Goldman Sachs: The Stepford Brokers

[Mike 03]

I feel guilty for what might have seemed like offering a defense for GS yesterday. I was just so disappointed by what the subcommittee hit them with, and their obsession with the evils of shorting, that I actually felt everyone looked bad, everyone lost. It was a sad fiasco.

But I want to at least admit that the first panel was eerie, to say the least. They obviously had been counseled by attorneys to waste as much time as humanly possible, to play dumb almost beyond belief, and to take no responsibility for the role of complicated financial instruments in the demise of our economy.

Please don't misconstrue my defense of shorting as a legitimate investment strategy as a defense of these sociopathic Goldman execs, and I regret that I made such a big deal about how poorly this hearing went.

My only point was that I personally felt everyone came out a loser at that hearing.

To reiterate, I love Carl Levin and Sen McCaskill, and especially their work on the war contractors and fantastic evisceration of Blackwater and Blackwater's surrogates.

[opihimoimoi]

1. The GS Boys looked like the shitheads they are...they made the GOP and GS appear at odds w Clarity

and Sanity

Even the GOP Senate had to cave today....stop the losses I guess

[chill_wind]

2. K & R.

I really appreciate Senators Levin & McCaskill, too.