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Wednesday, May 19, 2010

Goldman Sachs investing in factory farms: exporting environmental catastrophe to China http://www.huffingtonpost.com/mia-macdonald/investment-bankers-with-w_b_563373.html

That's right: Goldman Sachs is in the business of factory farming. Perhaps I shouldn't have been surprised: in the late 18th century, the area around Wall Street housed slaughterhouses and tanneries. The word capitalism itself is rooted in the trade of (live)stock measured by head (Latin: capita) of cattle. Nonetheless, the parallels between the killings made on Wall Street then and now are not only eerie, but consequential.

Just as the securitized debt deals Goldman was hawking may be, in Warren Buffett's words, "financial weapons of mass destruction," putting the whole economic system at risk of collapse, factory farming carries a parallel risk -- of environmental destruction and exploitation of resources, prospects for food security, and animals, all on a mass scale.

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