Wall Street titan should explain what he does for a living
By Daniel at 25 October, 2009, 10:30 pm
(excerpted)
The national rage directed at Wall Street seems to be intensifying.
Many Americans struggle in vain to find work. Those fortunate enough to have jobs worry that their pay will be cut. The mortgage meltdown has cost families across the country their homes. No matter what financial experts may say about the recession coming to an end, too many people still feel like they’re at the bottom of a deep well.
Goldman, and the other Wall Street giants, don’t manufacture anything, other than those profits. What they do is, by definition, immensely lucrative. But for individual Americans who used to produce automobiles for a living, and no longer can; who want to build furniture for a living, but are no longer able to find an employer; who spend day after day, week after week, looking for a way to support their families. …
He should be the person to speak not because he and Goldman are the only ones on Wall Street living the good life, but because they represent the apex. With their top-of-the-heap success comes a significant amount of criticism; Paul Krugman, winner of the Nobel Prize in economics, wrote earlier this year:
“Goldman is very good at what it does. Unfortunately, what it does is bad for America.”
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