Here's the quote:
Wall Street is in effect selling cars with faulty brakes, and then taking out insurance on the buyers.The statement was directed at Lloyd Blankfein, chairman of the board and chief executive officer of Goldman Sachs (and budding Bond Villian). Remember, this is the same Goldman Sachs that was making $100 million a day just a few months after taking a $20 billion bailout payment from you and me.
Just to make sure that sinks in, they were bringing in 100,000,000 dollars A DAY.
The temerity of these bank executives during the hearings would be comical if it weren't so enraging. C-Span has video of the hearing on their website. If you feel the need for a quick hit of Hulk rage, I highly suggest you watch. Skip through the first 40 minutes or so since that's just the bankers reading their prepared PR statements.
In the meantime, here's an example of why The Onion is the smartest news source. EVAR. Jon Stewart is getting his ass kicked by these guys.
In The Know: Are Politicians Failing Our Lobbyists?
tagged: politics, economy, bailouts, The Onion, Doomsday Cycle, Goldman Sachs, Lloyd Blankfein, Phil Angelides, humor, satire