Goldman's Sick Strategy on Two Fronts: Not Just Swine Flu Vaccine But a Cynical Low-Income Housing Ploy

swine-flu-pigs300.jpg

Quick roundup in the WSJ Deal Journal by Michael Corkery about Goldman Sachs's great week:

Lusting after cheapo Fannie Mae housing tax credits so it can offset its taxes and perform its required community-reinvestment duties without creating new affordable housing.

Scoring swine flu vaccine at a higher rate that Memorial Sloan-fucking-Kettering Cancer Center, for Christ's sake. And getting the vaccine while kids around the nation are told there's no vaccine to be had.

Yes, Goldman Sachs and Sloan-Kettering each got 200 doses of the vaccine, but Goldman made out much better: The Wall Street firm had asked for 5,400, and the hospital had asked for 27,400.

Citigroup made out even better than Goldman, getting 1,200 doses, more than half it requested.

Meanwhile, Barack Obama's Justice Department is pursuing that Galleon inside-trading case for all it's worth. So far, it just seems like a distraction from its real obligation to prosecute the culprits (and there are some) of last year's global financial meltdown.

As the WSJ's Corkery notes:

Former federal prosecutor Robert Mintz says the zeal with which NY prosecutors and the FBI are pursuing the insider trading case is motivated by public angst about the financial crisis.

But then Corkery has to go and spoil his point with a laughably obvious quote and then add his own lame coda:

"People don't trust Wall Street," Mintz, who is now a white collar defense lawyer, told Deal Journal.

Weeks like this one aren't exactly helping bridge the Main Street-Wall Street divide.

Luckily, the New York Times came to the full rescue of Wall Street yesterday, when the story was blazing hot, by dutifully devoting a story to the companies' defense spin of the vaccine fuss and slapping the least offensive (to the companies) lede graf on it:

New York City health officials have distributed small amounts of the swine flu vaccine to some major New York companies, including Wall Street banks like Goldman Sachs and Citigroup, even as shortages continue.