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by Derek Loosvelt | May 12, 2011


Matt Taibbi is back, and this time his piece is called "The People vs. Goldman Sachs," which builds a case (upon the one recently built by Congress) for why Goldman and its execs should fry for its sins (including its alleged lies about its "big short") that helped cause the great financial crisis of 2008 and 2009.

wizard of ozAlthough, at a glance, I didn't see any vampire squid-like pullquotes from this latest Taibbi article on Lloyd and the boys, this Taibbi-penned description of Goldman might stick for a bit: "The great and powerful Oz of Wall Street."

Which, according to the Rolling Stone journalist as well as to the Michigan Senator Carl Levin (who chaired the Senate Subcommittee on Investigations, which recently released a 650-page report entitled Wall Street and the Financial Crisis: Anatomy of a Financial Collapse), didn't exactly get away with murder but did get away with stealing "more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye."

And so, if what Taibbi writes is true (or even partially true), perhaps it's time the great Oz of the Street reaches into its own bag of tricks and gives itself a heart.

(Rolling Stone: The People vs. Goldman Sachs)

(Related: Carl Levin Wants To Cut Off Lloyd Blankfein's Tentacles, Matt Taibbi Wants to Know Why Dick Fuld And John Mack Aren't Reaching Low For the Dove)


Filed Under: Finance
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