Today's topic at my blog "Resurgence" on BigThink.com:
Smiling All The Way Back To The Bank
When I began listening to the recorded testimony of Wall Street banking executives to Congress Wednesday on C-Span, I started to feel like I was sitting in a circle at an Alcoholics Anonymous meeting, listening to my fellow attendees as they told the rest of us the terrible things they had done to get to the point where they could finally be honest with themselves. After listening a little longer, though, I began to wonder if the bankers really thought anyone was buying what they were selling. Goldman Sachs chairman Lloyd Blankfein basically explained, after his obligatory mea culpa, that there should have been more regulation, and appeared to insinuate that a part of the blame for the financial crisis should be shared by the government agencies charged with making sure companies like his operated inside the regulatory guidelines.
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