Listen, you’ll get no arguments from me that, on the whole, capitalism has been a positive force. But the problem is it’s an amoral system when gone unchecked and it just continues to find new and inventive ways to make money until something like 2008 happens.
And today…even though they didn’t need to be…Goldman Sachs became the poster child for that excess.
No regret. No remorse. Just one clear message: greed is good.
See, what was clear from the hearings with Goldman Sachs today…they’re not a bank…they’re drug pushers, with the drug being risk, reward and potentially total financial annihilation. Take your pick. They’ll sell you anything…as long as you can pay.
And…it’s all legal…maybe. Because what the emails that Senators read reveal is a similar knowing negligence for some investors to what Enron did with energy prices and the Californian government.
But hey, don’t take my word for it…take a look at how they conducted themselves today…
Yes, the way Goldman talked about how they serve their clients today was unfortunate to say the least. They didn’t do themselves any favors and the repercussions will be felt for a long time to come.