90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Goldman Sachs & Company
Goldman Sachs CEO and Chairman Lloyd C. Blankfein, left, and JPMorgan CEO James Dimon testify before the House Financial Services Committee in February. (AP)

Goldman Sachs CEO and Chairman Lloyd C. Blankfein, left, and JPMorgan CEO James Dimon testify before the House Financial Services Committee in February. (AP)

The big banks of Wall Street almost took down the American economy. They came very, very close. Millions of Americans are still living every day with the consequences.

But last week, the banks — Goldman Sachs and JP Morgan Chase in the lead — announced record rebounds in profit. Giant pre-crash-scale bonuses are slated to follow.

For a public that just opened its treasury and took on many billions in debt to save the banks, this is hard to swallow.

This hour, On Point: Goldman Sachs critic Matt Taibbi of Rolling Stone, Goldman consultant Charles Ellis, and the battle over the banks.

You can join the conversation. Tell us what you think — here on this page, on Twitter, and on Facebook.

Guests:

Matt Taibbi, contributing editor at Rolling Stone magazine. His article about Goldman Sachs, “The Great American Bubble Machine” (its subtitle: “From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression — and they’re about to do it again”), appeared in Rolling Stone’s July 9-23 issue.

Charles Ellis, founder and now senior adviser of Greenwich Associates, an international strategy consulting firm he founded in 1972. His book, “The Partnership: The Making of Goldman Sachs” came out last October. He has been a consultant to Goldman Sachs for more than 30 years.

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
Oct 24, 2014
Ottawa police officers, with Parliament Hill in the background, guard the area around the National War Memorial in downtown Ottawa on Thursday. (Reuters/Landov)

Gunfire in Canada’s capital. Billionaire millions hit the midterms. Huge airbag recall. Ben Bradlee is dead. Our weekly news roundtable goes behind the headlines.

Oct 24, 2014
Andrew (Miles Teller) and his often demanding conductor, Terrence (J.K. Simmons) in a scene from the new film, "Whiplash." (Courtesy Sony Pictures Classics)

The new movie “Whiplash”. The thin line between obsession and abuse on the road to greatness. In music, the arts…sports.

RECENT
SHOWS
Oct 23, 2014
A screenshot from the interactive game, "Depression Quest," the game at the root of the ongoing #GamerGate controversy. (Courtesy  "Depression Quest")

#GamerGate. Sexism, misogyny and rough stuff in a video game world culture clash.

 
Oct 23, 2014
Specialist Ronnie Howard, center, calls out prices as he works at his post on the floor of the New York Stock Exchange Thursday, Oct. 16, 2014. Beyond the turmoil shaking financial markets, the U.S. economy remains sturdier than many seem to fear. (AP)

The global economic wobble. Europe weakness. China fears. Wild markets. We’ll lay out the global economy now.

On Point Blog
On Point Blog
The Explicast, Episode Two: Why Is Election Day On A Tuesday?
Friday, Oct 24, 2014

The Explicast is back for another round. This time, we’re looking at Election Day, and why we all keep voting on a random Tuesday in early November.

More »
Comment
 
Our Week In The Web: October 24, 2014
Friday, Oct 24, 2014

On comments, comment sections, and ROY G BIV.

More »
Comment
 
Introducing The Explicast: A New Podcast From On Point Radio
Friday, Oct 17, 2014

Confused about the news? Don’t worry: so are we sometimes! Introducing a new On Point Radio podcast: The Explicast. You can find Episode One right here.

More »
3 Comments