11 May 2010

Hypocrites at the Gate

You really should read all of this:

Last week, the Wall Street Journal and Washington Post identified several members of Congress and the Senate who, during the financial crisis, took short positions in the market, betting against the U.S. economy. This behavior is not just hypocritical. It marks yet another breach of the public trust.

In the course of their workday, (elected officials) meet with government officials, captains of industry, and foreign leaders. When these same elected officials phone their Wall Street brokers and take a financial position against the very entity which they are charged with preserving and protecting — the United States — how could it be anything other than a breach of the public trust?

Now why was Sen. Carl Levin so eager to paint Goldman Sachs as a bunch of crooks? To advance the Democrats’ embarrassingly weak and misguided financial reform agenda, naturally.

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