If you’re looking for a place to plant some cash, Goldman Sachs might not be a wise investment. That probably doesn’t surprise many of you, seeing as how the firm is facing fraud lawsuits for its questionable mortgage-trading activities. But did you know that Goldman is also involved in some shady factory-farm deals in China? As the executive director of Brighter Green recently pointed out, Goldman paid $300 million for 10 intensive poultry farms in China in 2008.
If you listen closely, you can still hear the “ca-ching!”
While the number of vegetarians in the U.S. grows every year, meat consumption has quadrupled in China since 1980. Filthy U.S.-style factory farms are becoming increasingly common there, and while Goldman has outsourced its factory farms, it retains control over the prices of the meat it sells. Goldman clearly wants a portion of the cash cow. But I don’t guess that Goldman is concerned about investing in the future, considering that more factory farms means more death, pollution, and other environmental consequences.
I’m no high roller, but even if I were, I wouldn’t be casting my lot with Goldman Sachs. I prefer savings that can’t be put in the bank: animals’ lives and the environment. How about you?
Written by Heather Moore