Today's New York Times includes a short story (prominently featured online at 9 am) trumpeting the "big profit" Goldman Sachs is reporting. The NYT notes that some analysts may see this as a sign of a recovering economy.
But read in the context of Matt Taibbi's recent Rolling Stone expose of the decades of profiteering at Goldman Sachs, in which the company has taken money from all Americans over the course of the last five or six economic crashes, it looks more like GS has just taken us for yet another ride, thanks to its friends throughout the financial industry, government, and "independent" financial regulatory organizations.
(Taibbi is, of course, a Phoenix contributor
as well, so we like him. But even if he weren't, we'd be lauding his excellent digging,
synthesis, and analysis of the means by which the American public - and
our public treasury - have been raided by Goldman and its minions for