Tuesday, April 27, 2010

NBC Nightly News has fun with Senate hearings in Goldman Sachs

NBC Nightly News played the sadism game itself tonight with Brian Williams, showing many clips from the Senate hearings about Goldman Sachs, with chairman Lloyd Blankfein taking the biggest heat. Senator Carl Levin (D-MI) repeatedly interrupted him with questions laced with expletives. Reuters has a story on MSNBC by Steve Eder and Dan Margolies here.  The session went on for 10-/12 hours and sounded like "Fun with Dick and Jane", R-rated style.

Blankfein characterized himself as a “market maker” and it was not up to him to tell investors what to do. I don’t know what he thinks of financial planners.  He tended to evade questions that the company bet against its clients and indicated that it was good for its clients.   Another executive "regretted" the emails, on how to sell "junk" that he sent.

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