Surviving Capitalism (Not) : “toxic and destructive” Goldman Sachs and the Obama administration

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Thursday, March 15, 2012

“toxic and destructive” Goldman Sachs and the Obama administration

Click here to access article by Edward Fullbrook from Real-World Economics Review Blog.

This is an excerpt from an article that I included as a link within yesterday's article by Fullbrook. Because it highlights the incestuous relationship between a key financial institution and the US government, I am re-posting this section. This government relationship with key financial institutions is, of course, not limited to Goldman Sachs, but to all the major sectors of Wall Street and banking institutions. It simply illustrates what anyone familiar with a class view of society recognizes as the functioning of a ruling class in contemporary capitalist societies.