Russell Roberts on NPR: “As Goldman Gloats, What Does It Matter For Us?”
Russell is too much of a gentleman to point out the large number of Goldman cronies who moved into state offices in Washington during the Bush and Obama (or “Bobama”) administrations. Henry Paulson, meet Ferdinand Marcos.
Correct Dr. Palmer. GS navigates that nebulous territory of public subsidies and regulations very well. And as I recall, Neel Kashkari, the man who was (is?) in charge of dispersing TARP funds is also a Goldman alum. The US government should send them a bill for $13 billion- but I wouldn’t hold my breath.
Given that former GS employees staff Treasury, I wonder if it’s accurate to say “GS navigates that nebulous territory of public subsidies and regulations…” It might be closer to the truth that GS *designs* this territory. Keep in mind, for example, that when AIG was saved, the #1 beneficiary was its creditor GS. The guy who decided to save it was former GS CEO Hank Paulson. The *only* outside consultant he brought in in making the decision was GS.
“Bobama”…suddenly L. Neil Smith and Rex May’s cartoon version of Obama being called ‘Bobo’ makes more sense.