Goldman Sachs: ‘Trading With Advantages’ | The Agonist

This begs the critical question: Why is the government allowing Goldman
Sachs to function this way? It now has access to the Fed discount
window and lender of last resort facilities, it gets funding from the
Fed at close to zero percent, it is no longer subject to market runs on
its stock because the FDIC backs up its deposits, and supposedly it is
now visited routinely by Fed examiners who can see exactly what is
going on. Yet there is not a peep of objection from the Fed, the
Treasury, the White House, or even Congress about a soi-disant
investment bank now converted into a commercial bank, which openly
disdains any suggestion it should act like a commercial bank, which is
struggling in its traditional investment banking businesses, and which
is still allowed to make money hand over fist through outright
speculation and what we might call “trading with advantages.”