From 2005 to 2007 Goldman sachs underwrote and issued a vast amount of mortgages that had been backed by loans from people with sketchy credit rating. These actions undoubtedly helped lead to the recession leading to mass foreclosures and delinquencies which in turn lost investors billions of dollars. The big wig personalities which cause mass poverty are simply paying off the government every time there caught red handed with very few arrests from this incident ever getting to see the light of day. Goldman Sachs agreed to a list of facts while paying 5.1 billion dollars to settle a lawsuit related to its handling of the mortgage-crisis. This is the fifth bank to settle multi-billion dollars lawsuits with the Department of justice. Some examples are 13 billion with J.P Morgan,16.6 billion with the bank of America, 7 billion from citigroup and 3.2 billion from Morgan Stanley.
Elected government officials have never been the only ones leading this country. Its always been the people with money and greed who have written the story from the days of slavery to the gold rush to big business and banking, these are the people that make the power moves behind the scenes pushing for laws that solely benefit the rich while leaving the rest of us their crumbs. Over the past weeks mass government corruption and tax evasion as become more and more prevalent to the common man’s eye but what is really scary are all the things we don’t see and the degree to which these crimes go unpunished.
http://www.dailyfinance.com/on/Wealth-Inequality-in-America-viral-video-Politizane/
To read more about the corruption of big money in America see the link below:
http://fortune.com/2016/04/11/goldman-sachs-doj-settlement/
To find out what the Government values as its mission through the Department of Commerce click the link below:
Jchavez92 • May 19, 2016 at 1:37 pm
The money gap is insane I can’t lie, but then again it is how it is suppose to be. Also I think the U.S doesn’t pay all its debt off all at once because other countries must be waiting to attack it after they get their money. But if the U.S owes them money that will be the only motive for other countries to hold back on their attack.