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I am shocked... SHOCKED!

From John Michael Greer's latest blog post:

It’s a fascinating turn of events, not least because Goldman Sachs has been remarkably cozy with the last two presidential administrations here in the US. Still, that didn’t keep the SEC from filing fraud charges against the firm, and it didn’t prevent the publication of a flurry of highly damaging emails in which Goldman Sachs executives boasted about selling made-to-fail securities to widows and orphans – yes, that last phrase actually got used – and then taking out short contracts on those same securities, so that Goldman Sachs profited when the securities did what they were designed to do, and lost money. For all the world like Casablanca’s Captain Renault, Congress is shocked, shocked to find that Goldman Sachs is making money at its customers’ expense; the interesting question is whether this fine imitation of outrage is simply the sort of ritual theater governments use so often these days as a substitute for constructive action, or whether serious power shifts are under way.

My guess, for what it’s worth, is the latter.


http://thearchdruidreport.blogspot.com/2010/04/costs-of-complexity.html

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