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.
3 Responses to “Crony Capitalism….It’s Not Just for Malaysians or Singaporeans!”
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.