The article “The people vs.Goldman Sachs” is an article based around the controversial case regarding The Goldman Sachs Group,Inc; a leading global investment banking, securities and investment management firm. (“Goldman Sachs | At A Glance." Goldman Sachs. Web. 31 Oct. 2015). In summary, the article analyzes the criminal activity of the investment bank, focusing closely on how Goldman Sachs successfully defrauded their investors. Taibbi explains the way in which Goldman Sachs defrauded their investors by failing to disclose important information regarding a conflict of interest on mortgage investments it sold as the housing market failed, essentially pushing a product they knew would fail. (Taibbi, 2011). Ultimately, Goldman Sachs was sued by Sec;Goldman ultimately…show more content… Here Taibbi looks closely at the fact that Goldman is a dominating company with much greed that ultimately created an extremely unfortunate loophole in the system of Western democratic capitalism. (Taibbi, 2011). Taibbi discusses the five “bubbles” of history and how Goldman Sachs is involved within them, the “bubbles” being: The Great depression, Tech Stocks, The Housing Craze, a $4 a Gallon, and rigging the bailout. “Goldman Sachs is positioned to not only merely create financial bubbles, but to profit from them when they pop” Taibbi writes (Taibbi 2011).
In relation to our course, the articles “The people vs.Goldman Sachs” and “The Great American Bubble” both illustrate and prove that with great social power comes great benefits. Due to the high status and prominence of Goldman Sachs, the company and the executives involved got and continue to get away with corporate crimes that if anyone with lower power were to commit they would more likely than not be punished with greater consequences. Taibbi discussing in both articles how the law in not only America but in most parts of the world is subjective: “If the Justice Department fails to give the American people a chance to judge