2009-07-19 Too Big To Think About

2009-07-19 digby Hullabaloo \economic disparity\Goldman Sachs\2008 financial meltdown\2008 Wall Street bailout\national obliviousness http://digbysblog.blogspot.com/2009/07/too-big-to-think-about-by-digby-i-dont.html Too Big To Think About Too Big To Think About  I don't think I was alone in finding it shockingly arrogant for Goldman Sachs to announce their insane bonuses last week. Trumpeting such a thing in the midst of this horrific economy is beyond poor taste.

There was a point not all that long ago in which I thought Goldman doing this would bring about such disapprobation in the public and among lawmakers that they wouldn't even try it. It seemed so stupidly provocative to demonstrate such outsized, piggish greed before the dust even settled, that it seemed impossible they would try. But I was the one who was stupid. They can strut around giving the whole country the finger and daring somebody to do anything about it and nobody cares.

And it's actually more reprehensible than I thought. The venerable Barrons mildly suggests that Goldman is cheating its shareholders, thus leaving themselves undercapitalized. Again. But why would they concern themselves with such a thing? They are too big to fail.

But it's actually worse than that.

&ldquo;I don't think I was alone in finding it shockingly arrogant for Goldman Sachs to announce their insane bonuses last week. Trumpeting such a thing in the midst of this horrific economy is beyond poor taste.&rdquo;   