Maggie's Farm

Re Goldman, from Cardinalpark at Tiger:

The one thing I thought the Goldman executives should have remarked, when questioned about their tactical short overlay to reduce their long exposure to the mortgage morket, would have been to add that, had they not gone net short, they very likely would have been in line testifying with Dick Fuld from Lehman Brothers. And I know which questioning, however ignorant, I would prefer to face.

Today, I am a proud Goldman alum.

Is Congress ignorant about how business works, or do they feign ignorance for populist, political purposes; boob bait for the bubbas? Hard to tell. For certain, the WH is ignorant, as Dino reminds us via this reposted IBD chart:

At Politico today: The Wall Street-Washington divide. My gut tells me it's all a big diversion.