It can be hard work trying to make sense of financial goings-on. For instance, can anyone tell me the difference between an investment bank and a bank holding company?
That's why it helps to have people like Glen Greenwald around.
This article neatly summarizes what happened over the last nine months that allowed Goldman Sachs to go from supposed devastation to record profits.
Short version: all the architects of Washington policy are former Goldman employees.
Oh, and the main difference between an investment bank and a bank holding company is that when you're the latter you can borrow trillions of dollars from the Federal Reserve and nobody has to know about it.
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