By Matt Taibbi
Goldman Sachs has played a crucial role in creating every market bubble since the 1920s and has profited from not only the bubbles, but from the crash that followed as well, says a new expose in Rolling Stone magazine.
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Taibbi writes that Goldman Sachs has traditionally been a late arrival to market bubbles, getting in once others have started the trend, but, once in, the company quickly ramps up the bubble, predicts its bursting, and then hedges its bets so as to make money from the bubble crash.