Of course it’s no surprise to discover that Goldman Sachs is linked to the Soros Brexit sabotage operation.
For one of those at the dinner was Stephen Peel, a former Goldman Sachs investment banker and backer of the Best for Britain group.
Alumni of the finance giant that’s valued at £68billion have muscled their way into positions of power across the world and try to manipulate government policies.
For example, under chairman Lloyd Blankfein, it was a shameless cheerleader for the Remain campaign during the 2016 referendum, donating £500,000.
Under chairman Lloyd Blankfein, it was a shameless cheerleader for the Remain campaign during the 2016 referendum, donating £500,000.
Blankfein made a dig at Brexit in November, tweeting that Britain should hold a second referendum, and, in a jibe at London, he’s said Frankfurt should be a post-Brexit financial centre.
Don’t forget Goldman Sachs was deeply implicated in the debt crisis that ravaged Greece and destabilised the eurozone.
In 2001, when Greece was intent on joining the eurozone, Goldman used sleight of hand to disguise the scale of the country’s national debt. It allowed Greece to meet the criteria for signing up to the euro – a disastrous decision that helped cripple its economy and drive millions out of work.
Despite this, Goldman bosses soon afterwards got £79million in bonuses, which were branded an outrage.
In 2009, as the euro crisis loomed, the bank again assisted the Greek government in easing its debt problems. It was a cynical case of playing both sides against the middle. It’s believed Goldman made millions out of this business.
Meanwhile in the US, Goldman had used ruthlessly amoral techniques to sell so-called sub-prime mortgages to the poor, many of whom were unable to repay the loans. This created a debt crisis that spread from the housing market to the banking system and triggered a recession.
Then, having found itself with mountains of toxic mortgage loans, the bank made even more money for itself by selling these debts on to unsuspecting investors.
Goldman bosses denied allegations that investors had been deliberately misled, but when held to account by US authorities, the bank had to pay a £400million fine.
Alumni of the finance giant that’s valued at £68billion have muscled their way into positions of power across the world and try to manipulate government policies
Elsewhere, the bank has been busy speculating against the currencies and debt of weaker economies to make huge profits, oblivious to the social dislocation and human suffering this activity causes.
The US-based bank, which employs 6,000 in London, often behaves as if it has a divine right to interfere in the politics of countries where it operates. It shows no contrition for past mistakes despite having been censured on occasion by financial regulators around the world. The bank’s arrogance is buoyed by the fact its alumni hold many of the top global finance jobs.
They include Mark Carney (Bank of England governor), Mario Draghi (head of the European Central Bank), Bill Dudley (president of the New York Federal Reserve Bank) and Steve Mnuchin (US Treasury Secretary). They personify the smug elite who paraded their self-importance at the World Economic Forum in Davos last month.
The bank has a history of putting its interests above everyone else, and falling foul of rules. In 2010, it was fined £350million by the US Securities and Exchange Commission for mortgage-related chicanery. Two years ago, Goldman agreed a £3.65billion settlement with US authorities after behaviour described as ‘serious misconduct’ when it sold pools of loans having made ‘false and misleading representations’ to prospective investors.
No wonder a critic once rebuked the Wall St giant for the immoral way it ‘relentlessly jams’ itself ‘into anything that smells like money’.