Tuesday, April 20, 2010

Wall Street's Moral Twilight on Display at Goldman Sachs

This morning Goldman Sachs reported record earnings, in the latest example of how unmitigated gall has become the defining credo of Wall Street.

As William D. Cohan points out in the New York Times today, it’s hard not to see something obscene in how Wall Street reaped massive profits and bonuses in 2009, while ordinary people are struggling.

My Portfolio.com column today takes a look at Goldman's defense as exemplifying the moral twilight in which Wall Street resides. There's been a lot coming out today on how Goldman may actually win the case. That's possible, but it doesn't detract from the sheer sliminess of what Goldman did.

© 2010 Gary Weiss. All rights reserved.

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