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Archive for March 3rd, 2014

People below demonstrate against US multinational investment banking firm Goldman Sachs buying into the National Danish electricity supplier DONG in front of the Danish Parliament on January 29, 2014. (AFP Photo / Jeppe Bjoern Vejloe)

“Today, banks like Morgan Stanley, JPMorgan Chase and Goldman Sachs own oil tankers, run airports and control huge quantities of coal, natural gas, heating oil, electric power and precious metals. They likewise can now be found exerting direct control over the supply of a whole galaxy of raw materials crucial to world industry and to society in general, including everything from food products to metals like zinc, copper, tin, nickel and, most infamously thanks to a recent high-profile scandal, aluminum. And they’re doing it not just here but abroad as well: In Denmark, thousands took to the streets in protest in recent weeks, vampire-squid banners in hand, when news came out that Goldman Sachs was about to buy a 19 percent stake in Dong Energy, a national electric provider. The furor inspired mass resignations of ministers from the government’s ruling coalition, as the Danish public wondered how an American investment bank could possibly hold so much influence over the state energy grid.”

Here’s how corrupt the process is; Goldman Sachs may not have been the highest bidder for the electricity company. How can that be?

And here’s something to ponder; then President Bill Clinton signed this legislation to redistribute income from the 99 to the 1 percent. If Hilliary Clinton becomes president, expect her to do more of the same. Of course, President Mitt Romney would be at least as bad.

Click the link below to see how investment banks were enabled to become owners and manipulators of industry.

The Vampire Squid Strikes Again–Rolling Stone Magazine

Danish Prime Minister Helle Thorning-Schmidt addresses the media after the Socialist People’s Party quit the government over the controversial sale of a stake in state-controlled energy group DONG to Goldman Sachs. (AFP Photo / Keld Navntoft)

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