What’s Good for Goldman Sachs
To love Geithner’s plan, you have to embrace his philosophy that what’s good for Wall Street is good for America.
–Margaret Carlson, “Geithner Deals Wall Street a Can’t-Lose Hand“; Bloomberg (3/26/09)
What’s good for the country is good for General Motors, and what’ s good for General Motors is good for the country.
–Charles Wilson, General Motors CEO (1952)
So today’s General Motors is Goldman Sachs?
Unfortunately, the updated equation is wrong on two counts: 1) what’s good for Goldman Sachs seems to be very bad for the rest of the country; and 2) what’s good for the country . . . seems to be irrelevant to Goldman Sachs.