[This is another Guest Post from Patrice Ayme which appeared on his Blog on the 28th April. It has been slightly modified by me. Ed]

Celebrating Goldman Sachs, while acknowledging that it is far from being all their fault.
Point One: We are living in a state of law. Supposedly.
Point Two: That State is democracy, the rule of the demos, the people. It is not the rule of the bankers. Supposedly.
Point Three: Political leaders have recently given PRIVATE unelected individuals, the bankers, the means and the right to create money, the money everybody uses, through debt, ex nihilo, starting from PUBLIC funds (Called, somewhat misleadingly, the fractional reserve banking system.)
Point Three contradicts the union of Point One and Point Two. Power is supposed to be exerted by the people, but money is power. Big bankers create money at will, with the complicity of the political leadership. So they create power at will.
Thus, the present system incites (big) MONEY CREATING BANKERS TO BECOME GANGSTERS, and then OUTLAWS.
It is as simple as that!
Thus one needs to get rid of the private fractional reserve PUBLICLY funded money creating system. The situation has been rendered worse in the last decade by the blossoming of synthetic derivatives which are out-of-this-world bets which could not possibly be paid back.
Synthetic derivatives of derivatives transformed a 300 billion dollars loss in real mortgages into a potential exposure of 24,000 billion dollars, thanks to the leverage of the derivatives squared.
Then political leaders, accomplices with the bankers, offered to pay the 24,000 billion dollars, on behalf of taxpayers, leaving the economy in tatters.
Not all is lost: Goldman Sachs got its entire 2008 profit, 13 billion dollars, from taxpayers, through AIG, thanks to US politicians, and the USA loves a winner. Love and dove, there are still many a feather to pluck.
By Patrice Ayme
P.S. Synthetic derivatives are, mathematically and philosophically, a generalization of the license of the privately managed, publicly funded, fractional reserve system, thus proving further, if need be, how erroneous the latter can be.
P.P.S. The fractional reserve system ought to be kept, to provide the capital needed, simply it ought not to be anymore the province of a small private oligarchy gaming it.