So. Is Wall Street populated by incompetents who missed the $8 trillion housing bubble, or by crooks who knew full well what was going on and fueled the bubble deliberately?

I suspect the answer is yes.

If Fox went after Goldman with the same sort of intensity that it went after ACORN, it wouldn't have the ability to blanket the airwaves with trumped up charges that make Republicans feel better about getting their asses handed to them by a black guy whose middle name is Hussein.

It's worse than that Aatos. From one of the stories above:

WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.

http://market-ticker.denninger.net/archives/P2.html

Obama's deep involvement with G-S makes our political situation seem utterly hopeless.

I find this issue to hard to talk to democrats about. They line up all of the issues in a row, in equal status, and say "Obama's good on 9 of these, and only bad on 3 of them".

Then you say that one of them is more important than all of the others put together, and they just laugh. To a lot of liberals "issues" are "things that someone feels strongly about". I happen to feel strongly about financial collapse and trillion dollar corruption, but others feel strongly about different things.

John, I think a lot of people's defensiveness is borne of hopelessness. Obama was supposed to offer some sort of remedy to government by, of and for Wall Street; he hasn't, and he may be making the situation worse.

If Fox News conservatives could ever marry a legitimate economic populism to their cultural populism they'd be a force to be reckoned with. But Fox News conservatism has an ideological commitment to free markets - and the idea that the likes of Goldman Sachs should be permitted to do whatever it wants.

Wrong. Fox does NOT have an ideological commitment to free markets. If we had free markets, how could we possibly be paying double for worse medical care than the Europeans get? Why is our cable and internet and cell service so much more expensive and lousy than theirs? Why are the credit card companies and banks allowed to rip us off at every turn? And on and on. It's a monopolists dream over here in the U.S., with bought and paid for elected officials having to do monopoly or near-monopoly bidding or else a tidal wave of election cash will be handed to a challenger. You want a Republican committed to free markets? Try Teddy Roosevelt. He broke up the huge monopolies and oligopolies which had our grandparents and great grandparents under foot. Rupert Murdoch's crew does the opposite. They protect the the entrenched combines.

If Fox News covered GS they way they "covered" ACORN, we'd all be watching TV 23 hours a day.

Enough with the GS conspiracy theory nonsense. They are an investment bank in the business of buying and selling risk. They bought billions in loans the same time they were selling them. Stop embarrassing yourselves.

If Fox news covered GS the same way they covered ACORN, they would be covering two ridiculous non-stories instead of one.

Wallster, might you give some arguments for your claim, and respond to what Baker and McClatchie have written? Or are you just in your shit-flinging mode?

Wallster "forgets" that GS colluded with the rating agencies to hype the garbage they sold, and they encouraged mortgage brokers to "send more garbage."

I don't want to absolve Goldman for what it did especially if it broke securities laws. But I don't think that is a good enough excuse for the money managers who bought the crap from Goldman. We should not forget Goldman does not deal with mom and pop, they were dealing with financial professionals who themselves were probably getting paid 7 figure salaries.
Goldman needs to be investigated but these money managers who got screwed need to to be fired by their investors.

sesli sohbet sesli chat Thnx...

Amusingly, the people who told everyone that Iraq had WMDs are.electronic cigarette

I apologize for jumping onto this climate change discussion bandwagon.weight loss tips

Your article is write very well, I like it very much ~
I wish you have a wonderful day!Thank you.
classic ugg boots

If Fox news covered GS the same way they covered ACORN, they would be covering two ridiculous non-stories instead of one.

The hot-sale Ugg Boots are coming now.We offer wide range of colors and styles Ugg Boots UK and Ugg Boots Sale for you.Shopping now for your favorite!