Salmon on Taibbi's Goldman Sachs piece: Other than that, Mrs. Lincoln, how was the play?
Taibbi’s article is a compilation of just about every conspiracy theory ever dreamed up about Goldman Sachs, but what real substance is there to support the theories?
We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance of being a force for good.
Salmon's bottom line:
[A]though there’s a strong case to be made that Goldman has failed to capture the legislative branch (see for instance Chris Dodd jumping on the Ben Stein bandwagon), I think there’s a pretty compelling case that both the executive branch (home to countless Goldman alumni) and the regulators, like the CFTC, have a pretty strong track record of doing whatever was in the best interests of Goldman Sachs.
Damn. That's some CT. Other than that, Mrs. Lincoln, how was the play?