Aside from a few ethical lapses, the Goldman Sachs lawyers say the firm is guilty of nothing more than being good at making money. Matt Taibbi’s latest article says there’s much more to it than that, according to the recent bipartisan Senate subcommittee report. If you are new to Taibbi’s writing style, you’ll find it either entertaining or off-putting. The off-put will ask, “How can I take this seriously?” You need to find a way. Taibbi continues to do strong reporting on the financial crisis:
To recap: Goldman, to get $1.2 billion in crap off its books, dumps a huge lot of deadly mortgages on its clients, lies about where that crap came from and claims it believes in the product even as it’s betting $2 billion against it. When its victims try to run out of the burning house, Goldman stands in the doorway, blasts them all with gasoline before they can escape, and then has the balls to send a bill overcharging its victims for the pleasure of getting fried.