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A Goldman victory would be an affront to the very idea of civilization

April 24th, 2010

Goldman Sachs CEO Lloyds Blanfein with Berkshire Hathaway's Warren Buffett; image courtesy of Fortune Post Cards (CNN / Time Warner)

The Goldman Sachs case is likely to turn into a final referendum on the unsustainable, Ayn-Randian, greed-is-good ethos that has infected America since the 1980s, according to Matt Taibbi. The Rolling Stone writer here suggests that a Goldman Sachs victory in the Abacus 2007-AC1 fraud case…

“would be a rebuke to the whole idea of civilisation –- which, after all, is a collective decision by all of us not to screw each other over even when we can.

“It’s an important moment in the history of modern global capitalism: whether or not to move forward into a world of greed without limits.”

  • Matt Taibbi’s ‘Will Goldman Sachs prove greed is God’, published in the Guardian on April 24th, 2010 is available here
  • To read my take on Taibbi’s ‘The Great American Bubble Machine’, click here

Short URL: http://www.ianfraser.org/?p=1067

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