"Goldman Sachs conspiracy tale rivets Chinese; Author says bank’s goal was to ‘kill China’" by Elaine Kurtenbach, Associated Press | August 26, 2010
SHANGHAI — Goldman Sachs & Co., reviled in the United States for its role in the financial crisis, is now getting hammered in the world’s number two economy with a sensationalist new book accusing the investment bank of trying to destroy China.
Well, they have been neck deep in every ugly financial meltdown in the
The “Goldman Sachs Conspiracy,’’ which has sold over 100,000 copies since it was released in June, reaching popular website Sina.com’'s top-10 list, follows another by author Li Delin, “Eliminate All Competitors — How Goldman Sachs Wins Over the World,’’ published last year.
Yes, readers, conspiracies do exist despite what the MSM tells you.
Li, a financial journalist, appears to have hit pay dirt among Chinese readers.
The nearly 300-page, highly dramatized account covers much of the same ground as a widely cited piece by Matt Taibbi last year in Rolling Stone magazine that portrayed the Wall Street institution as a “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.’’
Oh, is that why they stink?
Related: Goldman Sachs' Rigged Gambling Game
Or is that it?
Li’s book takes ample license in its attacks on Goldman Sachs. The company’s ultimate goal, he says in the first chapter, is to “kill China.’’
Like they killed the U.S.
“Like a fox chewing a bone, Goldman Sachs knows the rules of the game and when to go for your neck,’’ it says.
Goldman Sachs’ office in Beijing refused to comment.
The financial cataclysm of 2008 and ensuing global recession have resulted in a profusion of books dissecting the role of global investment banks.
Goldman was sharply criticized for its high executive pay after it accepted a $10 billion US government bailout during the financial crisis. It also received $13 billion from insurer American International Group after the government bailed that company out. The bank recently agreed to a record settlement with the Securities and Exchange Commission over civil fraud charges.
Related: Money Monday: Goldman Sachs' Gold Mine
In China, the company’s business appears to have weathered well the market chaos elsewhere. The investment bank was an underwriter in the recent record-breaking $22.1 billion initial public offering by the Agricultural Bank of China.
Why would you let them in, China?
See: China's Car Strike Concealing Coming Economic Collapse
Goldman also saw handsome gains from a $4.9 million investment in 2007 in a 12.5 percent stake in drug maker Shenzhen Hepalink.
Li, in an online chat, said the book was no exaggeration.
The conspiracy genre and dramatized accounts of scandals are popular in China.
When the MSM describes it that way you know there is truth to it.
China’s government exerts strong control over the news media and broadcasters, but the book publishing industry has a bit more leeway for commentary.
Yeah, THANK GAWD that doesn't happen HERE in AmeriKa!!
The Chinese-language book also accuses Goldman Sachs of involvement in the recent Dubai and Greek debt debacles and the wider European financial and fiscal crises.
Related: Goldman Sachs Screwed Greece
No you know who governments work for -- even in the face of such anger from their own people!
--more--"
Also see: The Galling Greed of Goldman Sachs
