Thursday, October 15, 2009

Sacking Goldman

If you had told me a couple of months ago that Dylan Ratigan would wind up being the voice of both sanity and smart populist outrage in the midst of this worsening financial crisis, I'd have laughed out loud. But damn if he hasn't become just that lately.

From the Huffington Post:

"Allowing these outdated banks to take control of our government and change the rules so they are protected from the natural competition and reward systems that have created so many innovations in our country, you not only steal from the citizens on behalf of the least worthy but you also doom them by trapping the capital that would have been used to generate new innovation and, most tangibly in our current situation, jobs.

We don't want a government commandeered by those in our banking system who have failed and been passed over by technological advancements, innovation and flat out smarts.

The government's job is to restore the rules of investment, not indulge those who want to unfairly sustain their wealth and power at our nation's expense."

For the record, this little call to arms comes just as Goldman Sachs posts $3.1 billion in third-quarter profits on the backs of U.S. taxpayers and is setting aside a total of $5.3 billion for employee bonuses.

The Huffington Post: Turn Goldman Anger Into Government Action/10.14.09


Anonymous said...

Wow, I didn't expect that either. Maybe he left CNBC because he was tired of working with the crazy people.

Here's one my favorite CNBC douche bags Larry Kudlow talking with Bruce Bartlett about his support of Keynesian economics. Notice how he attacks Bartlett by calling him by equating his policy positions European. They've become pretty slimy over there.

Stephen said...

Dylan was a big loss for CNBC. This excerpt is just a sample of the kind of thing he would get raging mad about on air during Closing Bell at 3pm. He would beat the guests over the head with it at times, but his points were always well taken.
The funniest was watching he and Maria argue about things like this.