Tuesday, April 27, 2010

Show trial?

More like a kangaroo court, if you ask me.

Sen. Carl Levin accused a Goldman Sachs executive Tuesday of knowingly "trying to sell a sh---y deal" to investors, as the Senate's hearing into the Wall Street giant's investment practices kicked off with all the trappings of a show trial.


Demonstrating an utter (and perhaps, willful) ignorance of just how the trading profession actually works, Goldman execs were blamed for everything from the Kennedy assassination to tulipomania being terrible people who were perfectly willing to make a buck off of a government-mandated melt-down being capitalists being evil greedsters making money ...well, they were blamed for something involving feces and a lot of spittle. The word "unethical" was thrown around a lot, too.

Goldman isn't my favorite bunch, and I'm leery of just how how many of their people work in the Feral Government at this point in time. I'm terribly curious about their role in the collapse of Lehman Brothers as well. I have to wonder if they haven't walked up to the line, dropped trou and mooned us multiple times.

But this was as shameful a spectacle as I've ever seen come out of a Senate hearing. If I were a US Senator, I'm not sure I'd want to tell my friends.

I also note that the overall stock market has taken note of this episode today. down 150 on the Dow Industrials as I write. Take that, Wall Street! Along with numerous small investors, 401(k) plans and pension funds all over the USA. More than a few billion in wealth has just evaporated to fuel Sen. Levin's ego and the Duplicitous Party of the Donkey's lust for absolute control.

No comments: