Matt Taibbi at Rolling Stone thinks so, saying Goldman helped create then profit from all the great bubbles.
But Daniel Indiviglio at The Atlantic says otherwise. Goldman is a major player, but hardly the only one. But he then goes on to basically excuse them, because, y’know, they’re smarter than everyone else and also because regulation would destroy capitalism. Can’t have that happening.
Well, maybe capitalism needs a bit of destroying. Because right now, it’s clearly just serving a tiny few to the detriment of everyone else.
From the comments at The Atlantic.
Don’t let these minor quibbles obscure the main point: Washington policy is set by Wall Street people (largely Goldman) for the benefit of Wall Street (including Goldman).
The bailouts and stimulus are generational theft on an unprecedented scale, selling our children into debt to enrich today’s bankers.
Goldman is hardly the only evildoer here.