Tower of Babel.

by Justin

It’s cool, you know, because at the end of the day they’re really not that smart. Sure, the CEO gets paid $70 million and helms a labyrinthine behemoth of a corporation famed for recruiting the brightest stars in the financial world, but how could you expect him to understand the market? I mean, what reason does the public have for assuming that one of the only entities to profit from the recession did so by the grace of more than just chance?

This is blowing my mind. You plead ignorance? Blankfein played dumb as Senators challenge the ethical decisions of Goldman Sachs and argues that the company practiced exploitation and deliberately misled its clients. I don’t have the expertise (or anything close to it) to attack this monstrosity head on. In fact, the Senate Permanent Subcommittee on Investigations, for all its righteousness seems to be equally baffled by the Goldman defense of its actions. Jon Tester, Democrat from Montana, summed it up by saying, “It’s like we’re speaking a different language here.” Read the rest of this entry »