Glen Beck and me... speaking the same language?

Full confession: I'm not a Fox News fan. When I watch the channel, I end up like Krugman's proverbial boiled frog. I watch and watch, then find myself boiling over in rage, hurling curses at the screen, particularly when Hannity is running at the mouth. Since becoming a mother, I've tried to limit the "swears" (as my son calls them) and thus limit my time with Fox News.

But I saw this clip and realized that Glen Beck and I are kindred spirits, at least when it comes to our thoughts on Goldman Sachs.

Beck uses a low-tech blackboard and some signs to show the flow of money from the feds to the now profitable Goldman.

Quite an interesting analysis! Check it out...

This is actually one time I want the Fox News guys agitating the masses over an issue. Keep it up, Glen...


Taunter said…
The real issue is not the particular details of who worked where and for whom. There are plenty of ex-Goldman people who work for other firms and have no trouble coming to the office and competing with Goldman.

The problem is that people confuse the economic interest of a private company with the interest of the country as a whole. I don't think Paulson thought he was stealing from the country to give to Goldman; I think it genuinely never occurred to him to use their "misfortune" against them, any more than the Department of Transportation would use an earthquake to condemn land cheaply for a freeway. Simply not sporting.

Government officials also have a difficult time separating the health of the economy from the S&P. An investor SHOULD want high corporate earnings and LOW p/e...but try explaining this to American public. So anything that gooses the market is good, and one way you accomplish this is blocking the financial sector from cascading bankruptcies.

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