NO ADVERTISING, GOVERNMENT OR CORPORATE FUNDING
DONATE TODAY


  November 14, 2011

Occupy Wall Street Declares Goldman Sachs Guilty


General Assembly holds mock trial and journalist Chris Hedges reads indictment accusing Goldman Sachs of financial crimes against humanity
Members don't see ads. If you are a member, and you're seeing this appeal, click here
   

Share to Facebook Share to Twitter


I appreciate immensely The Real News reports. You report news that is covered nowhere else. - Elizabeth Sheppard
Log in and tell us why you support TRNN


transcript

Occupy Wall Street Declares Goldman Sachs GuiltyVOICEOVER: Manhattan, New York. In November, people from Occupy Wall Street held a mock trial of Goldman Sachs, accusing it of financial crimes against the 99 percent. The journalist Chris Hedges read a compilation of the charges.

CHRIS HEDGES, AUTHOR AND ACTIVIST: Goldman Sachs, which received more subsidies and bailout-related funds than any other investment bank, because the Federal Reserve permitted it to become a bank holding company under its emergency situation, has used billions in taxpayer money to enrich itself and reward its top executives. It handed its senior employees a staggering $18 billion in 2009, $16 billion in 2010, and looks set to hand out $10 billion in megabonuses in 2011. This massive transference of wealth upwards by the Bush and Obama administrations, now estimated at a staggering thirteen to fourteen trillion dollars, went into the pockets of those who carried out fraud and criminal activity rather than the victims who lost their jobs (some of whom we'll hear today), their savings, and often their homes. Goldman Sachs' commodities index is the most heavily traded in the world. The company hoardes rice, wheat, corn, sugar, and livestock and jacks up commodity prices around the globe, so that poor families can no longer afford basic staples, and many literally starve. Goldman Sachs is able to carry out its malfeasance at home and in global markets because it has former officials filtered throughout the government and lavishly funds compliant politicians, including Barack Obama, who received $1 million from employees at Goldman Sachs in 2008 when he ran for president. These politicians in return permit Goldman Sachs to ignore security laws that under a functioning judiciary system would see the firm indicted for felony fraud, or, as in the case of Bill Clinton, these politicians pass laws such as the 2000 Commodity Futures Modernization Act, which effectively removed all oversight and outside control over the speculation in commodities, one of the major reasons food prices around the world have soared. In 2008 and 2010, prices for crops such as rice, wheat, and corn doubled or tripled, making life precarious for hundreds of millions of people. And it was all done so a few corporate oligarchs, the 1 percent, could amass personal fortunes in the tens of millions and often hundreds of millions of dollars.

VOICEOVER: After listening to more testimonies, the general assembly of Occupy Wall Street deliberated and declared Goldman Sachs guilty of financial crimes against humanity. A march was organized to deliver the verdict of this popular trial. Police arrested 16 people, including journalist Chris Hedges, among others, during the rally outside the headquarters in lower Manhattan. Reporting from New York, this is The Real News.

End of Transcript

DISCLAIMER: Please note that transcripts for The Real News Network are typed from a recording of the program. TRNN cannot guarantee their complete accuracy.



Comments

Our automatic spam filter blocks comments with multiple links and multiple users using the same IP address. Please make thoughtful comments with minimal links using only one user name. If you think your comment has been mistakenly removed please email us at contact@therealnews.com

latest stories

Baltimore Mayor's Veto of $15 Wage Protects Policy of Subsidizing Wealthy, Councilperson Says
The Truth Behind the War on Immigrants
Were Haitian Police Behind Assassination Attempt on Aristide?
New Provisions Eliminate Healthcare From GOP 'Wealthcare' Bill
Why Further Revelations on Trump's Russian Connections Might Fail to Bring Him Down
18 Million U.S. Citizens Exposed to Lead-Contaminated Water Systems
Russia vs. USA: Who is the Threat, Who is the Aggressor? (2/2)
Should Sanders Continue the Fight Outside the Democratic Party?
Fed Inflation Target Keeping Wages Low, People Out of Jobs
Is Trump Dangerous for Russia?
Was the Georgian Conflict Started to Elect John McCain President in 2008? Pt.1
Will the NDP Adopt Pro-BDS Platform?
Massive Cuts to EPA Threaten Communities Already Suffering From Pollution, Climate Change
Whistle Blower Teacher Says Charter Schools Draining Students, Resources from Public Education
Trump's Budget Targets Climate Change Spending Across All Federal Agencies
US Has Interfered in More Elections Than Any Other Nation
Maryland Democrats Push Back Against Gov. Hogan's Support for ACA Repeal
Russia vs. USA: Who is the Threat, Who is the Aggressor? (1/2)
Democrats Fail to Dig into Trump's Shady Financial Ties During Hearing
Why is the Capitalist West Fighting with Capitalist Russia?
Baltimore City Council Passes Historic $15 Minimum Wage
UN Report Finds Apartheid Exists Within Israel
Neil Gorsuch's Woeful Record on Civil Rights
Federal Judge Orders Civil Rights Lawsuit Against Pocomoke, State of MD to Move Forward
Hundreds Rally to Demand A Fix to Baltimore's School Budget Deficit
Trump Adds Another Goldman Sachs Alum to His Administration
Empire Files: Abby Martin Exposes Steve Bannon
Wealthiest U.S. Households Save Big Under GOP Health Care Bill
'They are Taking Everyone': Families March Against Deportations in Phoenix
Baltimore Poised to Pass $15 Min. Wage as Business Lobby Launches Nationwide Rollback Campaign

TheRealNewsNetwork.com, RealNewsNetwork.com, The Real News Network, Real News Network, The Real News, Real News, Real News For Real People, IWT are trademarks and service marks of Independent World Television inc. "The Real News" is the flagship show of IWT and The Real News Network.

All original content on this site is copyright of The Real News Network. Click here for more

Problems with this site? Please let us know

Managed Wordpress Hosting