Wall Street meets Sesame Street via Goldman Sachs.

Greg Smith is a hero for disclosing “muppet” terms? It’s about time. In the case of GS/AIG, a circle of deceit is well evidenced, and taxpayers got nailed for the scam. William Cohan labels derivatives as “sophisticated” and mentions that those involved “know what they are doing”. This makes him a politician. In his praise of Blankfein’s helmsmanship preceding and during the bailout, He exudes the mentality that challenges journalists to expose truth. Stories like this cost corporate reputations immeasurably. This does not have a positive effect on the perception (and essentially the reality) of the market’s non- recognition of ethics in the pursuit of lasting meaningful growth with minimal casualty. He is mistaken to believe that this issue will be forgotten. Many more applaud Mr. Greg Scott than deride his action.”

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