Friday, February 20, 2015

Ellen Brown — Swimming with the Sharks: Goldman Sachs, School Districts, and Capital Appreciation Bonds

The saga of the Vampire Squid continues.

Remember when Goldman Sachs – dubbed by Matt Taibbi the Vampire Squidsold derivatives to Greece so the government could conceal its debt, then bet against that debt, driving it up? It seems that the ubiquitous investment bank has also put the squeeze on California and its school districts. Not that Goldman was alone in this; but the unscrupulous practices of the bank once called the undisputed king of the municipal bond business epitomize the culture of greed that has ensnared students and future generations in unrepayable debt.…

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