I swear, they count SO MUCH on people not paying attention. Isn’t there a handful of former Goldman-Sachs executives now holding offices in the present (that guy’s name again) administration?
So the Senate, some 60 seats to the left, is "investigating" whether or not Goldman-Sachs knew they were profiting from the mortgage crisis of… I think it was 2008. The same people who instituted the regulations that led to the crisis, are investigating their buddies who profited from it, and apparently offering them a tax break for some I don’t know other investment somewhere else.
They refer to this kind of collaboration between government and the financial sector as "crony capitalism." Here’s how it seems to work. Government comes up with new regulations that are bound to screw the financial sector. The financial sector complies with the regulations, gets screwed, gets bailed out by the government after the fact, and goes home to their fancy houses.
What they seem to be "investigating" is whether or not Goldman-Sachs misled investors about the value of their mortgage-backed securities, when they knew… let me get this straight… that the people who were supposed to pay the mortgages weren’t going to pay the mortgages, because they weren’t really qualified to get the mortgages in the first place, but the government made the lenders give them the mortgages anyway. The same people who regulated the financial sector into the crisis are investigating whether or not the financial sector knew it was going to be a crisis at the time they were selling the doomed mortgage-backed securities.
It seems like kind of a manufactured fabricated drama, for anyone who’s paying attention now, who didn’t know what was going on then. I scwew you, you scwew the world, the sh*! hits the fan, I hep you, I hire you, and then I investigate you to see if you knew what I did. Don’t bwame me, I’m just a siwwy wabbit.
Seems to me you’d investigate the people who came up with the disastrous regulations in the first place, but then you’d have to investigate… yourSELF. No, that wouldn’t be right. You wanna know what the people who are paying attention think of you?
WE WOULDN’T TRUST YOU TO RUN A LEMONADE STAND. Let alone regulate the health care industry. Blah blah BLAH blah blah blah.