Sunday, May 9, 2010

Being Goldman Sachs

It's Mother's Day and I really wanted to keep the love flowing, but I am just outraged listening to Henry Paulson testify before Congress on C-Span as if he's a bumbling idiot. He isn't. Before becoming the Treasury Secretary under President Bush for four years, he ran Goldman Sachs for eight years with some $642 billion in stock according to Forbes. It's also outrageous listening to Congress chase that illusive tail. Of course, there is probably a bit of theater going on there too.

Matt Taibbi needs to be asking the questions on behalf of the people. After he brilliantly eviscerated Goldman in a piece for Rolling Stone, Goldman wrote that it was a "hysterical compilation of conspiracy theories." Taibbi shot back with more brilliance: "The first thing you need to know is that Goldman Sachs is everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood into anything that smells like money."

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