May 02, 2010

Goldman Sachs and the public opinion

Goldman Sachs offered two or three allegedly unsuspecting investors who should have known better the opportunity to bet on a risky financial product partly designed by the other side of the bet. Those investors lost $1 billion, which were later paid by British and German taxpayers, and three years later much of the public opinion portrays Goldman Sachs as the personification of evil.

Now governments around the world are about to force taxpayers to buy Greek government bonds for up to $160 billion. A third of this money will come through the International Monetary Fund.

At the same time the World Bank has committed $200 million to provide people in sub Saharan Africa with bed nets.

Thus, worldwide governments backed by the public opinion allocate $160 billion to protect the wages and pensions of 11 million Europeans and $0.2 billion to protect 25 million Africans from deadly malaria.

The public opinion does more evil than Goldman Sachs.

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