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...Read More
Financial Res Ipsa Loquiter – Part 2 [Note: please return to this post after reading Part 1] Even people who agree that holding Wall Street accountable is a laudable goal are likely to raise four objections. The most serious arguments — and the rebuttals — are: One. “No laws were broken.” Specifically, the SEC allowed...Read More
Financial Res Ipsa LoquiterIf the stock market surged 15% in the week since Bernie Madoff finally went to prison, just imagine what it would do once the senior management at companies like AIG, Citigroup, Goldman Sachs, and Fannie Mae are held accountable for their behavior. And why shouldn’t they be? Thanks to the legal principle...Read More
