Realistically speaking, of course people should take responsibility for their actions. But I honestly fail to comprehend how someone could really believe that financial institutions should be shielded from the responsibility of their bad decisions. It's just plain crazy. It's really no point in discussing it.
Here's the type of thing that the untouchable Goldman Sachs engaged in with respect to Greece. Dang!!! Someone really wants to put forward that they bear no responsibility for this type of activity. No wonder the world is in such a mess.
Wall St. Helped to Mask Debt Fueling Europe’s CrisisWall St. Helped to Mask Debt Fueling Europe’s Crisis
Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts.
As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.
Even as the crisis was nearing the flashpoint, banks were searching for ways to help Greece forestall the day of reckoning. In early November — three months before Athens became the epicenter of global financial anxiety — a team from Goldman Sachs arrived in the ancient city with a very modern proposition for a government struggling to pay its bills, according to two people who were briefed on the meeting.
The bankers, led by Goldman’s president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece’s health care system far into the future, much as when strapped homeowners take out second mortgages to pay off their credit cards.
It had worked before. In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions, people familiar with the transaction said. That deal, hidden from public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means.
This old worn out partisan rhetoric is crap. People need to start discussing things as they are.