedy and it's another to be envious. But if you're en More..

    Posted May-6-2010 By 

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  • Gregory ,you are one dumb socialist.As if you cared what happened at all.I bet you dont own a bicycle.

    Posted Apr-29-2010 By 

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