from truthdig:
Beware of Vampire Squids and Their Stadium Schemes Posted on Apr 21, 2011
By David Sirota
When it comes to media voyeurism and the economic insights it can provide, the ads in Vanity Fair rival Charlie Rose’s television program as the best peep show of all. Between rip-and-sniff Dolce & Gabbana pages and come-hither Gucci models, readers get to see not what the kings are selling the lowly serfs, but what the royal family is telling itself.
This is why I read Vanity Fair—its ads provide a valuable glimpse into the palace. May’s edition is no exception, thanks to Goldman Sachs—aka the investment bank at the center of Wall Street’s 2008 meltdown.
On page 123 of the glossy mag, this very same bank presents itself as the savior of one of those Middle-American cities whose averageness (and baseball bats) makes it synonymous with good ol’ fashioned Americana: Louisville, Ky.
As Goldman’s ad tells it, Louisville’s major problem was its desperate need for a new arena. That’s when the bank swooped in with a “financing strategy” to build the stadium, which then supposedly led to “a vibrant downtown scene, where new businesses are opening, existing businesses are expanding and local restaurants are hiring more employees.” .............(more)
The complete piece is at:
http://www.truthdig.com/report/item/beware_of_vampire_squids_and_their_stadium_schemes_20110421/
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