Monday, April 19, 2010

How to Be a Hypocrite

It's easy. Go to bed with Goldman Sachs. Then get your regulators to slap 'em with a fraud investigation.
We're not saying they don't do fraudulent things. We're just pointing out that they're no more fraudulent than any of the other big banks that are in bed with the democrats in congress and in the white house. To use 'em and abuse 'em like this has got to be cold-blooded even by Chicago standards.
Some observations: Doubtless any serious enquiry into the regulatory fraud that brought us the global financial crises will lead straight to Chris Dodd's doorstep. Any chance such an enquiry will ever happen? We think not, at least not as long as The Obama Gang is in power, and therefore we conclude that this Goldman headline binge is just a sham. It's propagandistic buzz. We're sure there must be a term-of-art for it but we don't know what it is, besides "slime."
And another thing: can John Paulson be the next Michael Milken? Surely AG Holder's law-school buddies are drooling over the prospect of picking his carcass. Paging Eliot Spitzer!


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