Putin-Xi summit: BRICS, Goldman Sachs, Jim O'Neill, etc

As chairman of Goldman Sachs Asset Management, Jim O'Neill is responsible for some $800 billion in assets ..

..  At the beginning of February, he made the surprise announcement that he would leave the bank by the end of this year .. 

BRICS 'Have Exceeded all Expectations' ~By Erich Follath

.. In an interview with SPIEGEL ONLINE, he discusses the banking industry and why he still sees a bright future for China and Russia .. O'Neill, 55, became well-known in 2001 for a paper in which he was the first to coin the acronomyn BRIC, for the developing nations of Brazil, Russia, India and China, which he predicted would be the great economic powers of the future ... con't >>

http://www.spiegel.de/international/business/departing-goldman-sachs-exec-still-sees-bright-future-for-bric-nations-a-890194.html

"... When Putin stressed that he does not see the BRICS as a "geopolitical competitor" to the West, it was the clincher; the official denial that confirms it's true. Durban may be solidifying just the beginning of such a competition. It goes without saying that Western elites - even mired in stagnation and bankruptcy - won't let any of their privileges go without a fierce fight ....

BRICS GO OVER THE WALL, 

Xi, Putin

http://www.atimes.com/atimes/World/WOR-01-260313.html 


Pepe Escobar  (Copyright 2013 Asia Times Online (Holdings) Ltd. All rights reserved. Please contact us about sales, syndication and republishing.)

"... If it's a regulated business, where then are the regulators?

.. One of them's the same cabal which sets the rates:

the Federal Reserve .. The Fed has jurisdiction over all bank holding companies, including Citigroup, Morgan Chase and Wells Fargo .. Each owns a subprime lender.  But the Fed .. has had its eye on bigger, more ideological quarry.

To get their employees, the CitiFinancials and HFCs of the world don't say "come and be predatory." Citi for example says, come get on the train before it leaves the station. You will work for Sandy Weill. He has always doubled money; why should it now be different?

The hardest-chargers are given a dream: one day they too can sell stocks.

It's a form of religion: heaven re-branded as economic freedom.

From loan shark to Wall Street: that is the trajectory.

That and a journey to the East: the 21st century, it is said, will belong to Asia. And there the predatory lenders will be. They salivate to enter China, with its one billion pawns, its mud-brick homes to lend against.

http://theartof12.blogspot.com/2013/02/predatory-bender.html